Z.com Laid Off Not Laughing
Created 10/16/2000 - 23:00
files/pictures/picture-35.jpgOn Monday, October 16, 2000, Z.com, an Internet comedy content site, laid off 50 workers -- half of its staff. However, the Webcaster has secured additional financing to keep it operating until at least next spring. The company's major backers include Internet incubator Idealab, Basic Entertainment, 3 Arts Entertainment, producer Jerry Bruckheimer and Maverick Records partner Guy Oseary. "It's a tough time," Z.com CEO Joe DiNunzio told THE DAILY VARIETY. "Today's a very challenging day to have to let some really talented people go, but it's in the best interest of the company. We remain focused to turn this into a viable business. It's hard to raise money when the capital markets aren't very supportive of our business." The site boasts content deals with stars including Chris Rock, Oliver Stone, Ellen DeGeneres, Mike Judge, Alanis Morissette, the Red Hot Chili Peppers, David Spade and animator Corky Quakenbush.