More NewsNo Cuts Planned for 24/7 Media Asia, Engage Asia

No Cuts Planned for 24/7 Media Asia, Engage Asia

Despite difficulties at their U.S. parent companies, both 24/7 Media Asia and Engage Asia will not be cutting staff, the companies said Friday in separate statements.

Despite difficulties at their U.S. parent companies, both 24/7 Media Asia and Engage Asia will not be cutting staff, the companies said Friday in separate statements.

“Since acquisition, there are no current plans to lay-off staff,” said Ross Hughes, marketing manager of Engage Asia/Australia, in a telephone interview. Engage Asia was formed in August when Engage, a CMGI company based in Massachusetts, acquired Space Asia. Hughes added, “Engage is looking at Asia as one of its biggest growth opportunities.”

24/7 Media Asia, a joint venture between New York-based 24/7 Media and chinadotcom corporation, said that layoffs in its U.S. unit would not be replicated in Asia. “The cut is a result of redundancies as 24/7 Media, Inc. made some strategic acquisitions earlier, [and has] nothing to do with the business here in Asia,” Helen Lee, director of regional marketing, Asia Pacific for 24/7 Media Asia Ltd. told asia.internet.com via email.

24/7 Media Inc. missed its earnings estimates for 3Q2000 Wednesday, and stated it would cut 200 jobs. The same day, Engage announced the resignation of its chief executive officer Paul Schaut along with an earnings warning for the first quarter of its fiscal year 2001. Engage had already terminated 175 positions in September to reduce losses.

–By Steven Schwankert, Managing Editor, asia.internet.com

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