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Engage lays off 175, shutters business unit

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Andover, Mass.--Engage Inc., in the midst of an aggressive b-to-b advertising push, said it will lay off about 13% of its work force--175 employees--and consolidate its operations. The move means Engage's fledgling Business Media unit, which specialized in selling advertising space on highly targeted business Web sites and e-mail newsletters, will be sold alongside its consumer offerings. Engage said it was taking action to make profits more quickly, as financial markets continue to punish money-losing Internet advertising businesses. Joanne Currie, general manager of Engage Business Media, has already left the company, Engage confirmed.
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