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INKTOMI LAYS OFF 25% OF WORKFORCE

Published on .

(April 3, 2001) -- Search engine specialist Inktomi Corp. announced today it laid off 250 workers today, or 25% of its staff. Because of a dramatic drop in demand, Inktomi said it will further trim its employee payroll through layoffs and attrition in the next 90 days. The company will also cut its marketing budget. "This is the most severe quarter in the technology industry that I have ever experienced," said Inktomi CEO David Peterschmidt. Inktomi will release its quarterly results April 19. -- Bonnie Tsui

Copyright April 2001, Crain Communications Inc.

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