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CDNow cuts most of sales staff

Online music site CDNow laid off most of its sales staff Tuesday and made cuts in other departments as well, according to sources close to the company. This is among the first round of layoffs for the Fort Washington, Pa.-based company since it grappled with near insolvency last summer. German media conglomerate Bertelsmann rescued CDNow last July when it acquired it for $117 million.

Online music site CDNow laid off most of its sales staff Tuesday and made cuts in other departments as well, according to sources close to the company. This is among the first round of layoffs for the Fort Washington, Pa.-based company since it grappled with near insolvency last summer. German media conglomerate Bertelsmann rescued CDNow last July when it acquired it for $117 million.