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Norwalk Internet Services Firm Closes Tokyo Office

NORWALK, CT-Modem Media Inc., an Internet services firm headquartered here, announces that as part of an expense reduction program, the company will close its Tokyo office.

By John Jordan | Updated on March 06, 2001

NORWALK, CT-The Tokyo office of Modem Media Inc. will close as part of the Internet services company’s expense reduction program. The office closing is scheduled to take place sometime in the second quarter of this year, company officials stated. The company recently reported the office closing at the FIK Minami Aoyama building as well as several actions geared to reducing corporate expenses, including a cut in its overall workforce by 10%.

“Over the last few weeks we completed a comprehensive review of the operating structure of the company,” states Marc Particelli, chief executive officer of Modem Media, “and it is clear that these incremental actions will only further strengthen our business. While performance in our Tokyo office had been improving recently, that improvement and the prospects for the business were insufficient to keep the office open.

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