MIVA to Decrease Workforce by 20%
MIVA, an online advertising network, is going to decrease its active employee base by 20% by May 2007.
MIVA, an online advertising network, is going to decrease its active employee base by 20% by May 2007.
With workforce reductions, MIVA expects restructuring charges to reach $4 million in Q1 2007.
Peter Corrao, chief executive officer, MIVA, said: “This next course-correcting step, while difficult, is fundamental to achieving our turnaround goal for stabilizing cash and returning to positive operating margins. This step complements our strategy for increasing the overall mix of MIVA-owned primary traffic, which we believe over time, will facilitate higher gross margin revenue on top of a more efficient cost base”. [source]
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About MIVA
MIVA is an online advertising network. MIVA delivers qualified leads to advertisers, helps maximize revenue for partners, facilitates commerce for online merchants and provides relevant information to customers.
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