Netcentives Inc., the San Francisco-based provider of personalized email, rewards and recognition solutions has begun restructuring the organization. The first
initiative in the restructuring is a workforce reduction, which brings the employee base to approximately 180 from 345 salaried employees.
Company officials said that in addition to this initiative
and as part of the Company's restructuring process, Netcentives is working to define a plan to reduce its debt to manageable levels, divest non-core assets and preserve cash flow to fund business
operations.