Pick-popper extraordinaire Ultimate Corp, East Hanover, New Jersey is suffering from the slowing US economy and is taking more drastic measures in its attempt to return to profitability. It has fired 175 employees, about 25% of its worldwide workforce in what it describes as an acceleration of its shift to software and services – and all but 40 of the cuts were outside the US. It has divested certain unpromising lines of business in France, Canada and Australia, with the remaining reductions reflecting cost efficiencies, consolidation of internal services and elimination of overlaps. The actions will lead to substantial charges to profits for the second quarter to October 31 to reflect associated costs.
