A1plus: "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 [Unzipped: other sources put the number at around 700 people], the best specialists of the sphere. Presently, the company neither confirms nor denies the information. Details will be given later in the day."
Here are some relevant world news headlines:
Lycos Europe admits defeat in search for investor
Lycos Europe Cries “Uncle!”
Lycos Europe to close portal, end Web hosting