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NBCi to cut 170 employees

Published on .

San Francisco--NBC Internet Inc., the Web unit of the NBC Television Network, plans to fire about 170 of its employees, or 20% of its work force, in an effort to cut costs. The move comes as NBCi's stock continues to hover in the low double digits, off a 52-week high of 106 1/8. In recent months, NBCi has scrambled to build its b-to-b business. It has hired Alan Braverman, formerly an Internet analyst with Bank of America Securities L.L.C., as president of b-to-b and also snapped up AllBusiness.com for $225 million.
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