said it will cut about 10% of its staff and disclosed plans to split its U.S. business into two separate units.
The company, a provider of Internet marketing and advertising services, expects to have about 1,850 employees by the end of the second quarter. Most of the job cuts will come from DoubleClick's global media unit, which is expected to provide less than 20% of the company's gross profit in 2001.
In the U.S., DoubleClick will split into one network to focus on branded sites and another for audience reach and targeting. One media sales force will sell the services of both networks. Outside the U.S., DoubleClick's structure will remain the same.
trading, the New York-based company lost 25 cents, or 2.3%, to $10.69.
Though DoubleClick's announcement signals continued belt-tightening, others in the Internet advertising business are doing worse. Fellow Net ad firm
postponed reporting its fourth-quarter financial results, originally scheduled for Feb. 26, saying it was "actively evaluating strategic alternatives to improve its cash position."
Those financial results, as well as the cash-position update, are expected after the market's close Tuesday. 24/7 Media's stock was trading at 69 cents, up 3 cents, on Tuesday morning.