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Article: TERRA LYCOS TO LAY OFF 99 MASS. WORKERS BLAMES SOFT ONLINE ADS, REPORTS LOSS
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- May 9, 2001
- Author:
CopyrightCopyright 2001 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Internet portal Terra Lycos yesterday said it will fire 99 workers
in Massachusetts as part of a round of cost cutting by its Spanish
parent.
Terra Lycos cited a soft market for online advertising, a trend
that has also plagued other Internet service providers that have
announced job cuts lately.
Executives said the local job cuts, mostly from the company's US
headquarters in Waltham, will eliminate overlapping functions
following last year's purchase of Lycos Inc. by a unit of the Spanish
phone giant Telefonica SA. Worldwide, Barcelona-based Terra Lycos
said it will eliminate about 480 jobs, or 15 percent of its work
force. Before the layoffs, the Waltham office had about 650
employees.
The ...