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Ottawa Citizen: Cost-cutting alone won't save Corel

Jun 09, 2000, 13:04 (0 Talkback[s])
(Other stories by James Bagnall)

"Corel Corp. isn't out of the woods yet. By sacking one-fifth of its workers yesterday, the graphics software specialist expects to be able to save more than $20 million U.S. annually."

"But that amount likely won't be enough to avoid continuing losses over the next two quarters. Indeed, Corel may be as much as $20 million U.S. short -- and this figure doesn't include the millions of dollars the firm must now set aside to pay for the severance costs unveiled yesterday."

"To bridge the gap, Corel either must generate quarterly sales significantly higher than $44 million U.S. -- something the firm has already warned investors not to expect -- or sell off assets considered peripheral to the main business. This could include the sale of its equity stake in affiliated companies such as Ottawa-based or Graphon Corp. of Campbell, California."

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