Business-to-business (B2B) software developer Commerce One Inc. has confirmed it would cut up to 10% of its workforce, or 360 employees, in an effort to reduce costs amid slowdowns in the U.S. economy and IT spending.
Commerce One, which develops software for online marketplaces, currently has approximately 3,600 employees. The layoffs, which already began in the first quarter of this year, will impact all divisions including sales, marketing and development.
Commerce One isn't the only B2B vendor that has been hit by the current woes on Wall Street. Last month, rivals Ariba and I2 Technologies cut one-third and 10 per cent of their staff, respectively.