New Mexico’s largest digital marketing agency says it will cut more than 80 jobs at the end of the year
Digital marketing is the fastest growing segment in the country’s economy and has emerged as a key way to attract businesses to the state.
The New Mexico Economic Development Authority (NMEDA) announced Thursday that it will be cutting its workforce by 80 percent by the end 2018.
The agency says the cuts are due to the growth of digital marketing in the state, and the challenges it faces in its efforts to grow the economy and attract new businesses.
“Digital marketing has proven to be an important driver of our economy and we want to ensure it continues to be so for as long as possible,” said NMEDA President John Echols in a statement.
“We are going to make our workforce better, better-trained, and better-equipped by eliminating most positions and increasing the salaries and benefits of those who work here at NMEDAs headquarters.”
The cuts are expected to take effect as early as March 2019.