Wireless and Internet software delivery player Inktomi plans to cut 85 jobs
-- or about 20 percent of its workforce -- according to a Tuesday announcement.
The news follows an 18 percent staff cut in 2001.
''Current economic conditions in enterprise software mandate that Inktomi
further adjust its cost structure to move towards cash flow breakeven
performance,'' says company president and CEO David Peterschmidt in prepared
remarks. ''Inktomi's focus remains steady on providing
search solutions for the Web and enterprise markets as we continue to see
long-term growth potential for our products.''
Inktomi will release its quarterly earnings on Oct. 24, and
plans to post sales of about $20 million and a pro forma loss between 5 cents
and 7 cents per share.
Previous Stories:
Inktomi Leader Predicts Upswing
4/20/01
With the current economic climate, wireless operators face shrinking marketing budgets and reduced consumer spending.
Globally, the credit crunch is very much alive, and operators will be tightening their belts into the foreseeable future by putting off capital purchases.
