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Technology Stocks : Corel - Investors with no Humor
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To: A. Reader who wrote (694)6/25/1998 7:14:00 AM
From: A. Reader   of 1094
 
COREL MOVES UTAH JOBS HERE
...ÿÿ"It's obviously not nice to close down a plant," a subdued Corel chief executive Michael Cowpland said during a conference call.
ÿTwo-thirds of the $5.5-million restructuring costs will likely show up in Corel's third quarter with the balance in 1999. The move is meant to help turn around the ailing software firm, saving an estimated $33 million a year.
ÿCorel expects the plan, which represents a 20% cut to its workforce, will be complete by March 1.
canoe.com
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