Netcentives announces more lay-offs and NASDAQ de-listing

Troubled San Francisco-based Netcentives Inc. today announced a further workforce reduction, bringing its employee base to 130 from 180. The company said the reduction will not impact the e-mail marketing group, which the company previously announced is for sale.

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In August, Netcentives announced it will reduce it workforce from 345 to 180. It also said it will close its Dallas, Florida, Phoenix and New York offices and consolidate its office space in San Francisco, that it will focus its research and development primarily on the loyalty side of its business and that it had retained U.S. Bancorp Piper Jaffray to sell its e-mail business formerly known as Post Communications Inc. It said it is exploring divesting other non-core assets. Netcentives also announced in August that it had sold its 49% membership interest in Golden Retriever Systems,LLC for $5 million to Vital Processing Services.

To top things off, NASDAQ has notified Netcentives that it will de-list the company from trading on the National Market based on non-compliance with the $1 minimum bid price requirement for continued listing. The company said it will not file for an appeal and will be delisted from the Nasdaq National Market this month.