Rambler lay-offs
November 7, 2008
Russia's biggest web portals with three million daily users, is to lay off half its staff according to reports from Russia. The cuts are to come from non-core brands such as Rambler Telecom, Rambler-Foto and Rambler Vision and could affect as many as 255 staff. This is fallout from the Russian FAS anti-trust authority's decision to block Google's bid for contextual advertising firm Begun, in which Rambler has a 50.1 percent stake. Rambler would have received $70.1 million in cash if the deal went through.