"The rapidly softening economy directly impacted our revenues, and left us with expenses that were based on previously planned, higher growth rates," said Tod Johnson, Jupiter Media Metrix CEO. "Moreover, unanticipated costs in our international expansion initiatives, and several one-time costs related to our recent merger, resulted in higher overall costs." The company, which includes Jupiter Research and Media Metrix, said it will lay off eight percent, or 80 employees, to lower operating costs in line with current market conditions. Mr. Johnson said Jupiter will continue to focus on reaching profitability in 2001 by pursuing revenue growth opportunities while effectively managing expenses.
Copyright January 2001, Crain Communications Inc.