In an effort to please shareholders and spur longterm growth, CNET will be cutting 120 jobs, or 10% of its staff. (I didn't realize that their staff was that big to begin with)

Business Unit Realignment: with the introduction of an open API, “CNET will move its services, catalog, content management system onto one platform, making content development, syndication and content import easier and more open.” CNET has realigned its investments in TechRepublic and ZDNET “to improve monetization,” although exactly how and in what form was not specified. TV.com will be abandoning its emphasis on video for more (we presume low cost) content such as “entertainment features, breaking news, trivia competition, and polls.”

International: CNET is considering raising local capital to expand in China, but the rest of the international business operations appear to be subject to a review with an announcement in weeks, by that we presume that CNET may be closing some international sites.

Restructure costs: $3.5 million and $4 million to be accounted for in Q1, 2008.

More when we have it. Staff being terminated were to be informed at 2pm PST.

Source: techcrunch.com

CNET Lays Off 10% of Their U.S. Workforce…including me.

Source: robert.balousek.net