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(April 26, 2001) -- Jupiter Media Metrix preceded a post-market close conference call with analysts today with an e-mail missive to its U.S. staffers that began, "We are writing to share some difficult news about changes at Jupiter Media Metrix." Read the e-mail in its entirety.

Specifically, the memo went on to say the Internet research company would be laying off about 18% of its U.S. staff "over the coming weeks."

An employee conference call is scheduled for May 1, during which time the company said it would "discuss our plans for the future," although the wording of the e-mail strongly suggested that layoffs will occur in advance of that call.

Separately, the company said that its first-quarter net loss widened in 2001 to $10.8 million, compared to a pro forma net loss of $1.7 million last year. On a pro forma basis, revenues rose 8% to $27.4 million.

Shares closed at $2 today, down from a 52-week high of $37.12. -- Jon Fine

Copyright April 2001, Crain Communications Inc.

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