Vignette Tumbles as it Warns on Third Quarter, Cuts Jobs

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Vignette (VIGN) was down 21.3% in early trading after the Internet application software company warned it will post a net loss of 5 cents a share, wider than the consensus estimate of a 3-cent loss published by Thomson Financial/First Call. Revenue will be $70.5 million, the company said.

Vignette also said it will cut 20% of its workforce.

The company said business was negatively affected by the economic climate following the Sept. 11 attacks.