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July 21, 1987

UCCEL CUTS STAFF BY 25

By CBR Staff Writer

Uccel Corp, Dallas, has had to cut 25 people off the development teams working on the Infoloans, Automated Clearing House and Enterprise Management software projects because the cash in the kitty for the three projects, loaned by a unit of its main shareholder, Careal Holdings, is running out: $5m of the $20m loaned is left, and the numbers on the projects are down to 54; the loan is to be repaid from the proceeds of marketing the products once they have been completed.

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