CNET Fires 10% Of U.S. Staff; Restructuring to Cost $3.5 to $4 Million

Reuters is reporting that San Francisco-based CNET (CNET) has fired 10% of their workforce today. The worldwide reduction amounts to 4.4 for a total count of 120 employees.

From Reuters, "CNET expected pre-tax restructuring charges from the job cuts to run between $3.5 million and $4 million, most of which will be taken in the first quarter of 2008. The job cuts are effective immediately." 

I sure hope none of my Webware friends were fired! Check out my article from January which looks at one reason CNET is in the mess they are currently. I’ve heard from the Webware team – they are safe.

Update: PaidContent has the memo from CEO Neil Ashe regarding the reorg – it’s quite a lengthy read. It always gets me when CEOs discuss the importance of the team when they just escorted x employees out of the building.