Net consulting firm restructures, cuts staff
E-business consulting firm Luminant announces it's cutting its staff by 18 percent as part of a companywide restructuring.
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"What we've done is take a step back and say, 'What are the characteristics of a business that is going to be successful in the Internet professional services marketplace?'" said Richard Scruggs, Luminant's executive vice president. These changes "are going to mean a company that is steadily growing, more profitable and very focused."
The layoffs are only the latest in a slew of job cuts in the Internet industry. This week, Evite.com, Respond.com, eBay-owned Butterfields, Amazon.com-backed Pets.com, and Furniture.com also laid off staff.
The layoffs are the second job cuts at Luminant in two months. Last month, the e-services firm announced a 7 percent staff cut as part of an effort to reduce expenses and move toward profitability.