CBSMarketWatch/Reuters: Corel needs more cuts to stay afloat - analystsJun 09, 2000, 20:58 (0 Talkback[s])
(Other stories by Susan Taylor)
"Canadian software developer Corel Corp. , treading water in an ocean of red ink, must make deeper cost cuts to keep the company afloat, despite having axed one-fifth of its work force, analysts say."
"The cuts that they announced yesterday look to me to get maybe half of the cost savings that the company has announced they are going for," said BlueStone Capital Partners' Jean W. Orr, one of the few analysts who follows Corel. "I think there are going to have to be other cuts made -- whether or not they can do that without cutting more people I'm not sure."
"Corel said it cannot disclose the savings or severance costs from Thursday's layoffs because it is in a quiet period after filing a prospectus for a recent financing."