Nomad II Big Wait? / Emusic Lays Off 20% of Workforce

Check this! What about the Nomad II deal? Are we going to have a problem with this? EMusic.com to lay off 20 percent of staff By Evan Hansen Staff Writer, CNET News.com June 14, 2000, 5:20 p.m. PT Online music retailer EMusic.com today said it will lay off 20 percent of its work force as a cost-saving measure. The company today also announced that it expects to post record revenues for the second quarter, which ends June 30. The company said the layoffs and other measures will save the company $15 million during the next year. "While the market for downloadable music is poised for tremendous growth, we recognize the need to manage our expenses wisely and aggressively," said Gene Hoffman, EMusic CEO. EMusic joins a growing list of dot-com companies that have been forced to cut employees in a bid to stay alive. An increasing number also have had to close their doors. EMusic launched in 1998, one of the first companies to sell music downloads. The company charges 99 cents for most singles on its Web site. The company has 180 employees after today's layoffs. __________________ quote: Originally posted by franco46: The company today also announced that it expects to post record revenues for the second quarter, which ends June 30. ...and record low profits, I bet. I want my Nomad II! __________________ ah crap....now where is that nomad ii..... man i better get this...don't want another dispute coming... __________________ on the bright side they're trying to stay alive. lets just cross our fingers for the next few weeks then they can do whatever they want with their work force