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eWeek: Corel to cut 139 jobs

Sep 06, 2000, 21:11 (0 Talkback[s])
(Other stories by Tiffany Kary)

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"Corel Corp. said Wednesday it has identified how it will shave off previously announced cuts of $40 million and realign the company's costs with its expected achievable revenue...."

"Under the restructuring plan, Corel expects to reduce expenditures by $40 million on an annualized basis. The cost reductions are being implemented across all departments, including $18 million in salaries, benefits and third-party contract expenditures; $12 million in advertising, marketing and market development costs; $5 million in cost of sales and product-related expenses; and $5 million in other general and administrative costs."

"A total of 139 positions at Corel's Dublin facility will be "affected," according to the press release. On the conference call, the company said these jobs would be cut, but employees would have a chance to reapply for jobs in Ottawa."

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