Technology

Posted: Mon., Nov. 20, 2000

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Thirty staffers log off of ArtistDirect

Cyberbiz Brief

Recently reporting increased net losses with no significant revenue gains from its previous quarter, online music company ArtistDirect has pinkslipped 30 employees. Before the across-the- board cutbacks, ArtistDirect reportedly employed about 250. Repeating the mantra of many struggling Netcos, company said the layoffs were part of an effort to increase efficiency and accelerate profitability by reducing its burn rate. Shares of ArtistDirect fell 15% on Friday to close at 69¢.

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