CityGrid Media, the local search pioneer and parent company of Urbanspoon, Insider Pages and Citysearch, has cut two-thirds of its staff as it continues to undergo changes in a bid to reach profitability.
“The layoffs will increase operating efficiency, reduce costs and have a meaningful impact on the company’s future profitability,” a spokesperson tells GeekWire. About 130 people are losing their jobs.
No layoffs occurred at Urbanspoon, the Seattle online restaurant directory that was acquired by CityGrid parent IAC in April 2009. As of last fall, Urbanspoon employed 100 people. The cutbacks follow a 15 percent layoff at CityGrid last October.
They also come after CityGrid’s CEO Jason Finger stepped down after 14 months, a departure that we reported on in March. Meanwhile, interim CEO Ron LaPierre is on leave due to an “urgent family matter,” the spokeswoman says.
As a result, Andrew Moers, president of IAC’s Ask.com Partner Network, is filling in on an interim basis.