24/7 Media Inc., the interactive marketing firm, has cut 100 jobs and may close some offices in an effort to reduce operating expenses.
The downsizing was announced today along with an executive restructuring. In one change, Tony Plesner, former senior vice president of strategic planning, has been named chief operating officer.
In addition, R. Theodore Ammon, the non-executive chairman of the company's board of directors, has resigned from the board.
"The steps we are announcing today will enable 24/7 Media to focus on increasing revenue while eliminating redundancies, improving efficiencies and lowering operating costs," said David J. Moore, CEO of 24/7 Media, in a statement.
The New York-based firm will also explore the sale of some assets. Spokesperson Mitchell Simmons said these could include Exactis.com (DIRECT Newsline, April 5, 2001).
The staff reduction, which will leave the staff with 850 employees, will enable the firm to save $10 million.
In another In addition, Geoff Judge, senior vice president of national sales, will take over all U.S. sales Michael Rowsom, general manager of 24/7 Mail, will manage all e-mail list management and brokerage. Will Tifft, general manager of the 24/7 Network, will be responsible for enhancing and promoting the Web sites in the 24/7 Media Network.
"In this marketplace it is imperative that we remain focused on our drive to make this company profitable and to operate in an austere yet business-sensitive fashion," Plesner said in a statement.
