November 24, 2008, 12:00 AM

Content delivery network Akamai to lay off 7% of its workforce

The company says 110 employees will be affected by the layoffs in the fourth quarter. Akamai, whose network speeds delivery of web content to retail sites, says it has not changed its business outlook and will use the savings to invest in growth areas.

Akamai Technologies Inc., whose content delivery network accelerates the delivery of content to retail and other web sites, has announced plans to lay off 110 employees, 7% of its workforce, in the fourth quarter.

The layoffs are part of a cost-cutting plan that will free up funds to invest in such areas as content delivery, application acceleration and advertising, the company says.

"We have not changed our business outlook," said chief financial officer J.D. Sherman. "However, we want to ensure that we can keep investing for growth even in the current economic climate."

Among the top online retailers that use Akamai’s global server network to speed up delivery of content to web users is Amazon.com, No. 1 in the Internet Retailer Top 500 Guide, No. 2 Staples and No. 3 Office Depot.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Anna Johansson / E-Commerce

Why is social proof big for niche brands?

A small online retailer that lacks brand recognition can get a big boost from high ...

FPO

Donn Davis / E-Commerce

Technology takeover: The fashion industry is next

We are now entering the third decade of the Amazon effect, and it is just ...

Research Guides

Advertisement