Siebel, PeopleSoft to cut workforces

Siebel Systems Inc. and PeopleSoft Inc. both said they plan to cut jobs after reporting weak first-quarter results.

Siebel, which will lay off about 250 of its 5,850 workers, said its first-quarter profit dropped 93 per cent year over year to US$4.6 million, and revenue fell 70 per cent to $332.8 million.

PeopleSoft plans to cut 200 of its 8,180 workers. It had a $38.5 million profit on revenue of $460.3 million in the quarter.