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Layoffs Hit Net2Phone

Looking to reduce merger-related redundancies, the Web telephone company has laid off about 5 percent of staff.

July 27, 2001
By Ryan Naraine: More stories by this author:

Burdened with acquisition-related "redundancies" and looking to put a cap on expenses, Web telephone company Net2Phone, Inc. has slashed about 5 percent of its workforce.

A company spokesperson confirmed the layoffs were implemented this week to eliminate redundancies from Net2Phone's recent acquisition of telephony device manufacturer Aplio and Mail.com's e-mail subsidiary.

The spokesperson said the layoffs mostly affected marketing employees. The New Jersey-based Net2Phone has about 745 employees remaining.

Last month, Net2Phone shut down the Aplio subsidiary, a move that cost the company $53 million in asset write-offs and $13.5 million of accruals for payments due under Aplio contracts.







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