NBCi to Lay Off 20% of Employees

NBC Internet Inc. said it will lay off 170 employees, or about 20% of its work force, in a move to cut costs. NBC Internet, an online portal that is 47%-owned by General Electric Co.’s NBC television network, said it does not expect the cuts to affect its operations and remains confident that it can become profitable in 2002. The company has had a series of operating difficulties recently, including an erosion of its advertising base, which led to lower-than-expected second-quarter results. In June, the company announced plans to restructure its business to consolidate its multiple brands. A company spokesman said the layoffs grew in part out of that restructuring process. They are the first layoffs NBC Internet has had to date.