Silverstream Software trims workforce by 20 percent

BILLERICA — Silverstream Software announced that it was firing 20 percent of its workforce in order to offset a drop of more than 50 percent in revenue. The company specializes in software for corporate Web sites employed about 600 people by the end of last year. The 20 percent cut involved about 120 operational employees in the United States and overseas, the company told the Boston Globe. The revenue reduction is attributed to companies cutting back on Web site expenditures as the economy has soured.