MarchFirst stock had taken yet another hit on Tuesday, on rumors the troubled firm would cut as many as 3,500 jobs and substantially restructure its business, perhaps by selling assets or filing for bankruptcy. Company officials have continually declined to comment on the layoffs and speculation over potential buyers.
Sources in Chicago said no cuts have taken place as of today, and the company, which was expected by some to make an announcement today concerning its future, had not issued any statement by press time. -- Kate MacArthur
Copyright March 2001, Crain Communications Inc.