PNG Govt takes to Concept Systems' tenderThe Papua New Guinea Government found nothing fuzzy-wuzzy about ASX-listed Concept Systems International's (CSI's) tender to roll out a human resources and payroll system into the National Capital District Commission (NCDC).
The management software developer secured the $400,000 contract to reduce the NCDC's administration costs and improve wage and salary procedures for its 750 staff.
CSI is putting the win down to the time and resource investment it has made in the region and is confident the deal will springboard the company into further corporate and government contracts in the Asia-Pacific region.
Lotus to cut 183 US jobs
The meaning of "reorganisation" became clearer last week at Lotus Development.
In January, Lotus president and CEO Al Zollar sent an oblique, company-wide e-mail announcing a reorganisation. Zollar subsequently declined to comment on the reorganisation when the e-mail came to the media's attention.
Last Monday, the software maker told employees it is eliminating 183 jobs. Yet at the same time, the company is advertising jobs in the Boston area and on its Web site.
The 183 employees have 60 days to find another position at Lotus, at parent company IBM or elsewhere. In the meantime, they will continue to receive pay cheques, said Lotus spokeswoman Mary Rose Greenough. The company has a worldwide workforce of 6800.
Oracle stock hit after earnings warning
Oracle's stock took a beating on Nasdaq last week, dropping 21 per cent after the business software company warned that third-quarter earnings will fall short of expectations.
In trading volume of more than 82 million shares, Oracle (ORCL) fell $US4.50, or 21.05 per cent, to $16.87 a share in morning trading.
Oracle announced that its revenue for the third quarter ending February 28 will rise about 9 per cent. That falls below the 15 to 17 per cent range expected by analysts, according to First Call/Thomson Financial. Oracle projected that earnings will come in at $0.10 a share and analysts had expected $0.12 a share.
Oracle CEO Larry Ellison blamed the revenue slowdown on the US economy and customers holding off on IT spending, according to a statement.