Viant to Close Dallas Office, Cut 125 Jobs

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Viant

(VIAN)

will close its Dallas office and eliminate 125 employees company-wide, 99 of which are billable consultants.

The Internet consulting company, based in Boston, expects to take a charge of $5 million to $7 million in the fourth quarter, which will consist primarily of severance and related expenses from the employee reduction and the closure of the Dallas office. The company expects to save about $18 million in 2001 and said it will have about $185 million in cash on Dec. 31.

The company has about 405 employees.

Shares of Viant were recently down 28 cents, or 6.6%, to $3.97 in

Nasdaq

trading. The 52-week high is $63.56.