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InterX is to axe more than 40 jobs as part of an urgent review of its operation, the e-business software company announced today.

Some 25 per cent of InterX's workforce has been cut delivering a decrease in the company's salary overhead of around 40 per cent.

The company - which has its headquarters in West London - employs more than 160 staff in the UK.

In a statement, Simon Barker, CE of InterX, said: "I fully appreciate that the last two weeks have been a time of great uncertainty, especially for all our staff and shareholders.

"We have acted promptly and decisively to protect our considerable cash reserves and to secure the Company's future.

"I can assure our shareholders that we are taking a similarly decisive approach to the strategic review," he said.

The results of the company's strategic review will be made public at the end of March.

Barker replaced Philip Crawford who resigned as a director and CE a fortnight ago.

The company called for a full strategic review amid a sliding share price and after warning that it was spending too much cash acquiring customers. ®

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