TheStreet.com sets layoffs, closes U.K. office

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Online financial information company TheStreet.com announced Nov. 16 it is planning to cut its work force by 20% and close down its operations in the U.K. The job cuts will affect about 40 full-time employees in the U.S. TheStreet.com said its British operations, TheStreet.co.uk, accounted for about $9 million of TheStreet.com's consolidated new losses for the nine months ended Sept. 30. It said the British company was going to run out of the money by the end of this year. TheStreet.com also said it plans to "wind down" its joint-venture newsroom with The New York Times by the end of this month.

Copyright November 2000, Crain Communications Inc.

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