Excite@Home Corp. said it has trimmed roughly 8 percent of its work force due
to a sluggish online-advertising sector that has affected both narrowband and
broadband content markets.
The cuts, which will affect about 250 employees, will come from Excite@Home's
content-related areas, with 'minor reductions' of corporate staff and other
operations, the company said.
Excite@Home added that its broadband-access business and the staff supporting
broadband-network operations are not affected.
'While content services remain a compelling element of our opportunity, it is
critical that the cost structure of our media business correlate with the
changing online-media world,' company chairman and CEO George Bell said in a
press release. 'As we mature as a business and drive toward profitability, we
continue to refine our core business.'
Officials were not immediately available for further comment.
Excite@Home's already sagging stock price took another hit Tuesday, closing
down almost 3 percent at $8.31 apiece. The company is expected to release
fourth-quarter financial results at the end of regular trading