Novell to lay off 1,400 jobs

NEW YORK: Novell, maker of networking software, said it would eliminate 19 per cent of its workforce, or 1,400 jobs, and take a charge of $55 million in an effort to become profitable again despite the slowing information-technology market. Novell, based in Provo, Utah, said preliminary results from the fiscal fourth quarter, ended October 31, showed that it beat analysts' estimates and its own forecasts by a penny a share. Excluding the restructuring charge, largely related its acquisition of the consulting firm Cambridge Technology Partners, Novell said it would report earnings of 1 cent a share, compared with break-even during the year-earlier period.

- AP

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Section  : Business
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