Ailing supply chain management software maker i2 Technologies Inc. last week announced that it is yet again embarking on a plan to shed jobs and other expenses to try to fatten its bottom line and return to profit.
The company announced a program aimed at cutting operating costs by 10 percent "through workforce, program and other expense reductions in all its organizations and regions."
However, i2 also said in a statement that it plans to invest money in sales and customer management to "stabilize revenues."
Offering a positive note on the plans, i2 Chairman and CEO Sanjiv Sidhu said, "We feel confident that the planned reductions will result in minimal customer impact."
The company also announced that it anticipates that by selling stock, it should be able to gain access to US$42 million it might need for the potential settlement of pending lawsuits against it.
An i2 spokeswoman said the company couldn't provide exact numbers on the upcoming layoffs but does "expect to have those final details the beginning of April."