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Stocks Q / QAD Inc.

URL:  http://boards.fool.com/layoffs-10454393.aspx

Subject:  Layoffs Date:  12/9/1998  3:55 PM
Author:  jshobe Number:  28 of 39

QAD Inc. (Nasdaq:QADI - news) Wednesday announced an approximate 15 percent reduction in its global workforce, as part of a previously announced companywide restructuring plan to reduce its cost structure and improve profitability. As of Oct. 31, 1998, QAD's global workforce (excluding recent acquisitions) totaled approximately 1,300 employees.

The restructuring plan includes the consolidation of certain offices and facilities and reductions in staff across a broad cross-section of the company. Annualized cost savings are expected to exceed $20 million.

The company plans to take a charge against fiscal fourth-quarter results relating to the restructuring. The amount of the charge will be determined upon completion of the restructuring plan.
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