Lycos Europe sheds 200 jobs
Lycos Europe is to axe a further 200 jobs from its operation as it continues to battle against a weak advertising market.
Execs at the portal claim the cull will help Lycos Europe break even by the end of the year.
Today's job losses are on top of the 300 announced in September when Lycos Europe began its restructuring programme.
Now, though, it claims this process is being accelerated. When the cuts are made Lycos Europe will employ 900 people.
The company also intends to reduce spending on marketing and introduce savings on its network in a bid to improve its financial footing.
No one from Lycos Europe was available for comment at the time of writing.
Earlier this week Lycos Europe reported that total revenues for the six months to December 31 increased 21 per cent to E68.8 million - up from E57.1 million during the same period the year before.
Net losses for H2 2001 fell by more than half to E67.5 million. ®