VIANT SLASHES 116 JOBS

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NEW YORK (AdAge.com) -- In a filing Friday with the Securities and Exchange Commission, Boston-based i-shop Viant said it would layoff approximately one-third of its staff, reducing the overall head count from 316 employees to 200.

The staff reductions are meant to occur throughout the rest of the year.

The company also said that as of the end of September it had more than $140 million in cash and cash equivalents.

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