Amdocs (NYSE:DOX) ( DOX) is restructuring itself into four business units, TheMarker has learned.

The management of the U.S.-Israeli billing and customer-care software company is still working out the details of its reorganization. Amdocs has already trimmed its workforce by about 1,000 people or 10% this year.

The four divisions will be finances and administration; services to be headed by Sami Totah; products to be headed by Nissim Daunov; and a new unit, New Venture, which will be led by Daniel Keret and will focus on locating business opportunities.

New Venture's purview will extend to finding new products, as well as new business ventures. The rationale behind setting up the new unit just as the company is cutting back may be the slowing pace of new contracts, which was evident in the company's second-quarter statement for this year.

"Amdocs has made several moves to adapt its activity to the deteriorating situation of the global telecom market," commented Amdocs' spokesman Motti Scherf. "Among the measures the company has taken are changes in its business, marketing arena, cutting expenditure and costs and adjusting its workforce. Another important phase in its redeployment is organizational, which has yet to be completed. When it is completed, we can comment on it."

Amdocs, which develops billing and customer care software for communications companies, recently reported that it lost $26.8 million or 12 cents per share in its fiscal third quarter ending June 30. For the fiscal second quarter the company reported netting $26.4 million, and for the fiscal third quarter of 2001, it netted $18.5 million.

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