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CNet to Cut 10% of Jobs; Sales to Miss Forecasts

June 28, 2002|Reuters

CNet Networks Inc., which operates a Web site offering news, shopping information and other technology items, said it would cut 10% of its work force. It also warned that its second-quarter sales would be short of forecasts.

CNet, which currently has a staff of 1,900, has been hit hard by the high-tech slump and the downturn in online advertising, which is a major source of its revenue.

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