Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: jlib who wrote (61167)	10/23/2000 10:38:41 AM
From: StockDung	Respond to of 122087

Stampscom Cuts About 240 Jobs, or 40 Percent of Workforce Santa Monica, California, Oct. 23 (Bloomberg) -- Stamps.com Inc., whose shares have fallen 93 percent this year, said it cut about 240 jobs, or 40 percent of its workforce, as the largest Internet provider of mailing and shipping services moves to reduce costs. The cuts were made at all locations, including its Santa Monica, California, headquarters, and involve full-time, part-time and contract employees, the company said in a press release distributed by PR Newswire. The company wasn't immediately available for comment. Two weeks ago, both Chief Executive John Payne and Chief Operating Officer Loren Smith resigned as the company said it was exploring alternatives. The company also said Chief Financial Officer John LaValle and Comptroller Candelario Andalon were leaving. Stamps.com, which first sold shares to the public at $11 each in June 1999, rose 9 cents to $2.81 in early trading. Oct/23/2000 9:34 ET For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.