According to a new report, about 21 dot-coms closed down in the first half of November 2000, following the monthly high of 22 in October, according to a study from Internet research site Webmergers.com. E-commerce sites, such as Furniture.com and Toysmart.com, accounted for 60% of the casualties. Business-to-business companies accounted for about 20% of the total, with content companies such as APBnews.com making up a quarter of that group.
More than 60 companies—including AltaVista, Qwest Communications International, and Drkoop.com—have slashed their work forces this year. Content companies and online retailers, such as Oxygen Media, Amazon.com, and AllAdvantage.com, make up a large part of the layoffs as well, climbing to a sector record of 5,677 in October, according to a report by outplacement firm Challenger, Gray & Christmas. TheStreet.com, the online financial news service whose once-soaring stock helped to symbolize the Internet craze, said yesterday that it would lay off about 20% of its work force (40 of 219 employees) in a broad-ranging effort to conserve remaining cash as it strives to make its first profit.
[One notable exception is “FMLink — Your FM Resource on the Internet.” The online publication (you’re reading it now) is for facilities professionals and those actively associated with the facilities field. FMLink has been publishing without interruption since 1995, according to publisher Peter S. Kimmel, and he thanks all readers, staff, and advertisers for the longevity and success of the online publication.]
According to the study, California was home base for the highest number of failed dot-coms, with New York second. European companies made up 8% of the list. Less glamorous industries like Internet infrastructure are creating jobs faster than failing Web companies can eliminate them.
Based on a report from officeinsight
