Company cuts costs to remain competitive
IWin.com declared game over for several staffers last week, including prexy Dale Hopkins, as the online gaming Web site is reorganizing to cut costs and remain competitive online.
The departures of an undisclosed number of employees came at the end of a turbulent week for dot-coms, which saw a combined 200 staffers laid off from iWin, Digital Entertainment Network and Load Media Networks.
Site founder and CEO Fred Krueger will take over Hopkins’ daily responsibilities.
IWin has streamlined operations and restructured its management team so that the company can reach profitability earlier than previously planned, said iWin spokesman Todd Beck. Move follows the company’s launch only six months ago.
Industryites say it’s smarter to do the downsizing now rather than later, at a time when the company could be in major financial trouble.
Santa Monica-based iWin recently raised $25 million in second-round financing. Company’s decision to cut costs follows lavish launch parties at the W Hotel in Westwood and a private Spring Internet World bash at the House of Blues featuring the Goo Goo Dolls.
Hopkins was a former marketing and sales vet at E! Entertainment Television and helped create and launch E! Online.
Julie Fields, senior veep of creative, also recently ankled her post, a move unrelated to the recent firings. She oversaw the site’s content, advertising, brand identity and overall creative direction.