The company will sell its BrandLab assets in London, Stockholm and Berlin to FutureBrand, a subsidiary of the Interpublic Group of Companies. Interpublic is Icon Medialab’s largest shareholder.
In December, Icon Medialab said it was laying off 100 staff and, in January, chief executive Ulf Dahlsten resigned. The company expects the restructuring to reduce costs by 20% by the second quarter of 2001.
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This article was first published on brandrepublic.com