Yam.com (
Of the 13 employees shown the door, 10 were laid off and three were given the option to resign from positions in departments deemed no longer vital to the company's operations, said Wu Kuo-wei (吳國維), senior vice president of the company. The downsizing eliminated staff positions in business development, as well as search engine data base builders and content editors, Wu said, adding that the total number of staff would drop to 207 after the layoffs.
Wu said that a change in market conditions making it harder to turn a profit had also played a hand in the company's decision to layoff workers. Web companies generate most of their revenue from advertising, which has tapered off with the slowing economy.
"There have been dramatic changes in the Internet sector recently," Wu said. "Not just at Yam but all Taiwan Net companies have to face that reality," he added.
That reality has dawned bright and clear for hundreds of dotcom start-ups around the globe this year as the so-called Internet bubble burst and stocks in Web firms fell in the wake of disastrously poor profit performances. This latest readjustment comes a week after a joint Internet news site venture between Yam.com and English-language daily Taiwan News folded due to inefficient management and tough market competition.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
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