Xpedior

(XPDR)

had yet to begin trading by midmorning after the company announced it will cut 300 employees, or 42% of its workers, and said it faces defaults on some lending agreements.

The Internet consulting firm, which closed Monday at 31 cents -- down from a 52-week high of $25.69 -- said it has enough cash to operate through June 30 but faces difficulty raising additional money. Xpedior said it will close four offices and its top managers have resigned.

Other beleagured Internet consulting companies rose.

Razorfish

(RAZF)

was up 10.5%.

iXL

(IIXL)

was ahead 8.8%.

Scient

(SCNT)

was up 4.8%.