Black Monday for First Tuesday

Dot-com networking organisation First Tuesday looks set to announce further job losses after a number of redundancies in its London offices.

Rumours also surround the future of First Tuesday founder Julie Meyer who is said to be leaving the company to set up an internet incubator. When questioned, Meyer told silicon.com she is making no statement at this time. Two support staff in London left the company on Friday and a business development employee resigned, reducing numbers in the London office to 27. A statement to be delivered later today is expected to confirm staff will also be leaving the company's New York office. First Tuesday, which began in London in October 1998 as a meeting place for investors and innovators, grew quickly to a network across 85 cities in 42 countries. In July the company was the subject of a $60m take over by New York-based internet start-up investor Yazam. A spokesman for First Tuesday in London said this morning that the company is working on a game plan for the future and re-focussing its efforts. Adding that the company had "lots of money" he said that such re-structuring was normal after any takeover. By Geoffrey Davies For related news, see:
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