TheStreet.com Announces Cost-Reduction Measures

Apr 04, 2001, 01:00 ET from TheStreet.com, Inc.

    NEW YORK, April 4 /PRNewswire/ -- TheStreet.com, Inc. (Nasdaq: TSCM), a
 leading multimedia provider of financial commentary, analysis and news, today
 announced that because of continued economic uncertainties and difficult
 market conditions, the Company plans to take steps to reduce operating
 expenses.  The Company will reduce its workforce across the board by 20%.
 Other expense reductions include subleasing a portion of its principal office
 space and cutting discretionary spending in areas such as contract services,
 marketing and travel.  These measures are expected to save the
 Company over $15 million on an annualized basis.
     "We have made these difficult but deliberate business decisions as a
 necessary response to fundamental changes in the economic environment," said
 Thomas J. Clarke, Chief Executive Officer of TheStreet.com.  "This rightsizing
 brings our cost structure to a level that enables us to more effectively
 monetize our proprietary content.  With a healthy cash position of
 approximately $60 million and zero debt, we're well-positioned to maintain our
 drive towards long-term financial success."
 
     About TheStreet.com, Inc.
     TheStreet.com, Inc. (Nasdaq: TSCM) is a leading multimedia provider of
 original, timely, insightful and trustworthy financial commentary, analysis
 and news.  TheStreet.com brand is built on our best-in-class editorial team of
 experienced financial commentators and journalists.  On the Internet, our
 free, advertising-supported web site, TheStreet.com, is accompanied by our
 subscription-based site, RealMoney.com.  In addition, our content is also
 available across diverse product offerings, including print media, radio,
 books and conferences, and our strategic relationships with leading media,
 technology and financial services companies further assist us in leveraging
 our content and products.
 
 

SOURCE TheStreet.com, Inc.
    NEW YORK, April 4 /PRNewswire/ -- TheStreet.com, Inc. (Nasdaq: TSCM), a
 leading multimedia provider of financial commentary, analysis and news, today
 announced that because of continued economic uncertainties and difficult
 market conditions, the Company plans to take steps to reduce operating
 expenses.  The Company will reduce its workforce across the board by 20%.
 Other expense reductions include subleasing a portion of its principal office
 space and cutting discretionary spending in areas such as contract services,
 marketing and travel.  These measures are expected to save the
 Company over $15 million on an annualized basis.
     "We have made these difficult but deliberate business decisions as a
 necessary response to fundamental changes in the economic environment," said
 Thomas J. Clarke, Chief Executive Officer of TheStreet.com.  "This rightsizing
 brings our cost structure to a level that enables us to more effectively
 monetize our proprietary content.  With a healthy cash position of
 approximately $60 million and zero debt, we're well-positioned to maintain our
 drive towards long-term financial success."
 
     About TheStreet.com, Inc.
     TheStreet.com, Inc. (Nasdaq: TSCM) is a leading multimedia provider of
 original, timely, insightful and trustworthy financial commentary, analysis
 and news.  TheStreet.com brand is built on our best-in-class editorial team of
 experienced financial commentators and journalists.  On the Internet, our
 free, advertising-supported web site, TheStreet.com, is accompanied by our
 subscription-based site, RealMoney.com.  In addition, our content is also
 available across diverse product offerings, including print media, radio,
 books and conferences, and our strategic relationships with leading media,
 technology and financial services companies further assist us in leveraging
 our content and products.
 
 SOURCE  TheStreet.com, Inc.