Space.com Announces Restructuring, Layoffs

Posted on September 29, 2000

Space.com, a space multimedia company, has announced a strategic reorganization. The company will be organized on a business unit basis including Publishing, Internet, Software, Broadcast, Sales and Marketing, and Technology. The company's operational restructuring also includes the layoff of 22 of its 108 employees.

Management changes include the promotions of Dr. Andrew Schwab from Vice President, E-commerce to Senior Vice President, Internet, responsible for all Internet properties and operations including the company's principal website, Space.com; and Alan Ladwig, current Director of Washington Operations to Vice President. Barry Frey, Senior Vice President, Global Sales and Sponsorship adds marketing to his sponsorship and sales responsibilities.

``Space.com has grown rapidly since its inception and like many new media companies, we've reached a point where it is necessary to consolidate to continue our aggressive growth strategy,'' said Space.com Chairman and CEO Lou Dobbs. ``While this restructuring will further strengthen the fundamentals of our business, it regrettably requires a reduction in our staff. We are committed to providing our support to these employees and have provided severance packages and outplacement assistance to those affected. We want to thank each of them for their hard work, dedication and contributions to the development of Space.com.''