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Ottawa Citizen: Corel lands $30 million in financing, loses 2 execs

May 26, 2000, 11:35 (0 Talkback[s])
(Other stories by Bert Hill)

"Cash-strapped Corel Corp. has secured as much as $30 million in financing to keep operations going and pay for anticipated staff layoffs."

"But chief executive Michael Cowpland said yesterday it will could be another two weeks before Corel can reveal specific plans to cut operating costs by $40 million."

"However, two senior executives announced their resignations yesterday and other Corel employees are leaving the troubled company voluntarily for jobs in other technology companies."

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