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Organic cuts 25% of staff; Nelson steps down as CEO

Published on .

Organic, joining the flock of troubled i-services ventures cutting jobs and lowering forecasts, late Dec. 13 said it cut 270 jobs, or about 25% of its staff. Co-founder and Chairman Jonathan Nelson is stepping down as CEO. The Internet professional services company also announced a restructuring and lowered revenue and earnings expectations for the fourth quarter and 2001. San Francisco-based Organic said Mark Kingdon will succeed Mr. Nelson as CEO effective Jan. 15. Mr. Kingdon, a former PricewaterhouseCoopers management consultant, was most recently with Idealab, an ailing Internet incubator. He will run day-to-day operations. Mr. Nelson, who as of June owned 59.3% of Organic, will focus on strategy.

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