The Internet consulting company MarchFirst will close its Australian offices this afternoon, leaving more than 100 staff out of work.
Employees will officially be told around 4pm not to report to work on Monday.
The company has three offices in Australia - Melbourne, Sydney and another in South Australia, employing over 100 people.
A spokesperson from MarchFirst's New York office confirmed to ZDNet Australia a short time ago, that the professional services company has been placed under voluntary administration due to Australian market conditions.
A spokesperson says the move does not affect MarchFirst's US operation, however staff say the company's Los Angeles office closed yesterday, while the Toronto office shut on Monday.
One Australian staff member says contracts worth many millions of dollars are now in doubt, including deals with Workcover South Australia and Medibank Private.
The company's share price is currently 16 cents US. Trading on the Nasdaq was halted on March 28, with a request for the company to provide additional information.
