Aptimus, Seattle, WA, has terminated 68% of its staff and plans to close its consumer Web sites as it repositions itself as a direct marketing advertiser.
The company plans to focus all resources on building its direct marketing network, The Aptimus Network, which launched last August offering ad space on a cost-per-action basis.
As a result of the restructuring, the company will shutter its consumer Web sites FreeShop.com, Desteo.com and CatalogSite.com over the next several months.
About 120 employees were terminated Tuesday leaving about 60 on board. In January, the company laid off 22 employees.
The company is expected to report lower revenue and expense projections and has delayed it fourth quarter earnings release call until March 2.
Aptimus has also decentralized its Seattle-based sales force to focus on large-scale clients in major markets such as New York, San Francisco and Seattle. As part of this effort, Dave Wilson has been named vice president, strategic solutions. Wilson most recently worked as president for Traction Interactive, the interactive division of PIS Worldwide.
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