is dismissing 20 workers from its marketing and customer service unit, TheMarker.com has learned. The company says it's not in trouble but is cutting costs.
During a previous wave of dismissals in November, Softwatch fired 18 people from its Israeli operations and five from its New York center. At its peak, Softwatch employed 144 people.
Softwatch insists that it is not having difficulties and reiterated that it is determined to go public. It simply outsourced its marketing activity in the United States to
(NYSE:CSC), the company explains. Its concept is to focus more on technology and less on marketing, which can be handled by third parties at lower cost, it says.
Softwatch was founded in 1994 by chairman and CEO Amir Kishon and president and COO Asaf Evenhaim. Its eHealthcare software manages customer relations in the medical and pharmaceuticals sectors.
In mid-2000 Software secured $20 million at a post-money company valuation of $110 million from
and Alex Brown. In 2000, the company reported revenues of $8 million. It hopes to turn profitable in 2001.