Business Services Industry
Indiana-Based Software Supplier for DaimlerChrysler Reduces Jobs, Expansion.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2001 by Caleca, Vic
Jan. 9--Powerway Inc. -- an Indianapolis business software developer that announced aggressive expansion plans late last year after landing a large contract with DaimlerChrysler AG -- has cut 44 jobs and put its proposed growth into low gear as a result of national auto industry woes.
The 278-employee company makes software that helps automakers and other companies streamline the development of new products by efficiently managing supplier networks and other processes.
DaimlerChrysler invested $25 million in Powerway last year, announcing it would require all of its suppliers to adopt the software system over the next few years.
But DaimlerChrysler -- along with the rest of the automotive industry -- experienced dramatic sales declines toward...
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