InfoSpace ( INSP - Get Report) is cutting 250 employees, or about 21% of its workforce, as part of a restructuring plan.

By eliminating the jobs, the Internet infrastructure provider said it will be poised for growth in the wireless, merchant and broadband areas.

The company, which is based in Bellevue, Wash., will announce the remainder of its restructuring plans, as well as revised guidance for 2001 and new guidance for 2002, in the next few weeks.