Viant Loses 5.9% on Layoffs
Viant
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was down 5.9% in midmorning after hitting a 52-week low of $3.69. The Internet consulting firm said it would cut 125 employees and close its Dallas office to save $18 million in 2001. The cuts will result in a fourth-quarter restructuring charge of $5 to $7 million.
The move comes a day after rival
Scient
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cut 460 jobs. Scient was down 43.1% after hitting a year low of $2.28.
Diamond Technology Partners
(DTPI)
, down Wednesday after
Lehman Brothers
lowered estimates, hit a 52-week low today of $21.47 and was down 13.9%.