MODEM MEDIA CUTS 40 JOBS

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(May 18, 2001) -- Modem Media, the Norwalk, Conn.-based i-shop, laid off approximately 40 people, or 4.8% of its workforce, a company spokeswoman said.

The company has been paring staff throughout the industry downturn, though not at the same rate as many of its competitors.

True North Communications, which has agreed to be bought by Interpublic Group of Cos., owns a minority stake in the company. -- Catharine P. Taylor

Copyright May 2001, Crain Communications Inc.

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