Thursday, December 4, 2008

Iterasi Slashes Staff

Portland, Oregon-based Iterasi, a developer of web bookmarking software, said Thursday that the firm has cut its staff. Number of employees affected by the cuts was not disclosed by the company, which said it made the moves because it became apparent that "the economy was not going to snap back in any meaningful way in the near term." Iterasi said the move would help the firm conserve cash. The startup said that it has enough cash to allow the firm to go without having to raise funds in 2009.