Thursday, November 5, 2009

Classmates Cuts 71 Jobs

Seattle-based Classmates.com, an online site which helps people connect with old friends and classmates, has cut 71 employees, according to the firm's parent, United Online. United Online announced the cuts, part of a restructuring at the company, during its conference call Wednesday afternoon. United Online said that the reduction in force occurred Tuesday, and represented 17% of its workforce in the Classmates segment. The firm also cut an additional 25 positions in its dial up and communications business. The two cuts represent an overall, 5% cut at the firm. United Online said it expects to save $10.5M in annual costs from the cuts.