Vizzavi is to axe 100 jobs in Europe, the company confirmed today.
The Internet/cellphone portal business - a joint venture between Vodafone and Vivendi - has not said where the job cuts will be made yet.
However, since Vizzavi's European HQ is based in London it seems likely that the UK will bear the brunt of the cuts.
Evan Newmark, the CEO of Vizzavi since its creation in May 2000, said he will step down from the end of January. He will be succeeded by Guy Laurence who is currently the chief marketing officer at Vizzavi.
Vodafone and Vivendi also announced that they are to revise the business model for Vizzavi Europe to help it break even by the end of 2003.
Under the new arrangements, Vodafone will pass on to Vizzavi up to five per cent of the operator's access airtime revenues that are generated through the Vizzavi content portal.
Vizzavi will also earn 80 per cent of all revenues generated through payments for content such as ringtones, logos and games.
In September, Vizzavi denied reports that it was planning to make widespread job cuts and that parent Vivendi was getting cold feet. Vizzavi said it was recruiting staff. ®