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December 2, 1998

FALTERING PERITUS CUTS MORE JOBS

By CBR Staff Writer

Peritus Software Services Inc, the financially troubled provider of software maintenance outsourcing services, has cut 45 more jobs – about a quarter of its remaining workforce – in yet another round of restructuring. The news is the second blow in as many weeks for the Billerica, Massachusetts company, which last week warned that it would again be restating it revenues, this time for the latter part of last year. Peritus’ shares are also facing de-listing from the Nasdaq National Market. The company said that including the aforementioned charge it expects to report a loss for the fourth quarter of somewhere between $2.0m and $4.5m. The company has long been suffering through a shift away from year 2000 services as it copncentrates on the software maintenance business.

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