COOLSAVINGS.COM LAYS OFF 26% OF STAFF

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(Aug. 1, 2001) -- Coolsavings.com, Chicago, has laid off 26% of its employees and received a capital infusion of approximately $15 million. The company cut 47 people to help reduce costs and has received the first $5 million of secured debt from Landmark Communications. It hopes to break even by the end of 2001. -- Adrienne Mand

Copyright August 2001, Crain Communications Inc.

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