TIBCO Software Announces Actions to Reduce Expenses

Apr 20, 2001, 01:00 ET from TIBCO Software Inc.

    PALO ALTO, Calif., April 20 /PRNewswire Interactive News Release/ --
 TIBCO Software Inc. (Nasdaq: TIBX), a leading provider of real-time
 infrastructure software for e-business, announced today that due primarily to
 the slowing economy, the company plans to reduce its workforce by
 approximately 15 percent, or 200 workers, which includes 50 contract workers.
 TIBCO is also reducing executive salaries and costs relating to travel,
 hiring, recruiting, consultants and facilities expansion.
     In connection with the workforce reduction, TIBCO plans to take a one-time
 charge in its second fiscal quarter of approximately $6 million to $9 million.
     "During our last earnings conference call, we said it is a time for
 leaders to lead and to take whatever actions are necessary to emerge from the
 economic downturn even stronger than before. We are doing that," said Vivek
 Ranadive, chairman and CEO of TIBCO Software Inc. "We remain confident about
 our long-term vision and business strategy and the growth opportunities in our
 industry."
 
     About TIBCO Software Inc.
     TIBCO Software(TM) Inc. is a leading provider of total business
 integration solutions -- delivering infrastructure software that enables
 companies to seamlessly integrate business systems in real-time. TIBCO's
 products enable the real-time distribution of information through patented
 technology called The Information Bus(TM), or TIB(R). TIBCO technology was
 first used to digitize Wall Street and has since been adopted in diverse
 industries including financial services, telecommunications, electronic
 commerce, transportation, logistics, manufacturing and energy. TIBCO's global
 customer base includes more than 1,000 customers such as Cisco Systems,
 Yahoo!, Ariba, NEC, Enron, Sun Microsystems, GE Capital, Philips, AT&T,
 Pirelli and AOL/Netscape. Headquartered in Palo Alto, California, TIBCO can be
 reached at 650-846-1000 or on the web at www.tibco.com.
     NOTE:  TIBCO, TIBCO Software, TIBCO ActiveEnterprise, TIBCO
 ActiveExchange, TIBCO ActivePortal, TIBCO Extensibility, The Information Bus
 and TIB are trademarks or registered trademarks of TIBCO Software Inc.
 
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SOURCE TIBCO Software Inc.
    PALO ALTO, Calif., April 20 /PRNewswire Interactive News Release/ --
 TIBCO Software Inc. (Nasdaq: TIBX), a leading provider of real-time
 infrastructure software for e-business, announced today that due primarily to
 the slowing economy, the company plans to reduce its workforce by
 approximately 15 percent, or 200 workers, which includes 50 contract workers.
 TIBCO is also reducing executive salaries and costs relating to travel,
 hiring, recruiting, consultants and facilities expansion.
     In connection with the workforce reduction, TIBCO plans to take a one-time
 charge in its second fiscal quarter of approximately $6 million to $9 million.
     "During our last earnings conference call, we said it is a time for
 leaders to lead and to take whatever actions are necessary to emerge from the
 economic downturn even stronger than before. We are doing that," said Vivek
 Ranadive, chairman and CEO of TIBCO Software Inc. "We remain confident about
 our long-term vision and business strategy and the growth opportunities in our
 industry."
 
     About TIBCO Software Inc.
     TIBCO Software(TM) Inc. is a leading provider of total business
 integration solutions -- delivering infrastructure software that enables
 companies to seamlessly integrate business systems in real-time. TIBCO's
 products enable the real-time distribution of information through patented
 technology called The Information Bus(TM), or TIB(R). TIBCO technology was
 first used to digitize Wall Street and has since been adopted in diverse
 industries including financial services, telecommunications, electronic
 commerce, transportation, logistics, manufacturing and energy. TIBCO's global
 customer base includes more than 1,000 customers such as Cisco Systems,
 Yahoo!, Ariba, NEC, Enron, Sun Microsystems, GE Capital, Philips, AT&T,
 Pirelli and AOL/Netscape. Headquartered in Palo Alto, California, TIBCO can be
 reached at 650-846-1000 or on the web at www.tibco.com.
     NOTE:  TIBCO, TIBCO Software, TIBCO ActiveEnterprise, TIBCO
 ActiveExchange, TIBCO ActivePortal, TIBCO Extensibility, The Information Bus
 and TIB are trademarks or registered trademarks of TIBCO Software Inc.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X36568140
 
 SOURCE  TIBCO Software Inc.