Online financial information company TheStreet.com said yesterday that it was planning to cut its workforce by 20 per cent and to close down its operations in the UK, and record a charge.

About 40 full-time US employees will be affected.

TheStreet.com said its British operations - TheStreet.co.uk - accounted for about $9 million (€10.5 million) of its consolidated new losses for the nine months ended September 30th. The British company was going to run out of money by the end of this year.