Drkoop.com Cuts More Jobs

Drkoop.com Inc. has slashed its work force for the second time in three months, saying the layoffs are part of a new corporate restructuring plan aimed at cutting costs. Late Tuesday, the Austin, Texas-based company announced it was cutting 50 positions, about one-third of its current work force. The move came on the heels of an announcement Monday that Drkoop.com had secured $27.5 million in new financing and revamped its management team. The company, co-founded by former U.S. Surgeon General C. Everett Koop, has been struggling to stay in business since going public in 1997. In April, officials announced the company had only enough cash to survive until August. The announcement came after the company disclosed in March that its auditors had cast doubt on its ability to remain in business. In May, Drkoop.com laid off 30 employees. Its annual report cited 185 full-time employees as of Feb. 29. DrKoop shares closed up 16 cents to close at $1.34 on Nasdaq.