Newt Gingrich scales down campaign after falling short of money

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US Republican presidential hopeful Newt Gingrich, who is trailing behind others and running short of money, on Wednesday announced scaling down of his operations and removing one-third of the campaign staff.

While the American media was quick to dub the move as suggesting that his campaign may be approaching its last days, the Gingrich side asserted that the former Speaker of the US House of Representatives is still in the race.

So far, Gingrich has won the Republican presidential primaries in just two states at South Florida and Georgia - and has only 141 delegates in his kitty as against 565 of the front runner Mitt Romney and 256 of Rick Santorum.

According to Politico, Gingrich's campaign-finance report for February, released last week, showed more debt (USD 1.55 million) than cash on hand (USD 1.54 million).

Gingrich's campaign communication director Joe De Santis said the former Speaker will continue to visit states with primaries, but will have a less intense campaign schedule.