"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."
