PWR, page-5

Don't know about the share price (currently, @20.5c), but the sentiment is all negative for the time being.

As for any news, today's story from ZD News (see below) is negative if ever there was anything to go by (ie: closing the Canberra branch office when the federal Government is the largest source of IT expenditure in the country).


ZD's NEWS STORY APPEARS, BELOW:
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Powerlan closes Canberra branch

By Rachel Lebihan, ZDNet Australia
26 April 2002

IT services provider Powerlan has shut up shop in Canberra, pushing some staff out of the door with just a two-week redundancy package.

Describing itself on its Web site as a “1200-strong Australian success story”, about 15 Canberra-based staff -- given notice about two weeks ago -- will be affected by the downsizing and a handful of staff are said to be boxing up their personal belongings today, according to one retrenched employee.

“I’m really annoyed. Two weeks notice is just not good enough,” the now-redundant worker said. “They’re screwing people around and that’s just not on.”

“It’s been indicated to us that Sydney is going to be next, and Brisbane after that,” the disgruntled worker added.

Powerlan Asia-Pacific manager, Chris Black, confirmed that the company was “running the branch down” but would not comment on what lay in store for workers based in the company’s Sydney and Brisbane offices.

“The branch is a lot smaller than it was in its hey-day,” Black said, adding that about six staff had already left and another half a dozen or so would be on hand to wind down operations by the end of July or August.

“We have some obligations to customers and existing contracts,” he said, adding that some customers would continue to be served from other offices. When asked how many contracts will be finished off, Black said: “I don’t think that needs to be quantified”.

When asked to confirm how much notice staff had been given, Black said it varied according to contractual requirements. “We have tried to treat people with respect,” he said.

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