Advertisement
YOU ARE HERE: LAT HomeCollections

The Cutting Edge | TECHNOLOGY BRIEFS

Razorfish to Trim Staff in Bid to Stay Profitable

October 19, 2000|Associated Press

Razorfish Inc., a New York-based Web site designer, plans to fire as many as 200 employees, or 10% of its staff, less than two weeks after it warned that third-quarter results won't meet forecasts. Company spokesman Toby Usnik said the move is part of an effort to remain profitable. In addition to designing Web sites, Razorfish also advises businesses on strategy for the Internet. Its shares fell 43% on Oct. 6 after it warned that third-quarter earnings would decline from the previous quarter because of an unexpected slowdown in its European businesses. At the time, Razorfish said it planned to make "necessary changes" to improve profitability. Usnik declined to say how much money the company will save by making the job cuts. He said the firings will be split among employees in North America and Europe. Razorfish shares fell 13 cents to close at $4.62 on Nasdaq.

Advertisement
Los Angeles Times Articles
|
|
|