Borland announced today that it will layoff 300 workers—or 30% of its workforce—today, in a bid to return to profitibility by April. Borland CEO Delbert Yocam said the layoffs will save the company US$30 million in annual operating costs. The cost of the layoffs will be reflected in a US$24-30 million restructuring charge this quarter.

Another interesting cost-cutting maneuver has Borland dropping print advertising and focusing on lower-cost Web ads. Also in the pipeline is Delphi 3.0, due next quarter. Borland expects to release a major new product every quarter this year.

I must admit that I have a soft spot for Borland and this is grave news. Their products have consistently bested competing products from Microsoft at a technical level, though sales have fallen dramatically in recent years. Hopefully, these drastic measures will return a once-great company to new-found prominence.