i2 Technologies lays off 587 workers

i2 Technologies lays off 587 workers

Struggling business-to-business and supply-chain software vendor i2 Technologies said it's laying off another 10 per cent of its workforce, or 587 workers, in order to become profitable.

As of yesterday, i2 had 5,870 employees, according to spokeswoman Sue LaDow. "Yesterday, we started the actions with our impacted employees," LaDow said.

It is the second round of layoffs for the company in the past four months. In April, i2 said it laid off more than 600 workers after its first-quarter profits came in nearly 50 per cent below the year-earlier level. Like other business-to-business vendors, i2 is being hit by a slowdown in the economy and lower-than-expected sales.

Last week, i2 reported that total revenue for the second quarter fell to $US241 million, from $243 million in the second quarter of 2000. The company reported a net loss of $861 million, or $2.08 per share, for the second quarter, compared with a loss of $281 million, or 83 cents per share, in the second quarter a year ago.

On Monday, i2 announced the departure of Reagan Lancaster, the company's president of worldwide field operations. Lancaster, who had been with i2 for the past six years, was named to the position in May.

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Brand Post

Show Comments