Kozmo.com Delays IPO, Lays Off 5% of Staff

Kozmo.com Inc. delayed plans to raise as much as $150 million in an initial stock sale and said it has fired 24 people, or 5% of its salaried staff. The 3-year-old company, which delivers videos, food and other items ordered over the Internet, said workers were let go last week at its New York headquarters as part of a program to cut costs and increase efficiency. The company also employs 2,220 hourly workers. “Our [IPO] registration is still on file and we are actively working to become a public company,” said Michael Gordon, Kozmo.com spokesman. He declined to comment further. Kozmo.com filed in March to sell shares.