PHASE2MEDIA PLANS TO CUT STAFF

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(July 2, 2001) -- Phase2Media is dramatically scaling back its organization in an effort to find future options for its business. The number of cuts wasn't known at press time, but the company said late Friday it would only maintain "a core team of finance, advertising operations and affiliate operations."

The New York-based online media shop, which has sold inventory for approximately 60 brands, had laid off 40 people, amounting to 30% of its staff, in April. -- Catharine P. Taylor

Copyright July 2001, Crain Communications Inc.

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