Corel keeps losing money, lays off 20%

Corel Corporation, makers of the WordPerfect Office suite and CorelPaint, announced this week that it was laying off 20% of its workforce following a net loss of $8.3 million this quarter. The biggest job losses will be in Utah, where WordPerfect developers have worked since the early 1980's. Corel says its Orem, Utah WordPerfect engineering facility will be shut down; Some of the Utah jobs will be moved to Corel's Ottawa headquarters, but most will be eliminated. The changes are expected to save Corel about $33 million a year.

"First and foremost, we're doing this because it's the right business decision," said Corel senior VP Don Sylvester. "It's important for us to maximize our operational efficiencies and effectiveness by consolidating our research and development into one space.

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