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Scient to ax 52% of work force

Published on .

San Francisco--E-business consultancy Scient Corp. announced it will fire 675 employees, or 52% of its work force. The company said it may also ax an additional 175 workers over the next several months. The cuts come as Scient announced a wider-than-expected loss of $32 million for the quarter ended March 31. In other news, the company will move its headquarters from San Francisco to New York, and shutter its Los Angeles office. Scient's stock shares are trading in the $1 range, off a 52-week high of $72.75.
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