As part of an overall streamlining strategy, Entrust Inc., an
Internet-security firm with ties to the cable industry, said Monday that it
would hand out pink slips to about 400 employees, representing about 30 percent
of its work force.
Entrust said it would absorb a $400 million charge in the second quarter to
cover office closings and severance packages.
The company also announced several branding changes, dropping 'Technologies'
from its original name and touting a new corporate tag line, 'Securing the
Entrust announced the moves in concert with a revised business model and
product direction designed to make the company 'more competitive, agile and
responsive in the market, while accelerating our return to profitability.'
The company also said Entrust New Ventures Group president Alberto Yepez is
leaving 'active management' but staying on the company's board and as an Entrust
As part of that strategy, the company added that it will dedicate resources
to building a base of original-equipment-manufacturing partners.
On the cable-modem front, Entrust has a security agreement with Thomson
VeriSign Inc., an Entrust rival, was tapped in January as Cable Television
Laboratories Inc.'s root-certificate authority to handle the digital
certificates used to shield cable modems from hackers.
VeriSign also has cable-modem-security deals with 3Com Corp., Toshiba America
Information Systems Inc. and Terayon Communication Systems