Corel, the cuts continue
continues the painful work of restructuring its balance sheet and its workforce for Corel. The company, once one of the leaders in the graphics and word processing sector, announced yesterday that it had decided to cut 139 employees at its Dublin facility. Corel points out that this is not a dismissal as most of the staff will be offered the possibility of relocating to Canada, where its head office is located. Corel also adds that the Irish plant will not be closed, but only downsized and aimed at managing products on the international market.
"The consolidation of our operations – said the interim CEO Derek Burney – was a decision that we did not take lightly but we could not avoid if we want to re-balance our budget"
Corel's goal to save at least $ 40 million by the end of the year. Of these, 18 million will come from staff cuts and for this purpose 320 seats were cut down during the month of June. At the same time the then CEO Copwland (later kicked out) decided to give up his salary by $ 200,000 a year.
Now we are waiting for decisions on the cuts to the products that will come too. The fear of Mac users that Corel decides to discontinue some of the packages it has just purchased from Metacreations. Company managers have already stressed that this will not happen, but the risk until the Buriana has calmed down subsists.