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 Send to email | Akamai Trims 7% Of Workforce (AKAM) in AKAM |  By Alley In
el 19-Nov-2008 |  No surprise: More cuts in the media/tech business. Content delivery network Akamai Technologies (AKAM) will lay off 110 employees, or about 7% of its workforce, the company said today in a filing to the SEC.
Industry watcher Dan Rayburn says the cuts are across the company's various divisions. Akamai is still hiring for some positions in its new advertising service group, according to Rayburn.
Akamai detailed the charges it'll incur:
As a result of these cost-cutting measures, the Company expects to incur aggregate restructuring charges and other costs of approximately $4.0 million in the fourth quarter of 2008. These anticipated charges consist of approximately $3.8 million for severance and similar personnel-related expenses and approximately $0.2 million in other costs. These costs are expected to be partially offset by a net reduction in non-cash stock-based compensation of $0.8 million, reflecting a modification to certain stock-based awards previously granted to the affected employees. Additionally, the Company expects to recognize a loss on sublease income of approximately $2.5 million related to certain leased facilities. The Company expects to incur total cash expenditures of approximately $6.0 million in connection with these cost-reduction measures.
See Also:
Amazon's CDN Won't Hurt Akamai Or Limelight -- Not Yet, At Least
Akamai Beats Q3, Guidance Weak, Stock Jumps
Akamai Picks Up Ad Targeting Firm Acerno For $95 Million
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| Akamai Trims 7% Of Workforce (AKAM) | | No surprise: More cuts in the media/tech business. Content delivery network Akamai Technologies (AKAM) will lay off 110 employees, or about 7% of its workforce, the company said today in a filing to the SEC.
Industry watcher Dan Rayb [..] Read complete article | | Published 19-Nov-2008 by Alley In in AKAM
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| AOL Trims Mapquest Unit (TWX) | | A tipster tells us that AOL has cut 5 people from its Mapquest unit in Denver. Wrong, says someone familiar with the situation: The correct number is 6 -- out of a 150-person workforce. And the [..] Read complete article | | Published 26-Jun-2008 by Silicon in General
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| Akamai Jumps After Investor Day (AKAM) | | Tech stocks have all taken a dive this fall, but Akamai's shares have taken a particular beating -- down 75% since May. Why? Investors have worried about slower growth in the Web content delivery business, price wars, etc.
Bu [..] Read complete article | | Published 21-Nov-2008 by Alley In in AKAM
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| Akamai-Limelight Patent War Could Drag On 'Til 2010, No Bailout Imminent: Analyst | | The patent war between content delivery networks Akamai Technologies (AKAM) and Limelight Networks (LLNW) could drag on for years, FBR analyst David Hilal warns. And don't expect Akamai to bail Limelight out with a last-second acquisition any time soon, he says.
Earlier this year, a jury found Limelight guilty of infringing a patent owned by MIT, licensed exclusively to Limelight's large [..] Read complete article | | Published 10-Apr-2008 by Silicon in AKAMLLNWLVLTMSFTAMZN
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