"Money-losing Corel Corp. said on Thursday it will lay off
320 staff, or 21 percent of its workforce, and its chief executive
will forgo his salary as part of a cost-cutting plan to trim $40
million from its annual expenses."
"Ottawa-based Corel, which recently announced a much-needed
financing deal worth C$30 million, said the job cuts included
terminations, attrition, and contract cancellations. Staff in all
departments were affected, the company said in a statement."