Key3Media Group to Cut 10% of Staff

Key3Media Group Inc., a producer of information-technology trade shows and conferences, plans to cut its work force by 10% in an effort to save $5 million a year and sees lower sales ahead.

The Los Angeles-based company also said Tuesday that it expects third-quarter revenue of $50 million to $55 million, down from $60.5 million a year earlier. Sales for 2001 will be $275 million to $285 million, down from $286 million last year.

The company postponed a conference call with analysts.