Cnet announced 120 job cuts as part of a realignment. All the layoffs involve U.S.-based employees.
The AP reports that according to CNet documents filed yesterday with the Securities and Exchange Commission, the layoffs would be effective immediately and cost at least $3.8 million in severance pay, outplacement and other expenses.
The Washington Post published an internal memo sent out by CEO Neil Ashe explaining the reasons behind the layoffs. In summary: create a leaner organization, more efficiencies and simplifying their sales approach.