Framfab trims the fat

New slimline model hopes for profits in lean times...

New slimline model hopes for profits in lean times...

Swedish internet consultancy Framfab is getting its hands dirty with a streamlining action plan and getting rid of subsidiaries that fall outside of its core internet services business. As well as selling its advertising company, its Norwegian division and its software development company, it has also sold S17 to ECsoft Sweden. It is reported that ECSoft will pay £100,000 for the division and will also take on the 63 employees. The acquisition will bolster ECsoft's back office systems and give it access to S17's customer base. By October of this year, Framfab will be down to just 900 employees; a drop of 2,100 people on the previous year. The company's CEO, Johan Wall, expects that this "forceful action" will restore the company's profitability.