Vignette suffers job cuts

NEWS Shares in Vignette closed down 21.62 per cent Friday, after the company announced it is to slash twenty per cent of its work force following poor preliminary third quarter results. Share price on the New York stock exchange fell to $4.17, but the company blamed last month's terrorist attacks for a fall in revenue. Revenue for the quarter ending 30 September 2001 is expected to be $70.5m, with a core operating loss of $15.5m and a net loss of five cents per share. This contrasts with revenue of $110.3m, a core-operating loss of almost $9.2m and net loss of one cent per share for the same quarter last year.