Financial Triage At Whittle
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Nothing better symbolizes the ambitions of media entrepreneur Christopher Whittle than the sprawling Georgian-style headquarters he built for Whittle Communications LP in Knoxville, Tenn., three years ago. Nowadays, the $55 million edifice also symbolizes Whittle's woes.
Successive rounds of layoffs at the media and marketing company have left the building half empty, according to current and former employees. Since 1992, Whittle Communications has reduced its workforce from 1,100 to 700. Whittle's office is among the empty ones: The charismatic founder is on the road most of the time--searching for investors to keep his businesses afloat.