“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.“