Art Technology Group said Thursday it will lay off 12 percent of its staff to trim costs. The company, which makes software for developing Web applications, said last week that it would post an unexpected loss in the first quarter because of its failure to close several large deals by quarter's end. The job cuts, which will affect around 150 people, will force the company to take an unspecified charge in the second quarter related to severance plans and other expenses.
Art Technology is working to bring expenses more in line with revenue and get back to profitability, CEO Jeet Singh said in a news release. Singh said the company would give more details about its cost-cutting plan when it releases results on April 26.