Software developer Inprise said today that it would cut its workforce by 20 per cent due to companywide restructuring.
The company, formerly known as Borland, broke the news as it reported its results for the fourth quarter ended December 1998.
Net income for the quarter was $3.5 million, compared with $730,000 during the same quarter a year before.
Revenue was $48.1 million, a drop of three per cent compared with $49.7 million a year earlier.
For the year, net revenue was $189.1 million, compared with $189.4 million in 1997.
The 20 per cent cut in headcount will follow restructuring moves, which will divide the company into two - Inprise and Borland.com.
Borland suffered huge job cuts in the early 1990s when total headcount went from 4,000 down to 800 and it laid off around 125 staff in October last year.
The company said it expected significant restructuring charges and costs associated with the staff cuts.
Dubbed I-MacEtch, it will help meet demand for more powerful nano-tech
GPU firm's research unit for self-driving cars is growing
Holds potential to lower costs of top notch medical imaging
EE, O2, Vodafone, Three and Airspan open the bidding