Business
Organic to slash 300 jobs
Internet consulting company Organic said Thursday it is cutting about 300 jobs and that its shares face delisting from the Nasdaq. The San Francisco-based company said it is laying off 35 percent of its work force, leaving the company with about 525 employees by the end of its second quarter.
Internet consulting company Organic said Thursday it is cutting about 300 jobs and that its shares face delisting from the Nasdaq.
The San Francisco-based company said it is laying off 35 percent of its work force, leaving the company with about 525 employees by the end of its second quarter. Organic said Thursday the layoffs are part of a restructuring of its business operations to adapt to market conditions.
Because of the layoffs, Organic said Thursday it expects to record a restructuring charge of approximately $17 million to $20 million in the first quarter to cover severance and other costs. The layoffs announced Thursday are not the first for the company. In December, Organic eliminated 270 jobs. --Gwendolyn Mariano, Special to ZDNet News