It takes less of an iVillage (IVIL) than people thought to run a Web site.
The women-focused Internet company, which completed a deal to acquire
earlier this week, said in a conference call Thursday evening that it was cutting its staff nearly in half, going from a head count in the "high 300s" to less than 200 in the next 60 days.
The company, which is receiving a cash infusion from Women.com shareholder
as part of the transaction, says it's making the cutbacks to bring iVillage and Women.com's combined annualized expenses down to the range of $65 million to $75 million from $100 million by the end of 2001.
The transaction and cost-cutting measures are further examples of how once-competitive Internet media companies, such as
, are joining forces in the hopes of cutting costs, pooling resources and surviving the online advertising drought.
iVillage, which endured a brush with possible
delisting in April and May, closed at $1.28 Thursday, down 4 cents. (U.S. stock exchanges typically move to delist stocks after they trade below a dollar for around a month.) The stock, which soared above $100 after it went public in early 1999, has a 52-week high of $9.06.