I say the algorithms will have to work a little harder in jest but it is true with any company almost anymore, if the people are not there then the automation comes in and the algorithms do more work. To quote Kevin Slavin in his TED video “the future looks pretty good if you’re an algorithm, not so hot if you are a human”. I’m a human and that bothers me a bit. It looks like some will get layoffs for Christmas. A decrease in advertising revenue has been one big chunk that has affected the company. In January we had the CEO resign and there’s the class action lawsuit over their financial status.
The business models need to be reworked as they don’t last forever and gee I think anymore if you development one that maintains being steady for 6 months you are doing something. Economists are even having a tough time, it’s the same numbers that the quants create so if there’s enough elements of fiction mixed in there with decreasing revenues…oh boy…you have a mess that nobody likes to dig in and get to the bottom of. When that happens out comes the questions of what could we have done differently and one helping item is to look at real numbers and not mess with the models with altering the risk factors. BD
NEW YORK (AP) -- Health website operator WebMD Health Corp. plans to cut about 14 percent of its workforce as part of a push to reduce costs.
The New York company said Tuesday the cuts amount to about 250 positions, and it expects to reduce annual operating expenses by about $45 million. Most of the job cuts will take place by the end of the year, while some of the other cost-cutting measures will extend into the first three months of 2013.
WebMD said it will record a pre-tax restructuring charge of between $6 million and $8 million in the fourth quarter, mainly for severance pay and other costs related to "streamlining" its operation.