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"The realities of the market, the changes in our business model and the need to minimize the time it takes to reach profitability all factored into this decision. But this doesn't change the fact that this is a very difficult step to take."
—Listen.com CEO Rob Reid
LISTEN LAYS OFF 42
Netco Says It Will Be Profitable In '02, Is Startled In Bedchamber By Ghost Of Dot-Coms Past
The dot-com bloodletting continues. So don't be surprised if your mom forwards this story to you with a note urging you to get back into something stable, like dry goods.

San Francisco-based online music destination Listen.com let 42 employees go today, according to an official release. The number represents some 25% of the company's staff.

Despite the layoffs, the ambitious netco—which recently lost the bidding for multimedia file-swappery Scour's assets to Oregon upstart CenterSpan—insists it has plenty of cash left and that it will reach profitability next year.

"The employees leaving Listen.com all made tremendous contributions to our growth and success," reads a statement from CEO Rob Reid. "The realities of the market, the changes in our business model and the need to minimize the time it takes to reach profitability all factored into this decision. But this doesn't change the fact that this is a very difficult step to take."

Listen also announced that the departing employees would receive severance packages.


REVENUE CHART:
DOUBLE DIVAS
The song we needed (6/4a)
IMPACTING NOW: THE PROMOTION COALITION
The buddy system in action (6/4a)
IN “BLACK LIKE ME,”
MICKEY GUYTON
NUDGES AMERICA’S CONSCIENCE
Making it real in Music City (6/4a)
A CHROMATIC TOP 20
Bringing joy to a world that desperately needs it (6/4a)
BROWN PUSHES FOR A "BEAUTIFUL" WORLD
Kane is able. (6/4a)
TUESDAY
THE SHOW MUST BE PAUSED
TIME TO REFLECT
TIME TO ACT
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