Monday, September 27, 2004

Commerce One Announces Layoffs (washingtonpost.com)

Commerce One Announces Layoffs (washingtonpost.com) "Internet software developer Commerce One Inc. on Friday said it laid off about 61 percent of its staff to conserve cash ahead of plans to close down its business, sending its stock plunging during morning trading.
The San Francisco-based company said it cut about 56 of its 92 workers and expects to take a charge of about $200,000 from the layoffs, according to a Securities and Exchange Commission filing.
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The company, which was worth almost $20 billion at the peak of the dot-com era, nears its end after posting a string of losses and trimming about 3,600 employees over the past four years. Its shares fell almost 40 percent to 23 cents Thursday on news of its impending failure."
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