Following up on its promise to cut jobs to counter sagging sales,
said Wednesday it is letting go up to 10% of its workforce, or between 580 to 600 people.
The cuts, which company spokeswoman Sue LaDow said are happening across the board, are specifically directed at the company's sales force. LaDow said that 16% of the company's direct sales reps and sales managers would be affected by the cuts.
This morning, Credit Suisse First Boston analyst Brett Thill published a note saying 30% to 40% of the firm's sales force would be dismissed "over the next day," including a number of the firm's long-standing employees. LaDow countered that the cuts would not be that large, and said the remaining individuals in the firm's sales organization accounted for 90% of its revenues the last four quarters.
Earlier this month, the company reported disappointing results for the second quarter, after warning that it would do so. It said then that job cuts would come.
At the end of the second quarter, the company employed 5,870 people, LaDow said.