CRM vendor E.piphany lays off 15 percent of workforce

E.piphany Inc. laid off about 15 percent of its 660 employees, in an attempt to cut costs and meets its year-end goal of being profitable, according to a company spokeswoman.

The San Mateo, Calif.-based customer relationship management vendor made the cuts, which were centered on sales and management staff, on Friday, she said. Customer support and product development teams were mostly spared by the layoffs.

Last month, E.piphany reported a first-quarter net loss of US$13.5 million, or 19 cents per share, which was an improvement over the first-quarter loss posted a year before of $24.7 million, or 37 cents per share.

However, first-quarter 2002 revenues had fallen to $22.1 million, compared with $39.3 million posted the year before.

In addition to those numbers, the company said it has about $310 million in cash that it will use to continue to weather the downturn in the economy. The company made similar statements a little more than a year ago when it laid off about 100 employees.

E.piphany shares were up 37 cents in afternoon trading, at $5.40.

Join the newsletter!

Error: Please check your email address.

More about E.piphany

Show Comments

Market Place