By Ron Coates, 9 February 2001 00:35
NEWS The move comes only days after the online finance site said it has raised $30m to strengthen its UK and US operations and to expand into Japan. Six out of 60 jobs will go in London while 109 of around 300 will go in the US. Phil Southgate, Motley Fool spokesman, said: "We're taking a dose of our own medicine. We've always advised prudence and cost control. As we're realigning the business, we're cutting costs we're adopting and old economy approach to profitability." The launch in Japan will go ahead, said Southgate. The Japanese operation is a joint venture with a Softbank subsidiary. Last month, the Fool closed down its year-old German operation because it failed to find a suitable partner. The Fool hopes to make up for slowing ad sales through partnerships with offline publishers of investment educational material.
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