TheStreet to cut 18 staffers

TheStreet Inc., an online financial news company, is cutting six percent of its workforce, according to a story posted on Yahoo's Tech site.
The report says that for a savings of about 2.4 million per year, 18 positions will be cut. Last year the company slashed 11 percent of it's workforce, froze salaries and eliminated 2008 bonuses.
From the story:

"This action, while difficult, allows us to continue to invest in new initiatives while remaining well positioned for future growth opportunities," chief financial officer Eric Ashman said.