WordPerfect publisher to layoff 90 employees

Corel, the Ottawa-based software publisher of WordPerfect (anyone not working at a law firm remember that program?) that said last month it is in talks to be bought, reported Wednesday in an SEC filing that it will “reduce its global workforce by appoximately 8% or 90 employees worldwide.”

“Corel, like any company, must make periodic adjustments to ensure we are running as efficiently as possible and that we are focusing our teams and resources on the areas we believe offer the best opportunities for growth,” said Kris Hagerman, Interim CEO of Corel. “The actions we are taking today will enable us to expand our sales and marketing activity in emerging markets and enhance our eCommerce offerings – just two of the areas where we believe incremental investment will improve both our financial performance and our long-term competitive position in the market.”

Corel estimates it will incur a one-time restructuring charge in the fourth quarter ending in November of $2.8 million. The company re-affirmed its previous expectations for revenue and non-GAAP adjusted net income and earnings per share.

 

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  • bob

    Ottawa based not Toronto based.
    Publisher of WordPerfect.. and CorelDRAW, and WinZip (hmm.. anyone heard of that program.. yeah.. a few have I would think! Painter, WinDVD (built into 8 out of 10 of the world’s laptops), among other applications.

 
 
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