Business Services Industry
Cary, N.C.-Based Technology Firm Issues Warning, Cuts Staff.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2001 by Dyrness, Christina
Jan. 11--CARY, N.C.--Level 8 Systems got in line with the rest of the technology industry Wednesday by warning that fourth-quarter earnings would be lower than expected and saying that it would trim its work force by 15 percent, or about 60 jobs nationwide, including 15 at its Cary headquarters.
The company said that sales for the quarter that ended in December would be about $19 million, or $4 million less than expected. Level 8 had $22.3 million in revenue in the previous quarter.
Chief Executive Officer Steven Dmiszewicki said several customers canceled or delayed large orders for Level 8's electronic-commerce software.
"We won the business," Dmiszewicki said, "but when you went up for signature, people were questioning, `Do we have to buy...
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