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CHICAGO — Troubled high-tech consultancy MarchFirst Inc. said Monday it is laying off 1,700 people, about 30 percent of its staff, as it scrambles to sell assets and pay off heavy debts.
The announcement ended nearly a week of silence since widespread reports that layoffs were imminent caused its already-ailing stock to fall steeply and ultimately be suspended last Thursday on the Nasdaq Stock Market at 16 cents a share.
MarchFirst said it is trying to sell off more of its business units to raise cash.
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