Skip to main content to Cut 34 Jobs

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, the Internet unit of

Knight Ridder


, lowered its net headcount by 34 jobs as part of a restructuring move to become profitable by the end of 2002 and concentrate on its CareerBuilder recruitment network.

The company cut 68 jobs in total, or nearly 16% of the work force, but created 34 new positions. said the planned restructuring will enable the company to double the size of its online employment sales force. Online recruiting provides 42% of's total revenue

Shares of Knight Ridder were recently up 2.4%, or $1.25, to $53.19 on the

New York Stock Exchange