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Napster lays off 15%

Written by Petteri Pyyny @ 24 Oct 2001 3:09

Napster announced today its history's first round of layoffs, handing out pink slips for 16 members of its staff or 15% of total 104 employees. Layoffs weren't targeted on any specific division of the company and were made -- just like any other layoffs in any other company -- to cut the costs.
Napster has developed its legal service last year or so and has received about $100 from Bertelsmann, mostly in loans, to fund its operations until the service launches, which should happen before the end of the year.

<Bertelsmann licenses technology from Napster >Bunch of Q3 financial reports and some other stuff
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