24/7 SLASHES JOBS, CLOSES OFFICES

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(April 13, 2001) -- Online advertising solutions company 24/7 Media, which has been struggling to raise cash amid the online advertising downturn, said Thursday it was eliminating 100 jobs and closing a number of offices, although it did not say which offices would be shut.

Company officials could not be reached for further details.

The company said that it expected annual cost savings of $10 million through the layoffs and other cost-cutting measures. The company also restructured some management, including appointing a former senior vice president of strategic planning, Tony Plesner, to COO. -- Catharine P. Taylor

Copyright April 2001, Crain Communications Inc.

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