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CNET (GameSpot's parent) cutting 120 jobs

Online media company CNET Networks Inc said on Wednesday it will eliminate 120 jobs, or about 10 percent of its staff, in a restructuring to help it focus on long-term growth amid complaints from some investors.

CNET expected pre-tax restructuring charges from the job cuts to run between $3.5 million and $4 million, most of which will be taken in the first quarter of 2008.

The job cuts are effective immediately.

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