lays off 50% of work force

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Internet postage provider said it would slash 150 jobs, or 50% of its work force, in an effort to streamline operations and achieve profitability. The job cuts will take place across all of its locations, including Bellevue, Wash., and its Santa Monica, Calif., headquarters, the company said Feb. 7. The cutbacks reflect's renewed focus on its core Internet postage business as well as its strategy of making the company profitable. Last October, laid off 240 employees or 40% of its work force.

Copyright February 2001, Crain Communications Inc.

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