THE STREET.COM TO CUT ANOTHER 20% OF STAFF
(April 4, 2001) -- The latest in a series of industry cuts, TheStreet.com announced today measures to reduce operating expenses in the increasingly unstable market environment. The company will lay off 20% of its workers, sublease a portion of its principal office space and reduce spending in contract services, marketing and travel. TheStreet.com expects to save over $15 million annually as a result of these measures. This is the second round of layoffs at the financial news site. -- Bonnie Tsui
(April 4, 2001) -- Mondo Media, known for its syndicated flash animation programs, announced today the introduction of Mondo Side Show, a new online advertising vehicle that enables self-contained multilevel ad "campaigns" on the Web. ... Global Network Inc. and the Newspaper National Network announced today an agreement to create a unified online and offline newspaper advertising network. The venture will service national advertisers and ad agencies. NNN will sell online newspaper advertising through Global Network, who will then place the media buy and track real-time results for the campaign. ... Kmart's campaign for its relaunched Blue Light Special (AdAge.com, April 3) has a Web component using the rich media ad form Superstitial from New York-based Unicast. The campaign was created by TBWA/.8 Chiat Day, New York.
Copyright April 2001, Crain Communications Inc.