Dot Com News from Week of January 29, 2001

• 2/2/01 - Gameplay PLC said that it plans to cut 275 jobs and close retail outlets in a restructuring intended to shorten the path to profitability. Gameplay also plans to split its operations into two divisions, one focusing on technology -- including e-commerce and online gaming -- and the other on boxed games.
• 2/2/01 - Internet appliance maker Netpliance Inc. laid off 54 percent of its work force in a cost-cutting measure, and two co-founders of the struggling company resigned. Netpliance will have approximately 50 employees at the conclusion of these layoffs. Netpliance provides infrastructure products for next-generation premium residential IP voice, video and data applications.
• 2/2/01 - Petopia.com, an online pet products retailer whose major backers include Petco Animal Supplies and the NBC television network, withdrew its plans to go public, saying it has sold nearly all of its assets and no longer conducts business.
• 2/1/01 - In hopes of turning a profit by the end of the year, buy.com - an Internet megastore - said it will layoff off 25 employees - 10 percent of its staff - sell its operations in the United Kingdom and shut down its Canadian store. Last November the company abandoned its Australian operation.
• 2/1/01 - Online sweepstakes company AllAdvantage.com has shuttered its Web site. The company's Web site states: "We are sad to report that the major changes in the marketplace that occurred during the last year now require that we close the AllAdvantage Viewbar and our pay-to-surf, sweepstakes and other incentive programs. We would like to extend our gratitude to all of our loyal members who have been with us on this great adventure.
• 2/1/01 - Escrow.com, a transaction-settlement services provider, said it cut 30 employees. The company said the layoffs included full-time, part-time and contract workers, and are part of an effort to streamline operations and achieve profitability.
• 2/1/01 - MyTurn.com, a maker of scaled-down personal computers, asked its employees to take unpaid vacations or drastic salary cuts while it sought an emergency infusion of cash that would keep the company alive. MyTurn has laid off all but four workers. The company said that it had been unsuccessful in lining up money from outside investors, and as a consequence laid off 96 of its 100 remaining employees.
• 1/31/01 - ThoughtWorks Inc., which builds complex information-technology systems for companies such as Cisco Systems Inc. and Sun Microsystems Inc., acknowledged making widespread use of illegally copied software from Microsoft Corp. and IBM and has agreed to pay $480,000 to avert litigation.
• 1/31/01 - Internet consultant Concrete Inc. laid off 30 workers, or 30%, of its 100 employees, in a bid to return to profitability after two consecutive quarters in the red.
• 1/31/01 - Charles Schwab Corp., facing sagging revenue, has already slashed the pay of top managers. Now, the nation's largest online-brokerage firm is asking its employees, including co-Chief Executives Charles Schwab and David Pottruck, to take some Fridays off in an effort to cut costs. Under the unusual plan, between 30% and 50% of the firm's 26,000 employees will be asked to take three Fridays off in the next several weeks, substituting them for vacation days.
• 1/31/01 - LifeMinders Inc., an online direct-marketing company, said its chief executive stepped down and announced it cut 19% of its work force. The company said it laid off 31 employees on Jan. 5, and currently has 142 employees.
• 1/31/01 - LetsBuyIt.com has announced it will cut around 200 of its current staff of 350. Less than a week ago, a venture capital firm headed by an ex-hacker said it would sink $47 million into the troubled European co-buying portal.
• 1/30/01 - MVP.com, the online retailer of sports and outdoor equipment backed by former Denver Broncos quarterback John Elway, is closing and its remaining 43 employees will lose their jobs over the next several months.
• 1/30/01 - Amazon.com posted a a fourth-quarter loss that slightly exceeded expectations and said it will lay off 15 percent of its staff, or 1,300 employees, as it strives to become profitable by the end of the year.
• 1/30/01 - Epinions, an advertising-supported online forum for product reviews by consumers, laid off more than a quarter of its staff (24 of its 88 workers), citing a renewed push toward profitability.
• 1/30/01 - Terra Lycos said it bought online financial community firm Raging Bull from AltaVista Co., which is majority-owned by CMGI Inc., in an all-cash deal aimed at increasing traffic to the Spanish Internet media company's network of sites.
• 1/29/01 - iPrint.com, an online printing technology and infrastructure provider, said the company is planning cost cutting initiatives which include reducing or eliminating non-profitable areas of business, geographical relocation of operational functions, building consolidation, and appropriate head count reductions.
• 1/29/01 - Walt Disney Co. said on Monday it will shut down its struggling Internet portal, GO.com, laying off about 400 employees and taking second-quarter charges of more than $800 million for the overhaul of its Web operations.
• 1/29/01 - A note posted on the GreatEntertaining.com Web site: We regret to inform you that GreatEntertaining.com will be closing its doors. All orders that have been placed will continue to ship. Thank you for your patience and understanding. Last day to shop is Jan 29th, 5pm Pacific Time.