Verity to restructure operations, staff

In a move to focus its efforts and stabilize the company, Verity (Sunnyvale, CA) has announced a restructuring of its worldwide operations. At the heart of the move is a redeployment of the company's development resources to OEM and knowledge retrieval projects. It became clear, according to CEO Gary Sbona, that Verity "needed focus, and that its efforts were being diluted by too many markets and products." The move also includes a 15% worldwide staff reduction, relocation of customer support operations, and consolidation of Verity's worldwide sales and marketing groups. Casualties of the restructuring include James Freeman, VP of Customer Services, and David Weld, president of Verity's Application Business Unit. CFO Donald McCauley resigned on October 13. "By taking these actions," Sbona said, "Verity will concentrate on its key markets and products."

Verity: http://www.verity.com