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Technology Stocks : Quintus (QNTS)

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To: J. P. who started this subject	12/13/2000 9:29:57 PM
From: bob zagorin	Read Replies (1) of 139

Quintus Fires 125, or 24 Percent of Its Workforce, to Cut Costs (Bloomberg) -- Quintus Corp., a maker of software that manages company orders and services, said it fired about 125 people, or 24 percent of its workforce, in an effort to cut costs. Its shares fell 51 percent. The company said the job cuts will result in annual savings of $8.3 million. Quintus, which provides e-mail and Internet systems to customers that include Citigroup Inc., Lucent Technologies Inc. and Procter & Gamble Co., has 400 employees remaining. The company said Nov. 22 it would restate $13.5 million in revenue over the past year after an audit showed the company had relied on falsified documents. Quintus had revenue of $51.7 million for the fiscal year that ended in March. The shares of Quintus fell $3.03 to $2.97 on the Nasdaq Stock Market. They had fallen 87 percent this year. Dec/13/2000 17:25 ET

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