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Novell restructure leads to massive job losses

And the immediate future doesn't look too rosy...

By Aled Herbert

Published: 15 November 2001 16:55 GMT

Novell is slashing its workforce by 19 per cent in a wide-ranging restructuring programme.

The networking company will shed around 1,400 employees from its global workforce of around 7,500 as well as take a one-off restructuring charge of approximately $55m in Q4 2001. Almost all of the losses are expected to come from the company's recent acquisition of systems integrator Cambridge Technology Partners.

Novell is pinning much of its future hopes on the acquisition of Cambridge Technology Partners, which it bought for $266m in July this year.

The company said it aims to complete the restructuring process by Q2 2001.

Novell today announced preliminary reports for its financial fourth quarter results. Early figures suggest the company will report revenues of around $306m, while losses are estimated to be over $90m.

Novell will announce its fourth quarter results on 29 November.

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