Platinum Makes Cuts To Boost Profits - InformationWeek

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Platinum Makes Cuts To Boost Profits

Platinum Technology Inc. disclosed plans late yesterday to increase its profits by reducing operating margins and consolidating its existing five business units into two divisions. As part of its cost-cutting measures, Platinum says, it will shrink its workforce by approximately 15%, or 1,000 employees.

Platinum will now have two major business groups: Enterprise Management and Application Life Cycle, and Knowledge Management. The system-management software and services company will reconfigure its sales and consulting forces so that each customer has a single point of contact. Platinum is also closing some offices and relocating the staffs from them to other offices in close proximity.

Platinum says it will be subjected to a one-time charge of between $90 million and $110 million this quarter because of its planned actions.

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