<div><p>TheStreet Inc. announced on Thursday it was cutting 18 jobs, or six percent of its workforce, in the latest cost-saving move by the online financial news company.</p><p>In addition to the 18 positions being eliminated, TheStreet, which publishes TheStreet.com, RealMoney.com, Stockpickr.com, MainStreet.com and other websites, said that three open positions would not be filled.</p><p>TheStreet said the staff reductions were expected to result in 2.4 million dollars in savings a year.</p><p>Following the cuts, TheStreet will have some 290 employees, it said in a statement.</p><p>"This action, while difficult, allows us to continue to invest in new initiatives while remaining well positioned for future growth opportunities," chief financial officer Eric Ashman said.</p><p>TheStreet, which was launched in 1996, reduced its workforce by 11 percent last year and froze salaries throughout the company. It also eliminated all 2008 bonuses.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=45362011&bid=informcom" /></div><div id="copyright"><div>

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