Researchers Jupiter Media Metrix is reducing its staff by 30% and adopting other measures that it says will reduce expenses by $40 million a year. The company says the changes are designed to lead the company to profitability. However, a source says Jupiter is preparing itself for sale.
The company also announced management changes, including the promotion of Kurt Abrahamson from group president of the company's U.S. business to president of Jupiter Research, which includes the company's conference business. Will Hodgman, who had been president of the company's AdRelevance division, has been appointed president of the Measurement group, which consolidates Media Metrix, AdRelevance, and Site Measurement product lines. The company also announced it will start a search for a senior executive who will report to CEO Robert Becker and oversee the company's sales and marketing activities.
Jupiter said it will discuss its restructuring during its third quarter earnings conference call and web cast Nov. 6.
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