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Internet Consulting Firm's Five Area Offices in Jeopardy as More Cutbacks Occur

SAN FRANCISCO-Cost-cutting measures implemented this week by Chicago-based marchFIRST Inc. call for reducing corporate expenses to roughly 10% of sales, reducing its workforce, and consolidating office locations.

By Becky Bergman | Updated on January 24, 2001

SAN FRANCISCO-A week after marchFIRST Inc. officials announced they had terminated their Mission Bay lease agreement with Catellus Development Corp., the Internet consulting firm says it now will slash corporate expenses to roughly 10% of sales and consolidate some of its offices around the country.

Chicago-based marchFIRST currently leases 750,000 sf of space in San Francisco in five different buildings: 300 Montgomery St., 410 Townsend St., Two Harrison St., 651 Brannan St. and 255 California. Mike McCarthy, a broker at San Francisco’s Colliers International, tells GlobeSt that marchFIRST is looking to sublease 170,000 sf at 875 Howard St., but declined to speak about the other locations. Company officials with marchFIRST did not return phone calls today for more detail. Last week, they declined to discuss the fate of their various locations.

As part of its 2001 business plan, announced along with the cutting of expenses, marchFIRST says it will lay off an additional 550 people and “dramatically” cut discretionary spending until it reaches positive operating cash flow. The company employs 750 workers in the San Francisco offices. At the beginning of this year, the company laid off an undisclosed number of workers and in November, 1,000 employees lost their job.

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