StorageNetworks to cut 25 percent of staff

Once-highflying StorageNetworks suffered another downturn in business last week and announced it would reduce its headcount by 25 per cent.

The company, formerly a storage service provider, is now transforming itself into a software management company.

Like other SSPs-turned-software-vendors - such as Storability, Creekpath and Arsenal Digital Data - StorageNetworks has seen that the storage management market is a tough sell in this economic downturn. Storability and Arsenal Digital Data also laid off staff in the past year.

Storability just announced a new version of its storage software, called the Global Storage Manager - sales of which it hopes will reverse the company's slide.

After the layoffs, StorageNetworks will have 215 employees. These headcount reductions follow a 23 percent workforce reduction last May and a 33 percent layoff in July 2001. StorageNetworks has no new products pending, observers say.

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