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NEWS14 February 2013

Forrester to cut 30 jobs ahead of 2013 slowdown

Financials North America

US — Forrester Research has reported a 3% rise in annual revenue but announced a 2.5% cut in its global workforce in anticipation of another year of low growth.

2012 revenue was $292.9m. The company is forecasting 2013 revenue to be in the region of $290m–$298m.

CEO George Colony said a poor sales performance last year would “manifest itself in dampened revenue growth in 2013”.

“We are aggressively taking action to correct what we believe were specific, one-time issues,” Colony said. “A seasoned sales executive is instilling better process management and more discipline on the selling organisation, which should result in improved productivity as we move through the year.”

As for the 30-or-so planned job cuts, Colony said: “We are restructuring other parts of the company to streamline some support functions and get our costs more in line with projected revenue in 2013.”

Net income for 2012 was $26m, compared with $23m a year ago.