MIVA Reducing Work Force by 20%
Online advertising network MIVA has announced that it will be restructuring its business to reduce operating costs and save about $10 million.
“This next course-correcting step, while difficult, is fundamental to achieving our turnaround goal for stabilizing cash and returning to positive operating margins,” said CEO Peter Corrao in a statement. The company expects to cut its workforce in the US and Europe by about 20% by the end of May 2007. MIVA has its headquarters in Fort Meyers, Florida and has offices in New York, and several in Europe. MIVA expects the initial cost of restructuring to reach about $4 million.
“This step complements our strategy for increasing the overall mix of MIVA-owned primary traffic, which we believe over time, will facilitate higher gross margin revenue on top of a more efficient cost base,” added Corrao.
MIVA’s pay-per-click network covers North America, the UK, France, Italy, Germany, and Spain. It also provides e-commerce, email marketing and SEO services. MIVA has not yet released its fourth-quarter earnings for 2006. According to a press release, the company will release those numbers in March 2007.
Tags: MIVA and PPC
Article Sponsor
More News
Spotlight
Six Mistakes You’re Making with Landing PagesADOTAS — Landing pages represent the tipping point for affiliate marketers. When a potential customer reaches a landing page, he [...] more...
Latest News
- Blogshare: Pinterest, Now Rich with Pinformation May 23rd 2013 ADOTAS (via Edelman Digital) — Pinterest has always been defined [...] more »
- Six Mistakes You’re Making with Landing Pages May 23rd 2013 ADOTAS — Landing pages represent the tipping point for affiliate [...] more »
- Why Cheap Affiliate Management Does Not Work May 23rd 2013 ADOTAS – More often than not, companies that are not [...] more »
- Combatting Click Fraud: An Ad Network Checklist May 23rd 2013 ADOTAS — Click fraud remains a nettlesome problem for advertisers, [...] more »
- AFAIK: Quantasy, SDL, MARS Advertising, Concentric, engajer, Burstly May 23rd 2013 ADOTAS – Here’s what we herd through the digital grapevine [...] more »
- Blogshare: Twitter Launches Lead Generation Card May 23rd 2013 ADOTAS (via MediaWhiz) – [Yesterday's] announcement by Twitter of the [...] more »
- Wired to Share: New Research from ShareThis and Digitas Reveals Important Insights into Digital Sharing Behavior of Moms May 22nd 2013 PALO ALTO, CALIF., May 22, 2013 (ADOTAS) – In one [...] more »
Features
- Blogshare: Pinterest, Now Rich with Pinformation May 23rd 2013
- Six Mistakes You’re Making with Landing Pages May 23rd 2013
- Why Cheap Affiliate Management Does Not Work May 23rd 2013
- Combatting Click Fraud: An Ad Network Checklist May 23rd 2013
- Blogshare: Twitter Launches Lead Generation Card May 23rd 2013
-
Loading ...
Reader Favorites
Classifieds
- Business Analyst - IT Operations
- Client Relationship Manager
- Print and Web Manager
- SEO Marketing PPC Specialist
- Marketing Summer Internship at Clean-Tech Educatio
Recent Comments
- ISA Computer: This is great for a more catchy ad.
- Brands & the Next Internet Wave: What You Need To Know | Domain Hacking: [...] Permalink [...]
- JamalK: Thanks for this Richard! I think its really difficult to make a case for how
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership: [...] The live video post was the third most read article of the day, followed
