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Emblaze sends staff on week holiday

TheMarker.com Staff

Emblaze (LSE:BLZ) has sent all its 450 workers on a week-long holiday, a practice many companies have adopted for the holiday season.

Emblaze CEO Eli Reifman commented that this is the first time Emblaze has done this. "The goal is to concentrate all the workers' vacations at one point in time," he explained, thus improving the company's efficiency and saving costs.

He expects Emblaze to persist with the policy in years to come.

A month ago Emblaze announced the dismissal of 70 people, which it blamed on the tough telecoms environment.

Emblaze develops technology to transmit video over cellular networks. For 2001 it reported $9 million revenues, compared with forecasts of $23 million for 2001. For 2000 it reported revenue of $31 million.