Corel to slash staff by 21 per cent

Corel announced yesterday that it will cut its workforce by around 21 per cent in order to reduce costs. The action is part of a plan by the troubled Canadian software vendor to save $US40 million through cost cutting measures.

The job cuts affect the company across the board, Corel said in a statement issued yesterday.

Corel chief executive officer and president Michael Cowpland has agreed to forego his salary for an unspecified period as part of the effort.

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