By: David Gianatasio San Francisco Office Loses 29 Positions
(Mediaweek) Circle.com, an interactive
agency owned by France's Havas Advertising, said it has eliminated 29 positions
in its San Francisco office.
Circle continues to employ slightly fewer than 500 associates worldwide. "We
felt this restructuring in San Francisco further strengthens our network by
allowing us to focus on what that office does best - e-marketing services
and solutions," said Circle chief executive Charlie Tarzian in a prepared
statement. The move came shortly after Circle made public its fourth-quarter and
year-end 2000 financial figures.
The company reported net revenue for the fourth quarter and full year of $15.7
million and $67.3 million, respectively, compared with $13.2 million and $35.7
million for corresponding 1999 periods. Circle lost $6.8 million and $15.7
million for the fourth quarter and full year, respectively, compared with losses
of $8.5 million and $12.4 million for 1999. Losses in 2000 included a non-cash
charge of nearly $26 million related to the closing of Circle's Denver office.
In February, Havas announced a plan to exchange Circle's tracking stock for
Havas shares and aligned the agency with its New York-based Euro RSCG Worldwide
network.
Copyright 2001, Editor & Publisher.
Comments
No comments on this item Please log in to comment by clicking here