Manugistics Gives Employees Another Involuntary Vacation
Ronna Abramson
08/05/02 - 07:45 PM EDT
For the second time in as many months, supply-chain software maker
Manugistics plans to shut down its offices for a week and force
employees to take unpaid vacation.
A spokesperson for the Rockville, Md.-based company confirmed Monday
that about 1,000 U.S. employees will take four days of unpaid vacation in
September following Labor Day. Manugistics, along with other tech companies
such as
Sun Microsystems (SUNW Quote - Cramer on SUNW - Stock Picks) and
Hewlett-Packard(HPQ Quote - Cramer on HPQ - Stock Picks), imposed a similar shutdown during the week of the July 4 holiday.
The Manugistics spokesperson said the latest round of unpaid vacation
days is part of Manugistics' ongoing efforts to align expenses with
expected revenue. The shutdown, following layoffs of 12% of
Manugistics staff, will occur at the beginning of the company's fiscal
third quarter.
Along with other supply-chain software makers, such as
i2
Technologies (ITWO Quote - Cramer on ITWO - Stock Picks) and
JDA Software (JDAS Quote - Cramer on JDAS - Stock Picks), Manugistics has been reeling from both
stiffer competition among enterprise software makers and customers' aversion to large deals. Manugistics, whose quarter is one-month ahead of its peers,
kicked off a dismal earnings season by
preannouncing disappointing first quarter results in June.
Shares of Manugistics fell 3 cents, or 0.9%, to close at $3.38 Monday.
Shares declined to $3.32 in after-hours trading.
