Business Services Industry
Seattle Digital Media Firm Cuts Back Its Webcasting Unit.
Knight Ridder/Tribune Business News, March, 2003
By Brier Dudley, The Seattle Times Knight Ridder/Tribune Business News
Mar. 15--The halls will be quieter at Seattle digital-media company Loudeye, which capped a tumultuous week by laying off roughly a third of its staff members yesterday.
The money-losing company said the layoffs of 43 people are the result of a restructuring and are mostly in its Webcasting business.
Earlier in the week, company Chief Executive Philip Gioia resigned, as did two board members, including Kirkland financier Chad Waite Jr.
On Tuesday shareholders approved a reverse stock split to boost Loudeye's sagging share price.
Then on Wednesday, a consulting company brought in to help manage and restructure the company announced its dealings with...
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