E-Stamp Jumps as It Cuts Workers
E-Stamp
(ESTM)
was up 33.3% in preopen
Island
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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
.
