Epicor Software to Trim Staff, Managers' Salaries

By Daryl Strickland

Jan. 4, 2002 12 AM PT

Epicor Software Corp., a developer of business software, announced an additional round of cost-cutting, trimming its work force by nearly 15% and cutting salaries of senior managers by 5%.

The Irvine company, which employs more than 1,000 people worldwide, said the cuts probably would reduce fourth-quarter profit by $2 million, but should thereafter save it $3 million to $4 million a quarter.

Another Orange County software firm, Starbase Corp. of Santa Ana, also said it cut 12%, or about 30 people, from its work force, and suspended executive bonuses and stipends for directors.

Starbase has posted losses for the last five years, including a loss of $16.6 million on revenue of $41.6 million for the fiscal year ended last March 31.

Epicor shares closed at $2.06, up 56 cents, while Starbase closed at 75 cents, up 4 cents. Both stocks trade on Nasdaq.

Daryl Strickland