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Technology Stocks : idealab! -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (14)	1/12/2001 3:29:38 PM
From: Brasco One	Read Replies (1) \| Respond to of 16

High-Tech Incubator Idealab Cuts Staff PALO ALTO, Calif. (Reuters) - Idealab, which develops and incubates high-tech firms, Friday said it had cut about 10 percent of its staff in response to market conditions, but hoped to be able to place some of the affected employees at its affiliated companies. ``Our focus on creating and building companies remains the same but we are adapting to current market conditions,'' Pasadena, Calif.-based Idealab said in a statement. The cuts were made from a staff of 170, in five different offices. Idealab has fostered several Internet companies including many such as the e-tailer eToys Inc (NasdaqNM:ETYS - news) and the Internet service provider NetZero (NasdaqNM:NZRO - news) that have struggled to stay in business, or fallen out of favor with investors. The company says it is now focusing on building companies in a range of high-tech areas including Internet infrastructure.