Net consultancy no longer swimming in cash...
By Ian Jones
Published: 15 August 2001 08:11 GMT
Razorfish has suffered a slump in revenues, showing a 33 per cent drop in its last financial quarter, as the internet consultancy market gets considerably tougher.
The Silicon Alley firm showed a Q2 net loss of $3.7m, and also took a $70m charge for 600 redundancies made during the last three months.
The news wasn't all bad though, with the firm announcing the addition of ten new blue-chip clients to its order book.
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