LVL Trims Staff as It Talks: Acquisition by Think New Ideas

LVL Communications has trimmed its payroll and is restructuring its debt as it negotiates to be acquired by Think New Ideas. The Palo Alto, Calif., agency has eliminated its production department by laying off all four employees.
“We opted to make our production department virtual,” said Cal Lai, agency chairman. “We will call on freelancers and temporary staffers as we need them.”
About four staffers from other departments have also been laid off or resigned, sources said.