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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (9700)	2/24/1998 10:28:00 AM
From: syborg	Respond to of 14631

I would be interested in what businesses IFMX can pull away from SYBS. I would be interested in why that would happen. Is it simply because companies might worry about the future stability of the company? If so, than both my IFMX and SYBS investments are in the same boat. On SYBS I am hoping for a quick pop in response to the cost cutting. syborg

To: puborectalis who wrote (9700)	2/24/1998 11:20:00 AM
From: Tom Lee	Respond to of 14631

____Heads Roll At Sybase____ Sybase yesterday laid off 600 employees -- more than 10% of its total workforce -- in a cost-cutting move that follows recent financial losses and accounting bungles. The largest number of staff reductions will occur in Sybase's San Francisco Bay area offices, company officials say, with additional job losses in the company's Boston-area and international locations. Sources say the layoffs cut across several divisions and product lines, including the company's sales and marketing organization, various product groups, and internal IT departments. In January, Sybase announced a net loss of $25 million for the fourth quarter, and a $55 million loss for fiscal 1997. The losses are partly blamed on an accounting error in which Sybase's Japanese subsidiary overstated revenue by some $43 million. Sybase CEO Mitchell Kertzman previously indicated layoffs were targeted for this quarter, but did not disclose their extent. -- Rich Levin