"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.


HITS LIST BLASTS OFF
Space is the place for Tay. (4/26a)
SONG STREAMS: SWIFT SETS STREAMING RECORD
What did you expect? (4/26a)
SPRING BREAKOUTS: THESE HEATERS ARE STILL HOT
Who's Boomin who. (4/26a)
SONG REVENUE: “SWEET” SMELLS OF SUCCESS
Life after "Church" (4/26a)
STAGECOACH: SETS TO SEE AND PLACES TO BE
Saddle up, cowboys and cowgirls. (4/26a)
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)