LYCOS Europe is a pan-European network of websites, offering services including communication tools, online communities, web search, e-commerce, web hosting, homepage building and Internet access. It is an independent corporation, sharing no corporate structure with Lycos, Inc. (USA), but with historic origins in it. Lycos Europe is shutting down after being unable to return to the path of profitability and/or find a buyer.As a result, Lycos Europe will give back €50 million to its shareholders, but about 500 of 700 staff will reportedly lose their jobs. The US-based Lycos Inc. is a different company and is not directly affected by the demise of Lycos Europe .
The deathly pangs of recession !!!
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