San Francisco-based Mediaplex said 83 employees out of its 295-member staff were notified Thursday morning that they would be let go. The cuts hit various departments within all its offices--including New York; San Francisco; San Jose, Calif.; and Louisville, Ky.--as well as its subsidiary, AdWare Systems.
The announcement comes amid staff reductions at many Internet-related companies. Late Wednesday, San Francisco-based Organic said it plans to eliminate about 270 jobs. Creative Planet has laid off 70 employees, just a few weeks after it secured $30 million in funding. RealNames also said it plans to lay off more employees by the end of the year. And Bigstep.com will cut its staff by 20 percent.
"With what's happening in the industry and the online advertising sector, we decided that it was better to be conservative and to take care of our shareholder interest," said Christine Carbone, senior director of marketing at Mediaplex.
Through its technology, Mojo, Mediaplex works with advertisers and agencies to manage targeted online marketing programs.
The company said it expects that the cuts in staff and operating costs will reduce expenses by approximately $10 million during next year.