Fresh layoffs at Microsoft-owned (MSFT) ad agency Razorfish, with 70 employees being let go (4% of the workforce) in Seattle, Portland, San Fran, and LA. That follows thousands of layoffs at Microsoft generally, and 40 positions cut from Razorfish in New York in November.
Razorfish came to Microsoft as part of the aQuantive deal, and it’s long been rumoured Microsoft was trying to sell off the ad agency. But in this market, the company probably wouldn’t fetch a good price. So for now: layoffs, and strategic acquisitions to extend Razorfish’s global reach like a November deal to acquire Spanish digital firm Wysiwyg.