AGENCY.COM SLASHES 90 JOBS

Cuts Hit East Coast Offices

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CHICAGO (AdAge.com) -- Agency.com laid off 20% of its U.S. staff, or about 90 staffers today, a spokeswoman for the I-shop said.

The spokeswoman said the cuts would be concentrated in Agency.com's East Coast offices, including New York, Boston and Woodbridge, N.J.

It was unclear whether any U.S. offices would close or if Agency.com would lay off any employees in its European offices. The spokeswoman said none of the European offices, located in Amsterdam, London and Paris, face closings.

The layoffs come as

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part of a restructuring started last year and that continued today with the promotion of Don Scales, formerly president of the Western Region, to the new post of CEO Agency.com North America. In addition, Eben Lenderking, president of Agency.com Europe, was named to the new post of CEO Agency.com Europe. Messrs. Scales and Lenderking will continue to report to Chan Suh, CEO and chairman of Agency.com.

As another part of the move, the company's Red Sky and I-traffic operations will be integrated into the Agency.com.

Seneca Investments acquired Agency.com last year and took it private. The shop is headquartered in New York.

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