• January 19, 2001

Jupiter Media Metrix is slashing 80 employees from the payroll. The New York-based Internet research firm cited the soft economy and a disappointing fourth quarter for the eight-percent cut in its 1,000-person workforce.

On Wednesday, the company warned that revenues for the fourth quarter would reach $38.2 to $38.5 million, falling short of prior forecasts of $39.5 and $42 million. Jupiter Media Metrix also expects a net loss between 22 and 23 cents per share, versus a previous projection of one cent per share.

"The rapidly softening economy directly impacted our revenues, and left us with expenses that were based on previously planned, higher growth rates," said Tod Johnson, chairman and CEO of Jupiter Media Metrix.