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HotJobs.com cuts workforce - 04/2001

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HotJobs.com has trimmed its workforce by 15 percent since the beginning of the year. Excluding the effects of the one-time restructuring charge associated with the workforce reduction, HotJobs remains comfortable with its first quarter financial estimates.

In an ongoing effort to streamline our operations, we have made workforce adjustments to better optimize our resources. We are reducing our costs to better position ourselves to become profitable no later than the fourth quarter of 2001, said Dimitri Boylan, HotJobs' acting President and CEO.

As a result of this workforce reduction, HotJobs is anticipating a one-time restructuring charge of $2.5 million to $3.0 million in the first quarter of 2001.

HotJobs plans to release its first quarter 2001 financial results and conduct its quarterly conference call during the first week of May 2001.

www.BusinessWire.com