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24/7 Media CFO resigns; 100 jobs to be cut

Published on .

New York--24/7 Media Inc. CFO Andy Johns has quit. His resignation comes as the online ad network and direct marketer indicated that its fourth-quarter revenue would be less than forecast, and that it would cut 100 additional jobs. The company announced in third quarter 2000 that it was cutting 200 jobs. 24/7's ongoing woes reflect an industrywide slowdown in online advertising. The company's stock is now trading at less than $1 a share. Its 2000 high was $65.
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