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Razorfish closes Finland office

The Internet consultancy, which has recently seen investor lawsuits, layoffs and a waning stock price, shuts down the office to cut costs.

Razorfish on Thursday said it has shuttered operations in Finland, yet another move by the troubled Internet consultancy to keep costs down.

The New York-based company, which has recently seen investor lawsuits, layoffs and a waning stock price, said its Finnish location was shut down effective Tuesday. The company did not disclose how many employees were affected.

"This is just part of our continued effort to manage our costs and regain profitability," said Melissa Kramer, a spokeswoman for the company.

Like many Internet consultancies, which specialize in helping clients with Web development and devising Internet strategies, Razorfish has had a tough time surviving the market tumult and the softening demand for technology services.

In early May, the company's founder and CEO, Jeff Dachis, stepped down, handing the top post over to Jean-Philippe Maheu, who is also a board member. Dachis remains co-chair of the board.

Razorfish, whose clients include Charles Schwab and Ford, said the Finland office is the only one it has had to shut down. The company maintains 15 offices in the United States and overseas, including in San Francisco, Los Angeles, Tokyo and London.