HEY ELLIOTT, YOU'VE SHRUNK THE COMPANY:
HEADLINE: Thynx announces reduction in staff
DATELINE: PRINCETON, N.J.
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October 11, 1996--Bureau of Electronic Publishing Inc. (NASDAQ:BEPI) d/b/a Thynx, announced today the layoff of 16 of its 28 employees. Elliott Eisenberg, Chief Operating Officer, said the reduction was due to disappointing sales results and a decision was made to redirect the Company's efforts. "We intend to enhance shareholder value by focusing our efforts upon the building of profitable lines of business via internal development and acquisition," said Eisenberg.
CONTACT: Elliott Eisenberg, 609/514-1600
HEADLINE: A HEADACHE FOR THYNX
THIS IS THE FULL TEXT
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The Bureau of Electronic Publishing, which is doing business as Thynx, is the latest casualty in the incredible shrinking multimedia market. The Princeton, N.J.-based multimedia developer announced Friday the layoff of 16 of its 28 employees. All of those staffers had been working on consumer titles, a market that the company intends to exit completely.
"While we still have some titles selling in the educationmarket, we are no longer concentrating on consumers," Thynx COO Elliott Eisenberg told Multimedia Daily. "We are looking at high-tech acquisitions, and we still have our service business that includes an MPEG and coding facility." Thynx also is creating demonstrations of other companies' products as a source of revenue.
Third quarter results are due out Nov. 15, although they "won't be up to snuff," said Eisenberg. The company closed unchanged at $ 1. ( Thynx 609-514-1600) |
