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"They are intent upon survival, and eventually to thrive again, and I believe they will do what is necessary to achieve that goal."
—--A former Launch employee
LAUNCH JETTISONS
EMPLOYEE CAPSULE
26% Of Staff Let Go, Expansion Curtailed, But Online Company Gets More Cash
Remember when everybody you knew was getting a job at a dot-com? What a time it was: the President was able to form coherent sentences but couldn’t keep his fly zipped, Arnold was still attached to the "Planet of the Apes" remake and the economy was hotter than a promo guy humping a leg in wool slacks.

Launch Media was at the top of the new-media heap then, and while the new-media company remains a leader in the space, it let go 60 staffers (26% of its workforce) today and scuttled plans for expansion into Europe and Asia.

Even so, the company reportedly secured $5 million in financing, despite reduced revenues and profit projections, bleak market conditions and the increasingly painful reality that the public is currently no more interested in online entertainment than a promo guy is in taking a polygraph test. Well done, Launch Media!

Indeed, Launch’s fusion of online and offline interests—the latter include the WARPED Tour and a CD-ROM magazine—have been vital to its survival and its relatively strong prospects, insiders say.

The netco’s rep remains untarnished even among the recently downsized. "Launch was very brave in placing itself close to the center of the vortex of online music developments, and was even more bravely trying to walk the tightrope of the win/win solution," one newly ex-employee told hitsdailydouble.com. "External factors have forced it to consolidate in recent months, and to rebalance itself accordingly. They are intent upon survival, and eventually to thrive again, and I believe they will do what is necessary to achieve that goal. Plus, they said I could crash on their couch until I get a new gig."


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