Compuware workers in Detroit and elsewhere are bracing for possible layoffs and other cutbacks after its latest disappointing financial quarter, JC Reindl reports in the Free Press.
CEO Robert Paul disclosed the expanded cost-cutting plan in a conference call this week with analysts, saying the business software maker is now aiming to trim $80 million-$100 million during the next two years. The previous goal was $60 million over three years. . . .
The company reported disappointing fourth-quarter results and said that its total year-over-year revenue is expected to drop from $1 billion to an estimated $942 million-$946 million for the fiscal year that ended March 31.
Full financial results are expected May 21. Last year, the company made $88 million net revenue off $1 billion in total revenue. . . .
Paul said Compuware is continuing to work with financial advisers Goldman Sachs and Allen & Co. to evaluate any credible sales offers it receives.
Compuware is shedding 160 workers and shuttinge or shrinking 16 offices in a cost-cutting round announced earlier, Reindl wrotes. It had 4,567 employees in 2012 before layoffs, including 1,973 at its downtown Detroit headquarters.
Compuware Ventures, a division of Compuware, provided funding for Deadline Detroit.
