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Ask Jeeves to cut staff

Daily Planet wire services
Wednesday December 13, 2000

EMERYVILLE— Internet company Ask Jeeves Inc. on Tuesday said it will cut 25 percent of its workforce and take a fourth quarter charge of $10 million to $12 million for a restructuring that follows a recent earnings warning.  

Last week, Ask Jeeves said it expected a fourth quarter pro forma loss of $18 million, or 50 cents a share. Analysts had expected it to report a loss of 33 cents a share, according to investment research firm First Call/Thomson Financial. 

On Tuesday, the company said its staff cut, which amounts to about 180 full-time positions,will reduce costs by about $45 million in 2001.  

It said it expects to achieve profitability in the fourth quarter of 2001.