DoubleClick lays off 150 employees

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DoubleClick is laying off 150 staffers or about 8 percent of its employees. The leading online ad network and ad-management company employs about 2,000 people. In a statement, it attributed the layoffs as being in line with a recent reorganization and said the cuts were made across the company in all divisions.

"We have always carefully managed headcount to assure our productivity outpaces our competitors," it said. "The steps we have taken were not dramatic relative to the scale of DoubleClick. The changes made today leave our employee base virtually flat over the course of the second half of the year. This makes us well positioned for 2001."

At the end of October, DoubleClick laid off up to 50 people in its Abacus data division as it merged the newly acquired unit into DoubleClick. Doubleclick's stock closed at $12, down $1.06, or 8.13 percent.

All ad networks are feeling the pain of the dot-com downturn. Just recently 24/7 announced it would be cutting 200 positions in a cost-cutting move.

Copyright December 2000, Crain Communications Inc.

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