Saturday, March 03, 2001
Digineer cuts 19 of 131 jobs
By John J. Byczkowski
The Cincinnati Enquirer
Digineer Inc. of Deerfield Township laid off 17 percent of its work force this week, as it tries to conserve cash and tweak its business strategy.
The software company, whose major customers are in the health care industry, cut 19 of its 131 workers this week. The company had up to 140 employees in 2000, and earlier cuts were made through attrition.
Workers cut included programmers, human resources staff, administrative aides and quality assurance. They received a severance package including pay and outplacement services.
Digineer was caught up in last year's tech wreck, a dose of reality delivered to high-tech companies by the stock market. There is less Internet-related business, and old economy companies with big plans to go online have cut back and delayed implementation.
Chief executive Bob Beech said Digineer has seen potential clients taking longer to make decisions. He said Digineer needs to work with greater sophistication for much larger clients.
The company is cutting back on its professional services area, which provides software consulting and custom design for clients. Digineer is emphasizing development of proprietary software products.
Digineer secured $20 million in venture funding in April 2000, and in December moved into a new headquarters building.
Mr. Beech said the bulk of the $20 million is still in the bank. New products should be unveiled soon, he said.
'Steel crisis' at Wilder site
Fed keeps calm while consumers sweat
Fed's timing defended
1-year T-bill death won't hurt ARMs
Enquirer Portfolio Panel
Panel members share their top stock picks
HIGGINS: Personal Finance
Animal slaughter 'purely about trade'
Digineer cuts 19 of 131 jobs
E-toys: Fast plunge into bankruptcy
Japan's economy sinking rapidly
The Sophisticated Investor
UPS to buy shipper
Your tax questions
Your Taxes
Business Digest
Tristate Business Summary
What's the Buzz?