Corel employees take blow as revenues hit

OTTAWA – Senior executives of Ottawa Corel-logo-125X22.JPGsoftware developer Corel Corp. will take a 10% pay cut and all employees will be given five days of unpaid leave in response to sagging revenues. The company expects the salary rollbacks and unpaid time off will reduce costs by $2 million in the current quarter. Interim CEO Kris Hagerman says the company will emerge from this difficult period financially sound and in a stronger market position. Click here for Corel’s latest financial report.

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