The cuts were across all departments from entry level to officers in Chicago and California operations.
"This deeply bothers me because we're letting go really good people," Mr. Rose said.
While he wouldn't provide any details on which clients have pared budgets or how those fee cuts have eaten into the agency's budget, Mr. Rose said the job cuts were "easily proportional to [clients'] reductions in revenue and in earnings."
This is the second layoff at the agency this year. In February, Frankel trimmed 45 jobs. -- Kate MacArthur
Copyright May 2001, Crain Communications Inc.