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Supertracks cuts staff by 60 percent

Supertracks, a provider of secure Internet music distribution services, says it has laid off 60 percent of its work force as part of its efforts to restructure its business. The Portland, Ore.-based company said it eliminated 38 out of 66 employees to focus its business on the sale and licensing of its Internet streaming technology. Supertracks added that it is positioning itself for sale and is in active discussions with potential buyers. The company previously laid off 40 employees, or a third of its work force in September. Founded in February 1999, Supertracks has been a player in the digital rights management arena, hoping to capitalize on digital distribution by offering record labels, music retailers, and others a way to sell music downloads without the fear of online pirates.

Supertracks, a provider of secure Internet music distribution services, says it has laid off 60 percent of its work force as part of its efforts to restructure its business. The Portland, Ore.-based company said it eliminated 38 out of 66 employees to focus its business on the sale and licensing of its Internet streaming technology. Supertracks added that it is positioning itself for sale and is in active discussions with potential buyers.

The company previously laid off 40 employees, or a third of its work force in September. Founded in February 1999, Supertracks has been a player in the digital rights management arena, hoping to capitalize on digital distribution by offering record labels, music retailers, and others a way to sell music downloads without the fear of online pirates.