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More dot.com casualties
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February 5, 2001: 7:15 p.m. ET
Razorfish, Infospace unveil job cuts in restructuring moves; eToys nears end
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NEW YORK (CNN) - A trio of online businesses said Monday they were eliminating jobs in an effort to stay afloat as dot.coms continue to struggle for survival in a hostile market.
Razorfish Inc., which provides Internet Web design and consulting services, said it was cutting 27 percent of its global work force as part of a cost-cutting plan aimed at saving the company about $70 million in 2001.
New York-based Razorfish (RAZF: Research, Estimates), which was founded in 1995, said in a statement it was eliminating 400 jobs from its total work force of 1,500 as it works to improve profitability and shareholder value.
Coming on the heels of Razorfish's announcement, InfoSpace Inc. (INSP: Research, Estimates), a provider of services on wireless and broadband platforms, said it will eliminate 250 jobs, or about 20 percent of its work force, as the company focuses on its high-growth areas.
Meanwhile, financially beleaguered online toy seller eToys told its remaining employees that it is unlikely they will have their jobs after the end of March.
 Razorfish said it was restricting expense policies in certain areas, streamlining some regional departments, and expanding its use of partnerships and alliances as part of the restructuring program.
Bellevue, Wash.-based InfoSpace said it will announce details in the next three weeks on measures its taking to grow the business in 2001 and beyond. It will also provide revised financial guidance for 2001 and new guidance for 2002.
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"As part of the final integration of Go2Net and our renewed focus on our strongest growth areas, we have reexamined the business and its needs, said InfoSpace Chief Operating Officer Ed Belsheim. "The refocus of the company has led us to de-emphasize those parts of our business that are low growth and non-scalable and align our resources and costs along the strong growth areas."
Shares of Razorfish closed down 16 cents to $1.81 on the Nasdaq. The stock has traded in a 52-week range of $1 to $56.94. Shares of Infospace lost 56 cents to close at $4.25. 
--from staff and wire reports
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