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Verity to Cut 13% of Its Staff

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will cut 13% of its staff in an effort to jumpstart the company into profitability by the third quarter.

The Sunnyvale, Calif., software maker will cut 65 jobs as it tries to align its organization with its expense structure and near-term revenue expectations.

The average estimate of four analysts surveyed by First Call is for the company to lose 2 cents a share in the third quarter, which ends next February.

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