Icon Medialab lays off 325 staff as losses widen
LONDON - Swedish internet consultancy Icon Medialab is axing 325 jobs and selling off assets, after revealing that its full-year losses had widened to SEK2.43bn (£170m) in 2000.
The company will sell its BrandLab assets in London, Stockholm and Berlin to FutureBrand, a subsidiary of the Interpublic Group of Companies. Interpublic is Icon Medialab’s largest shareholder.
In December, Icon Medialab said it was laying off 100 staff and, in January, chief executive Ulf Dahlsten resigned. The company expects the restructuring to reduce costs by 20% by the second quarter of 2001.
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