Software company Amdocs (NYSE:DOX) today officially denied reports that it is about to substantially cut its staff.
A report appearing in the Israeli media today said that the company will be firing about to fire hundreds of people, possibly as many as 1,000, today.
Amdocs terminated dozens of jobs in March this year. At the time, chief executive Avi Naor said the company plans to recruit some 400 new people each quarter.
The company, which makes billing and customer care software solutions primarily for phone companies, employs 7,500 people around the world.
In early October it announced the acquisition of peer software maker Clarify from Nortel (NYSE:NT) for $200 million. At the same time Amdocs lowered its forecasts for 2002, based on the slowing pace of new orders.