PurchaseSoft cuts work force by half; seeks last-chance financing

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Westborough, Mass.--B-to-b procurement software developer PurchaseSoft Inc. has fired 25 employees, or half its work force. The company, whose clients include Toys ‘R’ Us Corp., is seeking last-chance financing to keep afloat. If it does not secure financing by Dec. 31 it will go out of business, according to a company press release.
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