IXOS Software AG
IXOS announces restructuring and reduction of global workforce
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
IXOS announces restructuring and reduction of global workforce
Grasbrunn, Munich, March 16, 2004 – IXOS SOFTWARE AG (NASDAQ OTC: XOSYY,
FWB:XOS) today announced that it is reducing its global workforce by 14 percent,
or approximately 130 people, with about half of the reduction occurring in
Germany. Todays action is a move to streamline business operations and align
company resources to enhance profitability and position for future growth.
The restructuring will be initiated immediately and is expected to be completed
by June 2004. The savings will be achieved through a combination of headcount
reduction and tight cost management.
IXOS plans to record a total extraordinary charge of approximately 14 million
euro in Fiscal Q3 2004 relating to this restructuring activity and other one
time charges. IXOS expects a negative operating result for Q3. Additional
details with an updated full year guidance will be reported in IXOS Q3 results,
which will be announced on May 4, 2004.
As part of these cost-reduction measures, IXOS has started the process to delist
from NASDAQ and to move its German listing from the prime to the general
standard.
IXOS and Open Text both remain firmly committed to the German market and to
maintaining a strong operations base in Germany.
IXOS SOFTWARE AG – Executive Board
Contact: IXOS INVESTOR RELATIONS HOTLINE ++49/89/4629-2400
end of ad-hoc-announcement (c)DGAP 16.03.2004
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
IXOS announces steps to enhance competitive leadership and profitability in
consolidating industry – Focus on Cost Reduction to Strengthen Leadership
Position Together with Open Text
“We are reducing overall expenses and focusing spending on achieving maximum
value for key sales, marketing and development initiatives that are essential to
our strategic direction,” said Robert Hoog, Chief Executive Officer of IXOS.
“Customers can be assured of our ongoing commitment to continue development and
support of our products.”
——————————————————————————–
WKN: 506150; ISIN: DE0005061501; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
160809 Mär 04
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found