TMCnet News
Datawatch cuts 12 jobs in wake of slowing sales [The Sun, Lowell, Mass.](Sun (Lowell, MA) Via Acquire Media NewsEdge) Apr. 17--CHELMSFORD -- Datawatch Corp. confirmed that it has cut 12 people, or 5 percent of its work force, as a result of slowing sales. Senior Vice President John Kitchen, the company's chief marketing officer, said customers are taking longer to make purchases and, in many cases, are purchasing in smaller quantities. "It was a difficult decision (to cut jobs), but we had to take corrective action," he said. According to an SEC filing, which Kitchen confirmed, the cuts will be completed by the end of this quarter, which ends in June, and result in cash severance charges of about $96,000. Kitchen said "the bulk of" the positions cut were in the Chelmsford headquarters at Quorum Park, with a few occurring in overseas offices. "These were the kinds of jobs that were nice to have, but we didn't have to have," he said. According to Hoovers, the company's 35,000 customers have included the likes of Aetna, Ford, McDonald's and the U.S. Postal Service. Datawatch posted revenues of $23 million in its most recent fiscal year, which ended last September. Kitchen said the economic outlook is at least better than six months ago. "Things today are not quite as bleak as last fall, when sales dropped off the face of the earth," he said. The BI (business intelligence) space is still reasonably strong, compared to other markets. Overall, we're in a good space." |