[BusinessTeam] Primedia Cuts 160 Following About.com Merger

Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F632782374@exchange01.lab49.com> · Fri Mar 16 22:28:17 2001 UTC

Primedia Cuts 160 Following About.com Merger 

By @NY Staff 

New York-based publishing giant Primedia Inc. has laid off 160 employees 
from two of its business units following the closing of its acquisition of

About.com. 

In a statement, Primedia said 140 positions were eliminated at its
Intertec 
business-to-business division and another 20 employees were let go at 
IndustryClick. 

"The reorganization includes a consolidation of functions, driven in large

part by efficiencies that can be brought about as a result of integration 
initiatives," a statement said. 

The company also said the integration initiatives include the merger of 
About.com's ABZ Inc., a network created last year to leverage About's 
technology, business model and customer base for the business-to-business 
space. 

"By focusing on the opportunities that the combination of traditional and 
new media businesses afford, we will enhance revenue growth by creating a 
more nimble and accountable organization," said David Ferm, CEO of 
Primedia's business-to-business group. 

*Got tips or comments? E-mail atNewYork. 

March 16, 2001 

Ashley Ching 
nano 
212.430.3722 
ashley@nano.com 
www.nano.com 

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