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NEW YORK Digitas said its net income fell in the third quarter due to severance costs from cutting 50 employees during the period.
The Boston-based agency reported net income of $6.2 million, or 7 cents per share, down from $8 million in the year-ago period. Digitas took a onetime restructuring charge of $2.1 million from laying off 50 staffers from its agencies, which include Modem Media and MBC.
The staff cuts are part of a plan by Digitas management to improve its performance following a poor second quarter, when it lost business from Ameriprise, Best Buy and FedEx.
“We
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