Software firm's new parent company cuts 199 jobs in Raleigh days after acquisition [Yahoo! Finance]
Progress Software Corporation (PRGS)
Last progress software corporation earnings: 3/26 04:15 pm
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Source: Yahoo! Finance
Massachusetts-based Progress Software Corp. informed the North Carolina Commerce Department on Tuesday it intends to cut 199 positions at ShareFile's main office on Hillsborough Street. These layoffs will be made in phases, Progress said, with most occurring in January or February but continuing through next June. Federal law requires companies to file WARN Notices at least two months before conducting mass layoffs. Progress submitted its notification on Nov. 5, within a week of purchasing ShareFile from Cloud Software Group for $875 million. “Progress acquired the ShareFile business from Cloud Software Group because we value the business and culture that they have created,” Progress spokesperson Erica McShane said in an email to The News & Observer. “To continue this success and integrate the business into Progress, we had to make some difficult decisions about the go-forward organization, which means not everyone will be able to stay with Progress long-term.” ShareFile has be
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News
- Progress ShareFile Selected as the Latest Addition to the American Institute of CPAs (AICPA) Member Discount Program, Offering Benefits for AICPA Members [Yahoo! Finance]Yahoo! Finance
- Progress ShareFile Selected as the Latest Addition to the American Institute of CPAs (AICPA) Member Discount Program, Offering Benefits for AICPA MembersGlobeNewswire
- Hackers are exploiting a flaw in popular file-transfer tools to launch mass hacks, again [TechCrunch]TechCrunch
- Investors in Progress Software (NASDAQ:PRGS) have seen decent returns of 77% over the past five years [Yahoo! Finance]Yahoo! Finance
- M-Files Appoints Jay Bhatt as CEO [Yahoo! Finance]Yahoo! Finance
PRGS
Earnings
- 9/24/24 - Beat
PRGS
Sec Filings
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- PRGS's page on the SEC website