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FortuneCity cuts staff

FortuneCity, the UK-based global community website, has axed 20 jobs at its UK office in a cost-cutting move.

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LONDON (Brand Republic) - FortuneCity, the UK-based global community website, has axed 20 jobs at its UK office in a cost-cutting move.

The company, which runs a network of interactive personal publishing, content, utility, entertainment and technology properties, said it was consolidating its content and customer support teams into its New York headquarters.

FortuneCity chief executive Peter Macnee said the cuts were “relative to what’s going on in general in the internet industry at the moment”. He said that no cuts were being made in its other European offices.

The company’s share price on the Frankfurt-based Neuer Markt opened at €1.02 (64p) this morning, down slightly from last night’s close of €1.03 (65p).

www.fortunecity.com



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