Wireless Internet software company Openwave Systems Inc. again announced plans to cut costs amid dwindling revenues, this time with plans to eliminate 180 jobs or 12 percent of its work force.
“We continue to be cautiously optimistic about operators’ increased focus on mobile data and services that create a differentiated experience,” said Don Listwin, the company’s president and chief executive officer. “We believe these cost reductions along with our go-to-market strategy with partners and our strong product and services portfolio will allow us to achieve our financial and operating goals.”
The company said the move is an acceleration of its cost-reduction plan for this year and will lower its quarterly expenses by about $10 million within the next two to three quarters starting in September. Openwave said it will take a charge of between $8 million to $14 million for the reduction.
Investors seemed disheartened by the news, sending the company’s stock down about 3.7 percent to about $2.30 per share.
Openwave in September announced a 25-percent reduction in its work force. The company reported a net loss of $23 million in its most recent quarter.
