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Short Take: Advertising.com cuts 25 percent of staff

Advertising.com says it will lay off 72 employees, or about 25 percent of its staff, in a cost-cutting measure. The online advertising services company said the layoffs are the result of softening in the market and are meant to accelerate profitability in 2001. Investors in the Baltimore, Ma.-based company include Access Partners, America Online, Credit Suisse First Boston, New Enterprise Associates and WorldCom Venture Fund.

Advertising.com says it will lay off 72 employees, or about 25 percent of its staff, in a cost-cutting measure. The online advertising services company said the layoffs are the result of softening in the market and are meant to accelerate profitability in 2001. Investors in the Baltimore, Ma.-based company include Access Partners, America Online, Credit Suisse First Boston, New Enterprise Associates and WorldCom Venture Fund.