I2 to lay off 15% of workforce

The cutbacks will affect about 300 employees

By Robert McMillan

March 31, 2005 12:00 PM ET

Recommended

IDG News Service - Supply chain software vendor i2 Technologies Inc. yesterday announced that it has begun a round of layoffs that will see up to 15% of its 2,000-person workforce eliminated.
The struggling software vendor will notify most employees of the layoffs by today, the end of the company's first fiscal quarter, said company spokeswoman Beth Elkin. The layoffs will be companywide and aren't focused on any one business unit or geographic region, she said.
Faced with losses and declining revenue over the past year, i2 is looking for ways to cut costs. Though the layoffs will result in a restructuring charge for the company's first quarter, the Dallas-based company hopes to eventually trim more than $15 million off its operating costs. Operating expenses totaled $85 million in the fourth quarter of 2004, the company said.
In addition to the layoffs, i2 also hopes to cut costs with a number of unspecified program and operating expense reductions, Elkin said. The company plans to detail these programs during its next quarterly earnings call, she said.
The workforce reductions come just over a month after i2 appointed Michael McGrath president and CEO. In yesterday's statement, McGrath said he was given a "mandate by the board of directors to resize and refocus i2."

Recommend Digg Twitter ShareThis

Email Print Send Feedback Reprints

Reprinted with permission from

IDG.net
Story copyright 2009 International Data Group. All rights reserved.

Jump to comments

Careers

Additional Resources

WHITE PAPER

EFD vs. HDD - What You Need to Know

Enterprise flash drives provide a new Tier 0 storage layer capable of delivering high I/O performance at a very low latency. Proper use of EFDs in an Oracle environment can deliver increased performance compared to fibre channel drives. Read the recommendations for identification of the best DB components for EFDs.

WHITE PAPER

Gartner Research Report: Magic Quadrant for Application Delivery Controllers, 2009

The market for products to improve the delivery of application software over networks remains dynamic and innovative. Vendors focused on solving enterprises' most-pressing application problems have become the top players.

WHITE PAPER

Eight Criteria for Server Load Balancing

Server load balancers are a simple yet highly effective means to scale an application environment while ensuring its availability. Today's solutions should also address application performance and security. Read about the top eight criteria you should consider when choosing a server load balancer and how Citrix NetScaler meets those requirements.