SAN FRANCISCO — CNET Networks, Inc. announced Tuesday it will cut its global work force by ten percent.
The technology news and consumer information company said it will eliminate certain businesses duplicated when it acquired ZDNet in October, 2000.
It will eliminate redundant jobs in some of those divisions, and among support staff in departments such as financial services, human resources and marketing.
About 190 positions will be affected. Half were laid Tuesday; the remaining cuts will occur in the next few weeks.
The announcement came as CNET released revised revenue estimates for 2001, and a day after it announced it would return some of the Internet and print properties it acquired from Ziff Davis Media Inc. last year.
“These are the unfortunate things you have to do as part of business,” said Shelby Bonnie, chairman and CEO.
“Given the current economic environment, we think it’s the prudent thing to do.”
Bonnie said the layoffs were necessary because of lagging ad revenues and an uncertain market environment.
He said the slowdown in the technology sector had hit CNET’s clients hard.