, a Web content provider targeting Hispanics, slashed 38 jobs, or about two-thirds of its work force, and is considering strategic alternatives, including a sale of the company.
Shares of the company were recently down 16.7%, or 6 cents, to 31 cents, after resuming trading on the
The company, which went public in June 1999, said it was planning to sell one or more of its units, Real EstateEspanol.com, Etrato.com and Credito.com. In addition, Quepasa will record a restructuring charge of about $730,000 in connection with the job cuts in its fourth quarter ending Dec. 31.
The company also released third-quarter financial results today, which showed a loss of $7.9 million, or 45 cents a share, compared with a loss of $8.3 million, or 58 cents a share, last year. Net revenue rose to $966,581 from $127,684 last year.