Commerce One to Cut 46% of Its Work Force
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Commerce One Inc., maker of software to create online exchanges for corporate customers, said it will eliminate about 1,300 jobs, or 46% of its work force.
The company also plans to spin off some of the groups it acquired with the purchase of consulting firm AppNet Inc. in September 2000. That will move 600 employees from Commerce One, a spokesman said.
The cuts, which began immediately, are being made primarily among professional services, marketing, sales and administrative staff.
Shares of Pleasanton, Calif.-based Commerce One rose 21 cents to close at $3.50 on Nasdaq before the news was disclosed.
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