A weak economy coupled with the Sept. 11 terrorist attacks has forced online portfolio provider, FOLIOfn to lay off 36% of its staff and significantly cut its executives salaries, said Michael Bell, the company’s chief administrative officer.

The cuts, which will pare the 140-member staff by 50, are intended to allow the company to turn a profit by the second half of next year, Bell said. The cuts were made across many departments and did not include one specific group, he said.

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