Software maker IPS laying off staff, cutting spending

Article Abstract:

Image Processing Systems Inc. (IPS) will lay off 15% of its workforce to reduce its spending by 25%, in an effort to balance its expenses with the reduced demand from Asia. IPS Chairman and President Terry Graham said the cuts will affect the entire firm but will not hurt its research and development projects. Company Chief Financial Officer Arthur Stern, who submitted his resignation on July 31, 1998, will join those leaving the firm that listed a loss of C$12.2 million in the past fiscal year despite increased revenue.

Comment:

Will lay off 15% of its workforce to reduce its spending by 25%, in an effort to balance its expenses

Computer Software, Software Publishers, Labor force information, Software, Article, Image Processing Systems Inc.

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A little country, a little high tech

Article Abstract:

The Statistics Canada census data of 1996 showed the speedy growth of the suburbs. Topping the list was Blainville, Quebec, which saw its population grew by 30.5% since 1991. In contrast, 93% of new immigrants between 1991 and 1996 settled in one of the country urban areas, particularly in Toronto, Vancouver or Montreal. The census showed that 85% of all immigrants lived in an urban area, compared with only 57% of Canadian-born population.

Population

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Laundering bill questioned by MPs

Article Abstract:

Proposed money laundering legislation is being studied by a committee in Canada's House of Commons. The new law, which will provide 12 guidelines for financial institutions, is being designed to cope with country's increasing crisis in illicit funds.

Government domestic functions, Police Protection, Fraud, Laws, regulations and rules, Money laundering

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