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SAN FRANCISCO– Technology news provider CNet Networks Inc. is cutting 15 percent of its work force to cope with the slumping high-tech economy. The move followed a 10 percent reduction in February.
The announcement came Tuesday as CNet posted a second-quarter net loss of $218.1 million, or $1.60 a share, 30 percent lower than last year’s comparable figures of $168.0 million, or $1.24 a share. Revenue slid 32 percent, to $71.1 million from $104.3 million.
Adjusting for investment results and other one-time events, CNet lost $23.4
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