Archive
12.01.2001
Intershop Initiates Global Restructuring
San Francisco/Hamburg, January 12, 2001 . Intershop Communications AG (NASDAQ: ISHP; Neuer Markt: ISH), a leading provider of e-business software, today announced the first phase of a global reorganization, effective immediately, with the elimination of approximately 80 positions within its US-based organization. This number represents approximately 30 percent of the company`s U.S.- based workforce. Several global functions will be consolidated to streamline operations and enable the US organization to focus on expanding domestic sales, consulting and other revenue-generating activities. More details of the global reorganization will be disclosed on January 31, 2001, when Intershop will report its complete and final financial results for the fourth quarter and full fiscal year 2000.
"We are determined to create global efficiencies and accelerate return to profitability," said Stephan Schambach, CEO of Intershop. The U.S. market is an integral part of our global growth strategy, and this reorganization will enable us to better target enterprise sales, gain greater penetration in key markets and expand our network of strategic partners."
This press release may contain forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop`s limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, consumer trends, the level of competition, seasonality, the timing and success of international expansion efforts, risks related to electronic security, possible governmental regulation, and the ability to manage a rapidly growing business. Additional information regarding factors that potentially could affect Intershop`s business, financial condition and operating results is included in Intershop's filings with the Securities and Exchange Commission, including in the prospectus dated September 28, 2000, relating to Intershop`s public offering of common stock.
Investor Relations:
Annett Körbs
T: +49-3641-50-1370
F: +49-3641-50-1309
ir@intershop.de
Public Relations:
Dr. Ute Danz
T: +49-3641-50-1000
F: +49-3641-50-1002
pr@intershop.de
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