Work.com Will Cease Operations March 31

Posted on March 9, 2001

Work.com, an Internet-based business resource launched last year with investments from Dow Jones & Company, At Home Corporation dba Excite@Home, and its chairman and CEO Donald P. Hutchison, announced that it will cease operations March 31. Hutchison said that they had built an audience of over one million unique visitors on the website.

``The service provided by Work.com was first-rate, and well-received by users, and we are proud to have been associated with it,'' said Gordon Crovitz, senior vice-president, electronic publishing, of Dow Jones and a Work.com director. Mark C. Stevens, executive vice-president, corporate and business development, of Excite@Home and a Work.com director, added, ``The market for such a service has not developed as quickly as expected. The current decline in online advertising spending, the challenges of securing further funding, and an accelerated focus on profitability for the venture necessitated this decision.''

The majority of Work.com's 113 full-time employees in Redwood City, California, and New York City will be leaving the company next week. The others will remain for a variety of time periods to assist in the orderly wind-down of the company and its relationships with vendors and partners. The work.com site itself will cease operation on or about March 31. Established in April 2000, Work.com is headquartered in Redwood City, California with editorial offices in New York.