will "indefinitely" postpone the implementation of previously planned business-to-business, term-life insurance and cellular-telephone services, in a bid to be profitable.
The name-your-own price Internet company also said it has eliminated about 48 positions, or 11% of its workforce, as a result of the postponements and efficiency moves. The company said restructuring and other charges associated with the moves would be reflected in its fourth quarter.
priceline, which is based in Norwalk, Conn., also said it ended discussions with Japanese firm
to introduce priceline.com to Japan. The two companies signed a nonbinding letter of intent in July and a formation agreement in September to form a new company, but said today that a definitive agreement couldn't be reached.
Shares of priceline ended the regular session at $1.88, but recently rose to $1.94 in after-hours activity on the