Novell is slashing around five per cent of its staff after posting "disappointing" second-quarter results. The company said that slow market conditions were to blame, and that 260 workers would face the axe as part of the cost cutting exercise.
"We're obviously disappointed with the uneven results for our second fiscal quarter," admitted Novell chief executive Eric Schmidt. The company reported losses of £105m, around 34 pence per share, against sales of £168m. The losses also included around £100m in investment expenses.
However, the company still reckons it will return to profitability by the end of the year, a notion that sparked the redundancies, which will take effect by the end of the month.
At the same time, Novell's content and hosting spin off, Volera, announced its entrance into the Europe, Middle East and Africa marketplace. Volera will be targeting carrier-grade internet service providers and hosting providers with a range of content hosting and caching systems.
The announcement was supported by IBM, which will incorporate Volera's Excelerator 2.0 software into its xSeries 300 streaming media servers.
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