Sage North America announced 500 job cuts as the accounting software developer's U.K. parent company posted revenue declines.
Sage, which develops the Peachtree, Accpac, Act, MAS, FAS and SalesLogix lines of software, said that the 500 cut positions included both employees leaving and open positions that will remain unfilled.
The Sage Group plc reported global revenues of $1.11 billion for the half-year ended March 31, 2009, and earnings before interest, taxes and amortization of $249.2 million, representing 3 percent and 6 percent decreases, respectively, over the same prior-year period, at constant exchange rates.
Sage North America's revenue for the half-year was $450.5 million, and EBITA was $79.0 million, 9 percent decreases over the prior-year period.
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