LYCOS ARMENIA CLOSING DOWN

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A leading IT Company Lycos-Armenia is closing down. The administration has informed the staff about the company's closure at a special meeting minutes ago.

Employees were notified of the menace of closure weeks ago.

Lycos-Armenia is a development and operations center for the business units of Lycos Europe. The company employs some 1000 people, the best specialists of the sphere. Presently, the company neither confirms nor denies the information.

Details will be given later in the day.