Friday, June 1, 2012

Rivet Software Severely Chops Staff

Denver-based Rivet Software, which develops XBRL filing software used by companies for public filings, quietly let go of half of its staff, according to a report. Citing "employees familiar with the situation", 9News said Rivet laid off 150 people in Denver, plus another 400 in India. The cuts apparently came due to loss of a partnership with commercial printer RR Donnelley. Rivet Software had, until recently, been in an aggressive hiring mode, and had been trumpeting the number of open positions at the firm just last year.