Corel - Investors with no Humor Message Board

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Technology Stocks : Corel - Investors with no Humor

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To: A. Reader who wrote (698)	6/26/1998 7:42:00 AM
From: A. Reader	of 1094

The moves will have no immediate impact on the company's products, according to Don Sylvester, senior vice president of sales for Corel. "I think what customers are going to see initially is no change at all in terms of services and products as they exist right now," Sylvester said. Users, however, are skeptical. "My concern is whether it's an indication that the product is weakening or whether its competitive position is slipping further," said Harry Glass, a special assistant for the U.S. Department of Health and Human Services, in Washington. The layoffs were announced at the same time Corel reported a net loss of $8.3 million on sales of $63 million for its second fiscal quarter, ended May 31. "First and foremost, we're doing this because it's the right business decision," Corel's Sylvester said. "It's important for us to maximize our operational efficiencies and effectiveness by consolidating our research and development into one space." zdnet.com

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