Houston Herstek reduces staff after account losses

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Houston Herstek Favat, Boston, laid off approximately 40 employees last week after losing an estimated $100 million in accounts during May. Clients who reassigned their business included Fidelity Investments, which moved its estimated $50 million to $70 million account to Hill, Holliday, Connors, Cosmopulos; Massachussetts Tourism Office, whose $4 million to $10 million account is now at Holland Mark Martin; and NEC Technologies, whose approximately $50 million media buying account moved to Hampel Stefanides, San Francisco.

Copyright June 1997, Crain Communications Inc.

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