Yankee Group cuts 13% of workforce

The Boston-based Yankee Group, an industry consultant covering e-business, wireless and the Internet, yesterday laid off 41 employees in what a company spokeswoman described as an across the board workforce reduction. "The company wasn’t growing as fast" as had been projected, said Yankee spokeswoman Kim Vranas, confirming that the layoffs were a cost-saving move. A source close to the Yankee Group claims the firm has decided to cease operations of its online retail strategies practice; however, Yankee’s Vranas denied this, saying the practice is continuing to operate. She adds that the layoffs reach across all of Yankee’s planning services and departments, including research analysts.