THE STREET.COM TO CUT ANOTHER 20% OF STAFF

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(April 4, 2001) -- The latest in a series of industry cuts, TheStreet.com announced today measures to reduce operating expenses in the increasingly unstable market environment. The company will lay off 20% of its workers, sublease a portion of its principal office space and reduce spending in contract services, marketing and travel. TheStreet.com expects to save over $15 million annually as a result of these measures. This is the second round of layoffs at the financial news site. -- Bonnie Tsui

Copyright April 2001, Crain Communications Inc.

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