E-Stamp Jumps as It Cuts Workers

E-Stamp

(ESTM)

was up 33.3% in preopen

Island

trading after it said it will drop its main business, Internet postage, and cut its workforce by 30%. The company, whose stock once traded at $40, said it would focus on Web-based shipping and logistics. It announced a deal to direct postage customers to

Neopost

, a French postal equipment maker that operates a service called

Simply Postage

.