NetValue joins the cost-cutting club

And guess what: headcount reduction on the cards...

Website traffic measurement outfit NetValue is to announce significant redundancies when it releases its second quarter results later this week. Some cut backs have already been announced this year, but more job losses are now expected as competition in the site monitoring market increases and demand tails off. A NetValue spokeswoman is quoted by the Sunday Business as saying: "Management has seen the market for audience measurement is more limited than previously forecast, so revenue projections have been scaled back." The company was originally expecting revenues of E25m this year, but is now looking at E10m. The company said it needs to reduce costs further if it is to reach its aim of breaking even in 2002. The announcements will be made on Wednesday.