(AP) InfiNet, which manages information technology services for newspapers, has cut more than a quarter of its staff to prepare for what could be a tough year.
The company this week combined its development and marketing divisions and laid off 20 workers, bringing total employment to 55 people from 75 workers.
“We took a hard look at what the 2002 revenue picture would look like, and we adjusted,” said Steve Fuschetti, president and chief executive of InfiNet, which is partly owned by Norfolk-based Landmark Communications Inc. “We did not count on a robust new business environment.”
The company’s other owners are Gannett Co. Inc. and Knight Ridder.
Fuschetti said InfiNet already has lost a few customers to the poor economy as newspapers shaved expenses. He expects sales to drop by 25% this year as many of the 200 newspapers the company serves continue to tighten their budgets.