SkillSoft (SKIL) plans to lay off approximately 120 employees "in various business units throughout the company." The firm said the decision came after an analysis of several cost savings initiatives as it developed its budget and operating plan for the fiscal year ending Jan. 31, 2010, with the intention of reducing salary and bonus costs by $7.5 million in fiscal 2010 as compared to fiscal 2009. A Canadian newspaper, citing anonymous employee sources, reported that the layoffs affected SkillSoft's offices in Fredericton, New Brunswick and Scottsdale, Ariz. SkillSoft has nine offices worldwide.
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|Title Annotation:||The Bottom Line|
|Publication:||New Hampshire Business Review|
|Article Type:||Brief article|
|Date:||Jan 30, 2009|
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