Lycos said over time it will phase out its generic media portal business and focus instead on subscription offerings such as online dating services and Web site publishing.
Spanish-American online media firm Terra Lycos said on Wednesday its Lycos Web portal business will shift to a subscription-based service from a generalist online outlet in order to boost revenues.
The restructuring is expected to result in job cuts of up to 20 percent, the company said. Lycos said it has a staff of 418 in the United States, where the cuts and restructuring will take place.
The money-losing Terra Lycos has been hit particularly hard by the downturn in the online advertising market that followed the 2000 implosion of the dot-com bubble.
The company's strategy to convert visitors to its site into paying customers has begun to pay off for a variety of Internet firms who once relied entirely on advertising.
Terra Lycos is 72 percent-owned by Spanish telecoms giant Telefonica.
Source: Yahoo News
© 2005 - All rights reserved worldwide. Call Now 1-877-822-0875
|(We are Square Trade Verified)||(We Accept Payments via Paypal) - Partners for Search Engine Optimisation and SEO||(Member of International Internet Marketing Association)|
Warning: require() [function.require]: URL file-access is disabled in the server configuration in /home/submit/public_html/templates/CleanBlue/template.php on line 1
Warning: require(http://www.submitplanet.com/tla.php) [function.require]: failed to open stream: no suitable wrapper could be found in /home/submit/public_html/templates/CleanBlue/template.php on line 1
Fatal error: require() [function.require]: Failed opening required 'http://www.submitplanet.com/tla.php' (include_path='.:/usr/lib/php:/usr/local/lib/php') in /home/submit/public_html/templates/CleanBlue/template.php on line 1