Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

DSGX Fate Presages MSTR- Enterprise Software Biz Struggles

Descartes: I Think Therefore I Was
Monday May 17,
TORONTO (Reuters) - Software company Descartes Systems Group Inc. (DSG) said on Monday it will cut 35 percent of its work force and book a restructuring charge of between $5.5 million and $6.5 million. The Waterloo, Ontario-based firm, whose supply chain management software connects shippers, carriers and logistics companies, said the restructuring will eliminate 130 jobs, close several offices, and cancel leases, consulting and other operating contracts. The majority of the charge will be recorded in its second-quarter results, Descartes said in a release. The company said starting in the third quarter it expects the job cuts to reduce its quarterly expenses by about $7 million. Descartes said it expects the job cuts will require a cash expenditure of between $5.5 million and $6.5 million, with $3.5 million to $4 million being used in the second quarter.