Stamps.com Announces Cutbacks

Stamps.com said it will slash 150 jobs to streamline operations and achieve profitability. The job cuts will take place across all its locations, including Bellevue, Wash., and its Santa Monica headquarters, the company said. Chief Executive Bruce Coleman said the company will continue to focus on building its core Internet postage business. The company’s flagship product, iMail, lets users purchase stamps online from its Postage Server and print stamps directly onto envelopes and labels.