Skip to main content

Razorfish

undefined

axed 400 jobs around the world as part of an attempt to save about $70 million in 2001.

The digital design and consulting company said eliminating about 20% of its workforce would increase profitability and shareholder value.

To cut costs in other ways, the New York-based Razorfish will restrict expense policies in some areas, streamline some regional departments and expand its use of partnerships and alliances.

Scroll to Continue

TheStreet Recommends

In regular trading on the

Nasdaq

, Razorfish closed at $1.81, down 16 cents for the day. In after-hours activity on

Island

, the stock climbed to $2.05.