N2H2 to Move Corporate HQ to Cheaper Digs

SEATTLE-In another effort to cut costs and keep the company going, N2H2 Inc. says in a report filed with the Securities and Exchange Commission that it will move out of its current location into a less pricey place.

The company, which sells Internet filtering software, has been dogged by many of the woes plaguing the dot-com industry and is in downsizing mode. At one time, the company employed more than 500 people, but now only about 100 remain on the payroll.

In its annual 10K filing, N2H2 reports it has sublet 7,530-sf of the 38,724 sf it leases at the Bank of California building. That deal will save the company nearly $200,000 in yearly costs.

The relocation will put about 30,000 sf of office space to the already struggling downtown market.