Kana Gains 10.2% on Job Cuts

Author:: TSC Staff
Publish date:: Mar 1, 2001 10:41 AM EST

Kana Communications

(KANA)

was up 10.2% in early trading, a day after announcing it will cut 220 employees, or 20% of its workforce, in a bid to save $30 million to $40 million. The email- and communications-software company also said it is reorganizing its staff and revising its compensation system.

Today, email- and messaging-software company

CommTouch

(CTCH)

announced it would cut half its workforce, or about 190 people, as it reorganizes. The stock was down 20% after hitting a 52-week low of 88 cents.