CNN, NBC, AltaVista Lay Off Hundreds
Additionally, Scott Woelfel, president of CNN Interactive, has resigned, along with some other top executives.
Editorially, reports say, the restructuring's keystone will be the creation of a "super desk" in CNN's Atlanta headquarters that will assign stories to all 34 CNN television, radio and Web properties.
Additionally, both NBC Internet and AltaVista announced layoffs yesterday, citing soft advertising. San Francisco-based NBCi plans to cut about 150 employees, or about 30% of its workforce. The cost-cutting move is meant to offset sliding online ad revenues projected for 2001.
NBCi, which previously expected to generate $150 million this year, now sets its 2001 revenue projections at $100 million. Last summer, NBCi, which represents the merger of Snap.com, NBC.com and Xoom.com, slashed 20% of its staff or 170 jobs.
Palo Alto, Calif.-based AltaVista cut 25% of its staff, or 200 employees. AltaVista has made no comment on profitability prospects since last year's announcement that it would be in the black by early 2001. -- Adweek IQ