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BtoB

Organic to cut 35% of work force

Published on .

San Francisco--Organic Inc. said it will cut its global work force by 35%, eliminating about 300 jobs. The Internet professional services company cited market conditions for the layoffs and said it expected to save $50 million a year by cutting the jobs. Also on Thursday, Organic said Nasdaq was reviewing its eligibility for continued listing on the stock exchange, because its stock has been trading below the $1 minimum requirement since February. In December, Organic said it was laying off 270 employees. In a separate announcement Thursday, Organic said it was in discussions with global agency BBDO about forming a strategic alliance.
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