INTERNET.COM ANNOUNCES WORKFORCE AND EXPENSE REDUCTION INITIATIVES(New York, NY - April 2, 2001) - internet.com Corporation (Nasdaq: INTM), the Internet & IT Network, announced today that it is eliminating approximately 15% of its total workforce. These staff reductions are part of an ongoing effort to increase the efficiency and effectiveness of its media operations.
internet.com stated that these reductions will help extend its fundamental competitive advantage of being an online trade media company by being able to quickly adapt to changing market conditions. The majority of the reductions involve positions made redundant by recent acquisitions of a number of Web sites and Internet media properties, both domestically and internationally. Other reductions are the result of the softening advertising market that has negatively impacted both traditional media print publications and trade shows, as well as new media properties.
Interested advertisers should contact the Ad Sales department at [email protected] or (203) 662-2962. For e-commerce and licensing opportunities, contact David Arganbright, Vice President, Commerce and Licensing, at [email protected] or (203) 662-2858. For more information on conferences and seminars, contact Frank Fazio, Jr. at [email protected] or (203) 662-2976.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding internet.com Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Prospectus dated June 25, 1999, Annual Report or Form 10-K for the most recently ended fiscal year, when available.
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