WESTBOROUGH, Mass., Feb. 8 /PRNewswire/ -- Peritus Software Services, Inc.
(OTC: PTUS.OB), a provider of solutions for software maintenance technology
and services, today announced that the Company is reducing its workforce
effective February 23, 2001, resulting in a loss of nine employees. "This is
a very difficult decision but the Company needs to better align its costs with
anticipated revenues for 2001," said John Giordano, President and CEO. As
previously announced, the Company continues to engage The Catalyst Group, LLC
to render financial advisory and investment banking services in connection
with exploring strategic alternatives including the potential sale of the
Company.
About Peritus
Founded in 1991, Peritus Software Services, Inc. offers products and
services that enable organizations to improve the productivity, effectiveness
and quality of the software evolution process. The Peritus Software Asset
Maintenance (SAM) offerings enable organizations to transform the maintenance
process into an efficient, cost-effective discipline that boosts productivity
and performance.
This press release may contain certain forward-looking statements, which
involve risks and uncertainties. From time to time, the Company may provide
oral and or written forward-looking statements in other materials it releases
to the public. The Company does not assume any obligation to update any of
the forward-looking statements it makes.
Peritus is a registered trademark of Peritus Software Services, Inc.
SOURCE Peritus Software Services, Inc
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Related links:
http://www.peritus.com
Company News On-Call:
http://www.prnewswire.com/comp/123089.html or fax,
800-758-5804, ext. 123089
CONTACT:
Ronald C. Garabedian, Vice President and
Treasurer of Peritus Software Services, Inc., 508-870-0963,
rgarabedian@peritus.com
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