DoubleClick to Cut Jobs, Restructure

DoubleClick Inc., the leading online advertising network, said it will cut 10% of its work force and restructure its media business to combat a slowdown in the ad market. DoubleClick, the latest victim of the sharp slowdown in the online ad market, said it expects to end its second quarter with 1,850 employees. Most of the job cuts will occur in its media business. The company said it will create two networks to handle its U.S. media business, which has been suffering from falling revenue. One network will focus on branded sites and the other on audience reach and targeting. Shares of the New York-based company fell 50 cents to close at $10.44 on Nasdaq.