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NEWS8 July 2011

Harris agrees plan to reduce office space in US and UK

Financials North America

US— Harris Interactive is cutting back on the size of its leased premises in Connecticut, Oregon and the UK as interim CEO Al Angrisani gets to work on “right-sizing” the beleaguered business.

The firm is looking to save money by sub-leasing out space to other companies in each of the three offices, but lease exit costs will cost it around $1.9m.

Harris cut 15 jobs in the UK late last year after the loss of a multi-million dollar tracking study it ran on behalf of Nokia, while former CEO Kimberly Till had previously made a series of headcount reductions in the US to try to return the business to profit.

With her strategy proving unsuccessful, the company brought in Angrisani as her replacement in June to try and turn the business around. Chief financial officer Pavan Bhalla and chief information officer Enzo Micali have followed Till out the door.

Though Angrisani has yet to speak publicly and in detail about his strategy for Harris, his turnaround model – as outlined on his website – puts “right-sizing”, or matching costs to revenue, as the first step in the process.

@RESEARCH LIVE

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