EMusic Cutting One-Third of Staff

REDWOOD CITY, Calif. (AP) â€” EMusic.com is cutting 66 jobs, or more than a third of its staff, and three top executives are leaving. <br><br>The online music retailer said Friday staff will be reduced

Monday, January 15th 2001, 12:00 am

By: News On 6

REDWOOD CITY, Calif. (AP) â€” EMusic.com is cutting 66 jobs, or more than a third of its staff, and three top executives are leaving.

The online music retailer said Friday staff will be reduced in all of the company's departments, and two New York offices will be consolidated.

The company said the cuts â€” part of a corporate restructuring â€” will save more than $16 million.

``We have taken today's actions in order to withstand the combined effect of widespread illegal distribution of digital music and the significant market decline for Internet advertising,'' said Gene Hoffman, EMusic's president and CEO.

The company also said chief financial officer Joseph Howell; interim chief operating officer Peter Astiz; and James Chapman, a top business development executive, are leaving the company.

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On the Net:

http://www.emusic.com