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Commerce One to Cut 400 Jobs

October 07, 2002|From Bloomberg News

Commerce One Inc., which makes software that links companies with suppliers, said it planned to cut about 36% of its work force, or 400 jobs, by the first quarter to reduce operating expenses.

The Pleasanton, Calif.-based company had about 1,100 workers at the end of the third quarter.

Commerce One has cut its work force from 3,766 at the beginning of 2001 as sales plummeted in the last two years because demand has evaporated for its software.

Sales are expected to decline 73% this year to $111.6 million, according to analysts polled by Thomson First Call.

Commerce One shares gained 44 cents Friday to $3.03 on Nasdaq.

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