TIBCO (TIBX) Denies Mass Layoffs, Shares Rebound

After trading down over 10 percent earlier on an analyst research report suggesting mass layoffs were on the way, TIBCO Software (Nasdaq: TIBX) has done a complete reversal mid-day and briefly traded near the flat line after denying any layoff plans.

In a mid-day statement the company said:
Third party research on TIBCO Software Inc. has been released recently that indicate TIBCO is planning for or has recently undertaken a major reduction in force. TIBCO did not engage in such an action, or incur any related restructuring charge, in its third fiscal quarter and is not currently contemplating such an action.

In its downgrade of the company today, Think Equity said the company was planning layoffs that could hamper growth an execution.

Share of TIBCO last traded at $31.26, up 3.2 percent.

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