Baltimore to slash 400 jobs as pounds 18m loss is revealed

The Independent - London | August 19, 2001| | Copyright

Baltimore Technologies, once the great hope of the British technology industry, will this week make up to 400 people redundant and unveil plans to restructure its business.

The announcement will come on Wednesday when Baltimore is expected to reveal a half-year pre-tax loss of pounds 18m, which will raise questions about the company's long-term finances.

The news marks the sorry decline of what is still Europe's largest computer- security software maker. In March 2000, Baltimore was a FTSE 100 company with a market capitalisation of pounds 13bn. Today it is worth just pounds 115m, as the ...

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