Creative Retrenchment.The business-to-business  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. sector has not been as fruitful fruit·ful adj. 1. a. Producing fruit. b. Conducive to productivity; causing to bear in abundance: fruitful soil. 2. for Creative Planet Inc. It was only last December December: see month. that the L.A.-based supplier of technology resources to the entertainment industry scored $30 million from U.K. based United Business Media PLC. Now, in what appears to be an act of desperation, the company said it is attempting to raise a fifth round of $6 million from previous investors. In four rounds of financing, Creative Planet has raised more than $100 million, not enough to keep its workforce intact. The company pink-slipped Adj. 1. pink-slipped - having lost your job discharged, dismissed, fired, laid-off unemployed - not engaged in a gainful occupation; "unemployed workers marched on the capital" about 25 percent of its 106 workers a few weeks ago. It was the third round of layoffs since December. It has also put up 40,000 square feet of its 87,000 square feet of office space for sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. . Many of the recent changes coincide with the company's hiring in January of Kelyn Brannon as chief financial officer. She has since been appointed president. Company representatives did not return calls last week. |
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