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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: pennywise who started this subject2/11/2001 5:33:54 PM
From: ms.smartest.person  Read Replies (1) of 2248
 
NOW cuts more staff, this time in SAR

JOSEPH LO

Pacific Century CyberWorks' multimedia and television flagship Network of the World (NOW) has laid off at least five staff in Hong Kong, less than a week after it said some staff in its London headquarters were to go.

But sources said they did not expect any more staff cuts in Hong Kong.

A spokesman for CyberWorks confirmed the lay-offs.

"Last week we announced a consolidation and integration of the NOW project in London . . . the Hong Kong staff cuts are part of the same package of consolidation we announced then," the spokesman said.

However, she declined to put a number on the staff being retrenched in Hong Kong, nor would she give a number for NOW's pre-consolidation staffing levels in Hong Kong.

"Even in London we are not exactly sure about the number of staff affected," she said.

A report in the London-based Financial Times last week said 20 of NOW's 30 London staff were to go.

However NOW also had about 400 staff in London on a contract basis through partner Transworld International (TWI).

The Hong Kong staff laid off are believed to be support staff of the English-language multimedia content production outfit, including public relations and marketing specialists.

CyberWorks has been scaling back investment in NOW since last autumn after the multimedia channel met with a chilly response following its launch.

The channel was carried for a short time last summer as a test in Hong Kong on the i-Cable system. However, it was dropped after the expiration of the test agreement.

biz.scmp.com
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