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LOS ANGELES-In a move to decrease costs, Youbet.com Inc. said it will immediately reduce its work force by 29 percent, or 34 employees, and combine its online horseracing and sports-related products into a single Web site.
In conjunction with the restructuring, Youbet said A.L. Frank, the company’s president and chief operating officer, has left the company. Executive Vice President Ron Luniewski has been named to the additional post of COO, replacing Mr. Frank.
The interactive-technology firm said the job cuts are intended to conserve cash in order to continue the development and expansion of its core horseracing business, including the introduction of its Internet-based product.
“We
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