Motley Fool axes 75

NEWS Independent investment website The Motley Fool has announced 75 redundancies out of a global staff of 175. In a statement on the company's website the founders blamed the extremely soft US advertising market, citing the words of a Wall Street analyst who called it a "100-year firestorm". The Motley Fool employs 30 people at its UK office, but there was no news about whether the UK positions will be affected. The Motley Fool had to close its German office in May, also citing difficult market conditions.