Epicor Software to Trim Staff, Managers’ Salaries
Epicor Software Corp., a developer of business software, announced an additional round of cost-cutting, trimming its work force by nearly 15% and cutting salaries of senior managers by 5%.
The Irvine company, which employs more than 1,000 people worldwide, said the cuts probably would reduce fourth-quarter profit by $2 million, but should thereafter save it $3 million to $4 million a quarter.
Another Orange County software firm, Starbase Corp. of Santa Ana, also said it cut 12%, or about 30 people, from its work force, and suspended executive bonuses and stipends for directors.
Starbase has posted losses for the last five years, including a loss of $16.6 million on revenue of $41.6 million for the fiscal year ended last March 31.
Epicor shares closed at $2.06, up 56 cents, while Starbase closed at 75 cents, up 4 cents. Both stocks trade on Nasdaq.
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Daryl Strickland
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