Evolve Software

(EVLV)

will cut its workforce by about 10% as part of an effort to reach profitability.

The e-business software provider said the job cuts will help the company break even by the end of its 2002 first quarter, one quarter earlier than previously estimated.

After the reduction, Evolve will employ about 350 people. The company expects to report a $1 million charge associated with the cuts in the current quarter.

Shares of Evolve, which is based in Emeryville, Calif., fell 13 cents, or 2.1%, to $5.75 in recent

Nasdaq

trading.