SiliconBeat

David Cunningham resigned today as vice president of sales at Chordiant Software. No reason was offered in the company’s filing with the SEC.

The terms of his severance, while probably better than the benefits paid to the Read the rest of this entry »

We continue to be fascinated by the mixed messages sent out by companies that are laying off employees at the same time they are giving more money to executives to convince them not to leave.

Is there some increased need for managers that works inversely to the number of employees left to manage?

Chordiant Software, the Cupertino company Read the rest of this entry »

Chordiant Software slashed its forecast for its fiscal fourth quarter by a third and said it
will lay off 33 employees, or about 13 percent of its work force, after sales dropped toward
the end of September.

“The macroeconomic climate, even in the emerging geographies, which until recently had
remained strong, deteriorated significantly during Read the rest of this entry »

Ray Bingham quit the board of KLA-Tencor Wednesday, effective immediately, according to an 8-K filing the company made Thursday in which no reason was given. He apparently becomes the first beneficiary of a policy adopted by the board in February that allows directors in “good standing and with at least two full terms of Board service” to speed up the vesting of his unvested restricted stock on a prorated basis for his partial year of service. Read the rest of this entry »

Chordiant Software of Cupertino reported Tuesday that it expects to report as much as a 28 percent drop in sales for its quarter just ended compared to the same period last year, and that its profits will swing to a loss.

The culprit: more cautious IT spending among customers of Chordiant’s enterprise software used mostly by banking, insurance,  health care and telecommunications companies. In particular it noted weakness in orders from financial service firms in North America and the United Kingdom.

Sales are forecast to be between $23.5 million and $25 million for the quarter, down from
$32.8 million in the year-before quarter and $29.1 million the quarter before.

It says it will report a loss of as much as 16 cents per share for the quarter, compared to a
15-cent profit the year before and a one-cent profit the quarter before.