London's Evening Standard reports that Web currency outfit beenz.com is planning to take the axe to its global network and hunt for a strategic partner.
The company has told its 260 staff by e-mail that some of its 10 overseas operations will close while it concentrates on assets with "proven value", reports the Standard. It will also look for a partner "capable of delivering value to the business", says the newspaper.
Chief executive Charles Cohen says a final decision on closures will be taken early in 2001, reports the Standard.
Beenz.com raised $50 million in second-round funding in June and Cohen says the group still has the bulk of that cash in the bank.