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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Murrey Walker who wrote (52948)	6/8/2002 12:46:10 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

ORCL--Oracle Denies Report About More Job Cuts PALO ALTO, Calif. (Reuters) - Software maker Oracle Corp.(NasdaqNM:ORCL - News), which last week cut 200 development jobs, on Friday dismissed as untrue an analyst report that said it will lay off as many as 600 more workers. ADVERTISEMENT "That's just not true," Oracle spokeswoman Jennifer Glass told Reuters. Citing sources, analysts at Credit Suisse First Boston said the world's No. 2 software maker is trimming its ranks by 1 percent to 2 percent -- or about 400 to 800 total jobs. The analysts figure the reductions would save Oracle between $48 million and $95 million. Oracle employs about 42,000 worldwide. A week ago, Oracle eliminated 200 positions that became redundant after the company restructured its struggling applications business, which builds and sells accounting, human resources and customer relationship management (CRM) software. The CSFB analysts said Oracle's early cuts were centered in CRM development and that additional reductions will come out of sales and marketing. "These cuts do not surprise us, given (Oracle's) limited traction in CRM and the need to resize the heavy investment to the opportunity," the analysts said. Glass took issue with that statement. "We are completely committed to CRM development," she said, adding the company sees the software segment as a growth area and is aggressively moving ahead with projects. The analysts kept their "buy" rating on Oracle shares. The company is slated to report the results of its key fiscal fourth quarter on June 18. Oracle's stock closed up 2.58 percent at $8.36 in Nasdaq trade.