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To: Zoltan! who wrote (1813)	2/6/2001 3:33:52 PM
From: CatLady	Respond to of 4890

InfoSpace To Cut 250 Jobs SEATTLE, Feb 05, 2001 (AP Online via COMTEX) -- InfoSpace Inc., a maker of software for Internet commerce, is cutting 250 jobs, or roughly 20 percent of its work force, to reduce overlap caused by its recent merger with Go2Net and is eliminating certain units altogether. The Bellevue, Wash.-based company, which is reducing its staff to 950 from about 1,200, also said it will revise its financial outlook for 2001 and 2002 in the next few weeks. Jodi Hanson, senior vice president of investor relations, said the company is not expecting to do any worse than previously anticipated, but she would not give any more details. On Jan. 29, InfoSpace released financial data showing a loss of $46.2 million, or 15 cents a share, for all of 2000, and projected a loss of 14 cents a share for 2001. In trading Monday, InfoSpace shares fell 14 percent, or 69 cents, to $4.12. InfoSpace, which provides software for e-commerce and other Internet services, acquired rival service provider Go2Net on Oct. 12 in a deal worth about $1.5 billion. Go2Net is best known for a multiplayer gaming platform, search engine and other Internet software used by consumers. "In the past few years we've done 20 acquisitions between the two companies," said Hanson, "and with all those companies together it makes sense (to make some cuts)." The job cuts will cut across all divisions, affecting salaried and hourly employees, Hanson said. News of the layoffs comes a few weeks after three top InfoSpace executives surprised analysts by leaving the company. InfoSpace's stock has continued to fall since that announcement sent it plunging more than 20 percent. Hanson said she does not believe changes at the company's top level will affect the company "because the people who are in executive positions now have been there - I want to say 'forever' in our history. Most people have been there at least two years."