Internet Publisher Cuts Jobs, Predicts Upturn

Individual Investor Group Inc., a print and Internet financial news publisher, said that it fired 20% of its work force to cut costs and that its 2001 operating margins will be the best since 1996. Individual Investor said it dismissed 15 of its 75 employees and will pay about $50,000 in total severance. The New York-based company said it won’t take a charge because of the cuts. Individual Investor said operating results for its media properties will be the best since at least 1996 because of the cuts and the cash-saving plans implemented last year. The publisher of Individual Investor magazine and operator of the Insidertrader.com Web site said it’s still in talks with investment bank Jordan, Edmiston Group Inc. about alternatives for the company, including a sale.