Business Services Industry
Bellevue, Wash.-Based Software Developer to Trim Ranks by 120 Jobs.
Knight Ridder/Tribune Business News, July, 2002
By Tricia Duryee, The Seattle Times Knight Ridder/Tribune Business News
Jul. 18--Bellevue-based Bsquare, which had more than 500 employees at its peak, announced yesterday that it performed better than expected during the second quarter but will cut 120 jobs anyway to try to become profitable again.
The 30 percent reduction in staff will save $13 million to $15 million a year, company officials said. Bsquare expects a net loss for the second quarter of 20 cents to 25 cents a share. That could mean a loss of $7.1 million to $8.9 million for those three months alone.
Bsquare, which develops software for handheld devices, will release final results for the second quarter of this year next Thursday.
The cuts, which will happen over the...
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