Microsoft is reporting that according to Comscore its Live Search Cashback program accounted for 12% of all commercial transactions on the web. The transactions came from the approximately 4.5 million unique users in the program. Two big questions still remain: Will this tactic have any effect on Google’s Search business AND how will major affiliate networks (including Google) be impacted Live Search?
Layoffs Speed Up as Firms Struggle
Online companies continued to announce layoffs including:
Sun Microsystems – Had the biggest announcement this week cutting 5,000 jobs about 15% of its staff
Orbits – Eliminated 160 jobs about 10% of its staff
Shopzilla – Cut 30 jobs about 10% of its staff
Six Apart -Let go of 16 jobs about 8% of its staff
Jobster – Trimmed 15 jobs about 38% of its staff
Circuit City Files for Bankruptcy Protection
Aggressive job cuts and store closures were not enough to keep Circuit City from filing for Chapter 11 bankruptcy on Monday. In its filing, Circuit City listed assets of $3.4 billion against debt of $2.3 billion. The company hopes that the bankruptcy will enable it to reorganize and remain operational through the holiday season.
Kowabunga Hires New President
Kowabunga announced Richard K. Howe as its new CEO and president . Howe previously was chief marketing/business strategy and M&A officer at Acxiom Corp., an interactive marketing services company.
Tags: Live Search Stats
