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News > Technology
Netscape could cut 400 jobs
January 13, 1998: 9:07 p.m. ET

Layoffs are casualties of browser war with arch-rival Microsoft
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NEW YORK (CNNfn) - Netscape Communications Corp., which is in the midst of a bruising battle with arch-rival Microsoft Corp., could cut as many as 400 jobs from its payroll as part of a broad restructuring plan.
     The Mountain View, Calif.-based software firm expects to finalize its plans on Jan. 27, but a spokeswoman for Netscape told CNNfn as many as 400 contract and full-time employees -- representing 12.5 percent of its worldwide staff -- could receive pink slips. Netscape employs about 3,200 workers, including 2,600 full-time staffers.
     News of the layoffs follows Netscape's stunning announcement earlier this month that the company would post a fourth-quarter loss of $85 million to $89 million, or 15 cents to 19 cents a share. Wall Street, which had grown accustomed to positive surprises from Netscape, had been expecting the company to report a profit of 14 cents.
     Netscape (NSCP) exploded onto the market in 1995 as the premier web browser supplier. However, in recent months, the company has faced a relentless assault from Microsoft [MSFT}, which has wrestled some of the browser business away by offering its Internet Explorer browser for free. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

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Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.