AUSTIN, TX: Springbok Cohn & Wolfe is closing its Austin office and
plans to manage all of its Texas accounts from Dallas.
"The decision to consolidate our business in Texas in the Dallas market
was a result of the economic downturn," said C&W CEO Stephen Aeillo. The
Austin office was turning a profit, but its closure will help the firm
bring costs in line with revenues, he added.
When C&W acquired Dallas-based Springbok in April, the firm already had
cut staff by 25% to 30% this year, leaving only 13 employees in
Sources in the state capital said fewer than 10 remained when C&W
decided to close the office. Severance packages of undisclosed terms
were offered to those who lost their jobs, and some positions will be
moved to Dallas, confirmed Springbok's HR director Paige Klatt. A few
employees remain in Austin during the transition, Aeillo said.
"One hundred percent of our clients have stated that they will move with
us in the consolidation," he added.