More NewsMore Staff Cuts as iVillage Hunkers Down

More Staff Cuts as iVillage Hunkers Down

The online media company said the layoffs were part of plans to hunker down and turn a pre-tax profit in the fourth quarter this year.

By @NY Staff

Anticipating ad-dependent revenues to be flat or down in the fourth quarter this year, New York-based women’s network iVillage Inc. announced it would cut 18 percent of its workforce, a move that affects 50 employees.

The six-year-old media company, which runs the iVillage.com, Women.com and Business Women’s Network (BWN) destinations, said the layoffs were part of plans to hunker down and turn a pre-tax profit in the fourth quarter this year.

“Based on current market conditions, (we) anticipate 2002 revenues to be flat to up slightly over 2001 revenues. As a result of a continued downturn in ad spending across the industry and disruptive conditions in the overall economy, iVillage expects fourth quarter 2001 revenues to be flat to down 10% from third quarter 2001 revenues,” the company said.

iVillage spokesman Carl Fischer told atNewYork the staff cuts were evenly distributed in every department within the company and was linked to the continued integration of Women.com, the California-based portal it purchased earlier this year.

Prior to the Women.com merger, iVillage implemented a round of layoffs, which was aimed at eliminating overlap at Women.com offices in San Mateo, CA and New York.

In the most recent quarter, iVillage said its position as the dominant vertical portal for women helped it weather the storm in the online ad sector.

At the end of the quarter, iVillage had approximately $43.7 million in cash and cash equivalents on its balance sheet. The company has no debt.

Related Articles

GDPR: The role of technology in data compliance

Data & Analytics GDPR: The role of technology in data compliance

3w Clark Boyd
What companies can learn from the We-Vibe lawsuit about the Internet of Things

Legal & Regulatory What companies can learn from the We-Vibe lawsuit about the Internet of Things

8m Al Roberts
Has advertising arrived on Google Home?

Media Has advertising arrived on Google Home?

8m Al Roberts
Is Twitter slowly dying?

More News Is Twitter slowly dying?

9m Al Roberts
FedEx launches fulfillment service to take on Amazon

Ecommerce FedEx launches fulfillment service to take on Amazon

9m Al Roberts
Target is the top retail digital marketer, so why is it struggling?

Ecommerce Target is the top retail digital marketer, so why is it struggling?

8m Al Roberts
YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

More News YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

9m Al Roberts
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

9m Al Roberts