Delano cutting jobs; CEO, president resign

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Wednesday, July 4, 2001

Delano Technology Corp. is cutting 180 jobs, or 60 per cent of its work
force, to rein in costs as its revenue falls and losses mount, the company
said yesterday. The Markham, Ont.-based software company said it will
have a loss of between 30 and 35 cents a share, but had $20-million in cash
as of June 30. Delano also announced the resignation of chief executive
officer John Foresi, president David Frankland and vice-president of
marketing Ellen Olson.
2001-7-4 -04:00
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