SportsLine.com To Cut Work Force
Thursday, April 19th 2001, 12:00 am
By: News On 6
FORT LAUDERDALE, Fla. (AP) _ SportsLine.com plans to slash up to 92 jobs, or 20 percent of its domestic work force, because of a weakening advertising market and slowing economy, company officials said.
The South Florida-based sports Internet firm, which runs the Web site for CBS Sports, said Wednesday that the firm will take a $3 million charge this quarter because of the job cuts, but will save up to $10 million annually.
SportsLine.com reported a net loss of $23.8 million, or 89 cents per share, during the first quarter of 2001 compared with a loss of $21.9 million, or 85 cents per share, a year earlier.