Commerce One to lay off 36 per cent of staff
- 08 October, 2002 10:53
Software vendor Commerce One will lay off 400 of its current 1,100 staff by the end of this year. The 36 per cent headcount reduction is in order to cut costs during the current market downturn.
Like many companies in the e-business software market, Commerce One has been undergoing a difficult year. Revenue for the first six months of the year reached $US59.6 million, down 78 per cent from the $271.6 million recorded in the first half of 2001. Net loss so far this year has totalled $291.7 million.
In January, a major licensing agreement with SAP fell through, under which the two companies had planned to sell each other's online procurement software.
Early next year, the company will launch its new Commerce One version 6.0, a new suite of supplier relationship management Web services designed to boost enterprise sourcing and procurement applications. Actional, Baltimore Technologies, Cognos, Contivo, Sonic Software, and VeriSign will all make technology contributions to the new Web services platform underpinning Commerce One 6.0.