Software vendor Commerce One has announced it will lay off 400 of
its 1,100 staff by the end of this year.
The layoffs are part of a move to cut costs.
Commerce One has been undergoing a difficult year as the e-business
software market remains slow. Revenue for the first six months of
the year reached $59.6m (£38.1m), down 78% from the $271.6m
recorded in the first half of 2001. Net loss so far this year has
totalled $291.7m (£186.4m).
In January, a major licensing agreement with SAP, under which the
two companies planned to sell each other's online procurement
software, fell through.
Early next year, the company will launch Commerce One version 6.0,
its latest 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 Web
services platform underpinning Commerce One 6.0.