WebMethods Reports Loss, Layoffs

Share this article:
WebMethods said Friday that it would be reporting a first quarter net loss and revenue of approximately $55 million falling short of its early estimates and reduce its workforce by 15 percent.


It expects to report a net loss for the quarter of $.09 to $.10 per share. Cuts in spending across all areas will also take place.


"These challenging economic times continue to affect our business," said Phillip Merrick, chairman and CEO of webMethods, Fairfax, VA. "The sales cycle is lengthening as customers continue to defer spending decisions, and the internal approval process is becoming even more complex. As such we are taking steps to realign our resources and adapt our business to the current economic environment, in order to maintain our leadership position in this market."


Share this article:
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

AmEx Veteran Takes COO Role at Acxiom

AmEx Veteran Takes COO Role at Acxiom

Kerry Hatch ran American Express's OPEN business card division and led units at Starwood and Time Inc.

Red Roof Inn Turns Weather Woes Into Major Sales

Red Roof Inn Turns Weather Woes Into Major ...

The hotel chain woos stranded airline passengers with deals based on flight cancellations.

Signal Wants to Help CMOs Put Vendors to the Test

Signal Wants to Help CMOs Put Vendors to ...

The company claims its new Signal Tag can quintuple the number of A/B vendor tests marketers can do each year.