Web integrator XT3 has become the latest development firm to cut back its operations, slashing a third of its staff to focus on its bottom line.
The company has made 29 full-time staff redundant and waved nine contractors goodbye, but marketing director and co-founder John Shuttleworth said the changes are across the board and will not affect the structure of XT3's operations.
"Our costs got out of control in comparison to our revenue line," he said. "We grew aggressively in the back half of last year and had too many people relative to the work we were doing. We are basically looking after our bottom line."
XT3 is a professional consulting firm which designs and builds Internet, extranet and intranet solutions, as well as conducting research and marketing services on behalf of its clients. Shuttleworth said with the recurring work the company receives from corporations such as David Jones, there is "still a lot of work in the pipeline".