Despite being listed as one of China's hottest Web portals,
Sohu.com slashed 126 jobs, about a fifth of its work force. The company
said in a statement the layoffs would be felt mainly in redundant
administrative and content production positions following its earlier
acquisition of Chinaren.com.
In Hong Kong, TVB.com sacked 54 of its 150-strong workforce.
The closure came just a week after media tycoon Jimmy Lai closed adMart,
his online shopping and delivery business, resulting in a loss of 344
jobs because the company was unable to change old economy shopping
habits.
Meanwhile, Asia Online layed off more staff and closed its operations in
the US and Canada.
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