CheckFree Holdings Corp. (CKFR), the next Dell, Intel? Message Board

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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?

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To: AugustWest who wrote (19875)	11/14/2002 7:48:36 AM
From: StocksMan	Read Replies (1) of 20297

Billserv Reduces Work Force and Pursues Strategic Alternatives Wednesday November 13, 6:49 pm ET SAN ANTONIO, Nov. 13 /PRNewswire-FirstCall/ -- Billserv, Inc. (Nasdaq: BLLS - News) today announced that it has reduced its work force by 36 positions in order to maintain the Company's liquidity with the continuing goal of achieving positive cash flow. To further assist with cost containment, the executive officers have suspended their compensation for an undetermined period of time. The Company's salary burden has been reduced by approximately 66 percent. The Company took this action due to continued weak capital markets and lower than anticipated available cash. The Company will continue to seek new customers and focus on servicing its existing customers. The Company's existing customers continue to experience quarter over quarter growth in electronic billing transactions with transactions growing in excess of 30% during the third quarter compared with 26% in the second quarter. The Company also announced that it is aggressively pursuing strategic alternatives, including investment in or sale of the Company. . . biz.yahoo.com

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