Novell might cut jobs off
Networking giant Novell is expected to soon announce job cuts. Almost 1000 workers are expected to lose their jobs as the company struggles to restore the financial strength. However, the company would most likely prefer to wait until the end of their financial fiscal. The company is under tremendous financial pressure especially after their announcement of the third-quarter results.
Novell reported 5 percent drop in their revenues and a massive 91 percent drop in income. Their investors are calling for major changes in top management in addition to major emphasis on their plans with Linux. They also want Novell to sell of some of their loss making divisions.
The company has refused to comment on these rumors circulating in the market but have more or less agreed with the market analystâ€™s assessment on companyâ€™s performance in the recent times. The cost cutting measures would hurt the companyâ€™s Extend product line and software based on the application server. This is part of the services company gained when they acquired SilverStream Software in 2002.