Borland International(BORL) said today that it expects to post a second-quarter loss and cut 15 percent of its work force at its headquarters.
Borland will report a loss of 32 cents to 36 cents a share for the quarter and expects to post revenues of $36 million. In the second quarter a year ago, it reported net profits of 8 cents a share and revenues of $51.3 million.
Borland, a software development tool maker, made the announcements as it tries to implement a turnaround strategy to move it past its financial rough seas. The company plans to cut 125 workers from its corporate payroll to reduce costs as part of a larger plan to eliminate redundancies of duties and improve responsiveness to customers, said Whitney Lynn, acting chief executive and president.
"The layoffs, the cost reductions, and operational streamlining are necessary for Borland to remain viable and compete effectively in the emerging Internet-intranet and client-server marketplaces," he said in a statement.
Borland said the losses stem from slower-than-expected sales as the company makes the transition from desktop markets to departmental and corporate technologies.
Under its restructuring, the company is placing more focus on departmental and corporate information technology officers. The company's product mix now includes software development tools for the desktop to the enterprise.
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