Rocket Fuel Announces Cost-cutting Program, Includes Jobs

Media-buying platform provider Rocket Fuel said Wednesday it's planning a cost-cutting program including job cuts that aims to reduce annual costs by $30 million. The company said it expects the cuts to help it achieve its goal of positive adjusted EBITDA for 2015. The company said it now expects first-quarter revenue of $104.3 million, up about 40% from the prior-year period. The company is expecting to post a loss for the quarter of about $36.9 million. Shares climbed 4.5% in after-hours trade, but have tumbled 44% in the year so far, while the S&P 500 has gained about 2%.

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