EMERYVILLE— Internet company Ask Jeeves Inc. on Tuesday said it will cut 25 percent of its workforce and take a fourth quarter charge of $10 million to $12 million for a restructuring that follows a recent earnings warning.
Last week, Ask Jeeves said it expected a fourth quarter pro forma loss of $18 million, or 50 cents a share. Analysts had expected it to report a loss of 33 cents a share, according to investment research firm First Call/Thomson Financial.
On Tuesday, the company said its staff cut, which amounts to about 180 full-time positions,will reduce costs by about $45 million in 2001.
It said it expects to achieve profitability in the fourth quarter of 2001.