Interactive agency THINK New Ideas cut up to 25% of its New York office staff, according to a report from the Silicon Alley Reporter, which quoted sources as saying 15 of THINK’s 60-person New York workforce were laid off.
THINK New Ideas executive vice president and managing director in New York, Jon Adams, confirmed the layoffs, but said: “It is really not 15. Ten people left this week. A couple resigned and a couple were terminated.” He says the New York staff totals 60 to 65, not including the corporate staff.
Adams was quoted as saying that the people who left were primarily in “traffic and production,” and that the reductions are part of an ongoing restructuring. He said that with recent hires the total number of staffers has remained constant, and that he is seeking to fill several positions.
Meanwhile, the Reporter said that Internet advertising software firm Solbright laid off nine of its 26 employees. Solbright founder and CEO Key Compton was quoted as saying that this is “simply part of being a dynamic, quickly-growing company.”
Solbright’s new investors, who supplied the company with a seven-figure cash infusion in July, recommended that Compton examine the “extraneous and tangential” aspects of the business. The result was reorganization of the staff, Compton said. Compton would not disclose the identity of Solbright’s investors.
Compton emphasized that the company is financially healthy and the market for their products is still strong. “We’ve tripled in size in the last four months,” he said. “Business is extremely strong. The market’s needs are much stronger than we originally thought.” He also mentioned that the company has hired “a few” new employees.
Hearst and Quote.com, among other publishers, have been using the beta version of Solbright’s AdSuite package.
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