MEDIA-I: M-Web cuts staff as clients cancel contracts in Asia

BANGKOK: Internet content provider M-Web (Thailand) has laid off 41 employees, or 23 per cent of its staff of 180, citing the economic downturn caused by the events of September 11. The lion's share came from its internet solutions division, where 35 people lost their jobs. Chief executive Craig White said action had to be taken after budgets could not be sustained following the internet division's performance. "We were expecting better results from that team. But post-September 11 we lost contracts," he said. "We have scaled back to a quieter market, so if it picks up, we'll grow at an appropriate rate." Despite not expecting to see a dramatic recovery, White said there would be no further retrenchments. "It is better to cut deeply initially, stretch remaining resources and grow accordingly," he said. M-Web, which was set up three years ago, relies on its internet solutions division for 60 per cent of its revenue, with the remaining 40 per cent coming from advertising. The firm recently did a deal with internet service provider KSC to offer access to M-Web content if a user bought an internet subscription from the ISP.

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