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Compaq plans to cut 4,000 more jobsCompaq By MARK BABINECK, Associated Press
HOUSTON (July 11, 2001 10:03 a.m. EDT) - Compaq Computer Corp. hoped natural attrition would allow it to trim 2,500 jobs - in addition to 4,500 layoffs - when it announced it was restructuring earlier this year.
But a sour economy, particularly in the tech sector, meant Compaq workers had no place to go. So the Houston-based computer maker said Tuesday it will terminate 4,000 more workers instead.
"Given the weak worldwide economy, our attrition has been lower than expected, so we have accelerated the process by including these positions in the latest charge," Compaq chief financial officer Jeff Clarke said.
Compaq will take a restructuring charge of about $490 million in the second quarter, which it said was mostly related to job cuts. The company is expected to save $900 million annually from the total reduction of 8,500 jobs, approximately 12 percent of the work force in early 2001.
So far, Compaq has laid off 3,500 workers from the initial round of cuts. Clarke said the remaining 1,000 terminations from the first wave mostly will come in Houston and Erskine, Scotland.
Along with the job cuts, Compaq announced it will meet Wall Street's second-quarter expected earnings of 4 cents per share but will bring in only $8.4 billion in revenue, short of a projected $9 billion and a 17 percent plunge from $10.13 billion in the year-ago quarter.
The computer maker blamed worsening economic conditions and intensifying price wars in Europe, particularly in the United Kingdom, Germany and Switzerland. Lehman Brothers analyst Daniel Niles said Compaq's news, following warnings from chip maker Advanced Micro Devices Inc. and storage giant EMC, is troubling.
"You hear from EMC, AMD and now Compaq, and it starts to call into question a second-half (economic) recovery," Niles said.
Niles said Compaq's announcement boded much worse for the overall economy, and tech companies in particular, than for the company itself.
"In some senses Compaq's results aren't so bad, and the bottom line is coming in pretty much where it was guided to," Niles said. "(Chairman and chief executive officer) Michael Capellas is doing a pretty good job of managing a company in one of the most horrific environments."
Like the previous cuts, Clarke said the additional terminations are expected in Compaq's personal computer business, supply chain operations and administration.
Clarke added that Compaq is keeping up with competitors' cutthroat pricing of products, which began domestically but has spread abroad. A.G. Edwards & Sons Inc. analyst Brett Miller said there is no price war, but Dell Computer Corp. hurts Compaq because it can translate lower costs into lower prices faster.
"I think overall it sounds like the market is bad, it's tough, but pricing wasn't any different (last quarter) aggressiveness-wise."
Compaq is scheduled to reveal complete second-quarter results after the market closes July 25.
Shares of Compaq fell 44 cents to $13.76 in trading Tuesday on the New York Stock Exchange, but rose to $14.20 in after-hours trading
http://www.newshub.com/cgibin/rd.cgi?10898258
-- Martin Thompson (mthom1927@aol.com), July 11, 2001
July 12, 2001 HomeLife Furniture Corp closed all of it's 133 stores. Filing Chapter 11 bankruptcy.
-- Paul (skypilot99@aol.com), July 12, 2001.
"DOW JONES TRIMS 150 MORE STAFFERS: The publisher of the Wall Street Journal will lay off another 150 employees today as part of an ongoing effort to slash costs. The company laid off 16 editorial staffers on Monday following an earlier round of 225 cuts in April..."(New York Post, 12 July 2001 -- http://www.nypostonline.com/business/34669.htm)
-- Andre Weltman (aweltman@state.pa.us), July 12, 2001.
"Psion shelves launch of Bluetooth-enabled products; 250 jobs cut: Handheld computer maker Psion PLC on Wednesday pushed back the highly anticipated launch of products powered by an advanced technology called Bluetooth and cut 250 jobs, or about 2 percent of its overall work force... The London-based company said the job cuts from its work force of 1,300 people are part of a restructuring..."Associated Press via Minneapolis Star-Tribune, 11 July 2001 (http://24hour.startribune.com/24hour/technology/story/625483p- 669912c.html)
-- Andre Weltman (aweltman@state.pa.us), July 12, 2001.
July 12, 2001 Women.com will be shut down soonJuly 12, 2001 DoubleClick laying off soon.
July 12, 2001 Polaroid $45 million in debt. May file bankruptcy or sell.
July 12, 2001 Onvia another round of layoffs.
July 12, 2001 Xdrive.com may layoff 85%.
July 12, 2001 Red Sky closing Atlanta office end of July, layoff 30.
July 12, 2001 Pacheco laying off 100.
-- Paul (skypilot99@aol.com), July 12, 2001.
July 12, 2001 DoubleClick laying off soon.Does this mean less ads?
Hope so.
-- (perry@ofuzzy1.com), July 12, 2001.
FLORENCE, Ala. (AP) -- Tee Jays Manufacturing Co., which produces T- shirts and other sportswear, said it would close its sewing operations in September, idling 660 workers.
-- Martin Thompson (mthom1927@aol.com), July 12, 2001.
July 12, 2001Motorola warns losses will continue, cuts another 4,000 jobs
CHICAGO (AP) -- Motorola Inc.'s push to cut costs and dig out of a deep slump claimed 4,000 more jobs Thursday while also providing investors with new hope that its long-troubled cellular phone business may be edging toward recovery.
-- Martin Thompson (mthom1927@aol.com), July 12, 2001.
International Paper to cut production and more jobs Thursday July 12, 4:09 PM EDTSTAMFORD, Conn., July 12 (Reuters) - International Paper Inc. (IP), the world's No. 1 forestry products company, on Thursday said it would curtail production and slash 655 more jobs -- two weeks after saying it would cut 3,000 workers -- as the strong dollar undercuts results and demand softens.
"The strong dollar has continuously weakened our export business in containerboard, while increasing imports of coated paper," International Paper Chairman and Chief Executive Officer John Dillon said in a statement.
-- Martin Thompson (mthom1927@aol.com), July 12, 2001.
Williams Lake, B.C. - Two hundred and fifty people will lose their jobs when a gold and copper mine in B.C.'s central interior shuts down on September 30.Imperial Metal's Mount Polley mine is suspending operations because of low metal prices.
-- Martin Thompson (mthom1927@aol.com), July 13, 2001.
NatSteel to announce low profits, job cutsSingapore Ð NatSteel, a Singapore steelmaker, said that it will report a loss for the half-year ended June and is cutting jobs and production capacity as the result of falling demand in the construction industry and costs rise.
The company said it will fire 125 employees, or 19 percent of its workforce, at its steel plant and will take a S$130 million (US$71 million) charge to cut output capacity by 35 percent.
-- Martin Thompson (mthom1927@aol.com), July 13, 2001.
July 13, 2001 Lucent & Motorola announce "MORE" layoffs. This is either 2nd or even 3rd round of layoffs for some companies now. Does anyone remember TOTAL layoffs this makes for Motorola now?July 13, 2001 Earl Sheib closing 26% of his car painting shops. Laying off 328.
July 13, 2001 Sears closing Provo, Utah store. Laying off 365.
July 13, 2001 Great Lakes Chemical laying off 390.
-- Paul (skypilot99@aol.com), July 13, 2001.
International Paper layoffs affect felt in Georgia.The International Paper Co. of the future has to be a leaner, more efficient and profitable company.
To accomplish this, company officials announced another round of machine shutdowns and job cuts Thursday, increasing to 290 the total number of IP jobs lost in Savannah since March. In recent months, the trouble-plagued wood products industry and related businesses have shed more than 500 jobs here.
-- Doris (nocents@bellsouth.net), July 13, 2001.
The Maine Bureau of Labor Standards is looking into questions from Vishay Sprague employees concerning severance pay and other benefits that may be due when layoffs begin Aug. 14.The firm, which manufactures capacitors used in cellular phones and computers, told workers earlier this year that it would lay off 445 employees from mid-August to March, 2002. Current plans are to have research and development and some other personnel remain in Sanford, though Vishay officials have not determined at this point just how many employees will remain with the company.
The layoffs beginning in August will be the second round this year. An estimated 320 employees were let go in a downsizing which ended April 23.
-- Doris (nocents@bellsouth.net), July 13, 2001.
- Medscape to Cut 100 Jobs - AP (Jul 13, 2001)- Fidelity Investments Cut 160 Jobs - AP (Jul 13, 2001) - Safeco to cut more workers - Seattle Post-Intelligencer (Jul 13, 2001)
- 4,000 more jobs to go at Motorola - Chicago Tribune (Jul 13, 2001) - Fidelity Cuts 160 Jobs in Broker Services - Reuters (Jul 13, 2001) - Consignia to axe 2,100 jobs - BBC (Jul 13, 2001)
- Microlog To Lay Off A Fifth of Its Workforce - Washington Post (Jul 13, 2001)
- Online Grocer HomeRuns.com Folds - AP (Jul 12, 2001) - Lucent Says More Job Cuts Coming - AP (Jul 12, 2001) - Sears Closing Provo Call Center - AP (Jul 12, 2001)
- Internat'l Paper to Cut Production, Jobs - Reuters (Jul 12, 2001) - Motorola cuts 4,000 more jobs - CBC (Jul 12, 2001)
- Lucent Says More Than 8,500 Workers Took Buyout - Reuters (Jul 12, 2001)
-- CAkidd (CAkidd_94520@yahoo.com), July 14, 2001.
July 14, 2001 Mexico's Vitro laying off 1120 managers. (awww. ya mean it happens to management too?)July 14, 2001 United Microelectronics laying off 256.
-- Paul (skypilot99@aol.com), July 14, 2001.
July 16, 2001 PhotoPoint.com closed.
-- Paul (skypilot99@aol.com), July 16, 2001.
Power plant plans to cut 100 workersBy KELLY JOSEPHSEN Pantagraph staff CLINTON -- The Clinton nuclear power plant's work force could drop by another 100 employees in the future -- leaving it with little more than half the employees it had when Illinois Power sold it in December 1999 -- but officials say that won't hamper a strong safety record.
A month ago, plant owner Exelon Generation Co. announced 292 statewide cuts that affected five of its six Illinois plants. Clinton was the exception
-- Martin Thompson (mthom1927@aol.com), July 16, 2001.
July 17, 2001 Alcatel ANOTHER 250 layoffs in Britain announced in addition to thousands last week in America.
-- Paul (skypilot99@aol.com), July 17, 2001.
July 17, 2001 Coca Cola laying off 2000.
-- Paul (skypilot99@aol.com), July 17, 2001.
July 17, 2001 Tellme laying off 65 or 25%.July 17, 2001 The Gap may layoff around 7%
July 17, 2001 Comdisco sold Technology Services divisions, filed for Chapter 11 & laid off 200 employees.
July 17, 2001 eRegister.com closed.
July 17, 2001 Rebel.com closed. Fired 130 in Ottawa, Canada.
July 17, 2001 Cooking.com close to closing.
July 17, 2001 HomeRuns.com closed.
July 17, 2001 McKinsey Consulting issued capital call -- 850 partners asked to contribute $50,000 to $200,000 to keep the company going.
-- Paul (skypilot99@aol.com), July 17, 2001.
July 18, 2001 America Express laying off 5000.July 18, 2001 Quickdot.com closed.
July 18, 2001 Empori.com closed.
-- Paul (skypilot99@aol.com), July 18, 2001.
Wednesday, July 18, 2001 BOCA RATON, FL -- Artesyn Technologies Inc. (Nasdaq: ATSN, $13) Tuesday said it would cut 1,800 jobs as a result of a slowdown in sales.
07/18/01 TN - After 72 years, the Dyersburg Fabrics plant will essentially close by the end of August, leaving just more than 900 workers jobless - with no severance packages - and ending an era in the city with which it shares a name.
-- Doris (nocents@bellsouth.net), July 18, 2001.
Europe's biggest consumer electronics company has reported a massive loss and says it does not expect a turnaround in semiconductor market until 2002. Philips reported a 770m euro ($658m, £470m) second quarter loss, compared to a profit of 3.6bn euros in the same period last year.Defying its motto of 'Let's make things better', the Dutch company's results were much worse than analysts expectations.
For workers at Philips there is more bad news. The company expects to cut 4,500 to 5,500 jobs, or 3% of its work force, in its semiconductor unit in the second half of the year.
-- Martin Thompson (mthom1927@aol.com), July 19, 2001.
July 19, 2001 Albertson's supermarket closing 165 stores in 25 states. About 1600 employees will be fired. Eliminating 20% of managerial & administrative jobs above store level. Albertson's has 235,000 employeesJuly 19, 2001 Avaya cutting 348.
July 19, 2001 ASML cutting 10%..
-- Paul (skypilot99@aol.com), July 19, 2001.
July 19, 2001 PlanetOut.com (gay site) is laying off 12 people.
-- Paul (skypilot99@aol.com), July 19, 2001.
MURRAY HILL, N.J., July 18 (Reuters) - Financial information publisher Dun & Bradstreet Corp. on Wednesday announced 400 new job cuts as it reported higher second-quarter profits, boosted by its ongoing cost-cutting plan.NC - Southern Furniture to close E'town manufacturing plant Bladen County will soon lose another 60 jobs-this time at Southern Furniture Reproductions in Elizabethtown.
MD - Entrenched in an industry that has cut back drastically on orders for new parts, Millersville-based Gould Fiber Optics has laid off about 50 workers. The employees released Friday represent about 18 percent of the company's workforce, spokesman Cheryl Addison said. Most of the positions eliminated were manufacturing jobs.
MN - The falling economy is to blame for more than 20 layoffs at Clow Stamping Co. in Merrifield. The company stamps metals and fabricates metal components for original equipment manufacturers.
WA - SEATTLE (July 18, 2001 1:48 p.m. EDT) - Safeco plans to cut 1,200 jobs, or 10 percent of its staff, as part of a cost-cutting effort to make the insurance company more profitable. Safeco will cut 600 jobs this year, including 250 at its corporate headquarters in Seattle, and will lay off another 600 employees in 2002 and 2003, the company announced Wednesday.
Photo giant Eastman Kodak (nyse: EK - news - people) said it will dismiss 1,100, or 1.3% of its workers. These layoffs are scheduled for the third quarter and follow closely on the heels of 2,400 cuts made in the second quarter. The Rochester, N.Y.-based company reported earnings of 12 cents per share this quarter.
-- Doris (nocents@bellsouth.net), July 19, 2001.
July 19, 2001 Northwest Airlines laying off 1500.The layoff announcements Doris posted by Kodak. This is 2nd round for them and I believe Safeco announcement is also second round of layoffs for them too. Just last week USAToday had an article about how many companies are having 2nd and even 3rd rounds of layoffs as I've mentioned some weeks ago. And yet, the stock market keeps climbing today for absolutely no reason!
-- Paul (skypilot99@aol.com), July 19, 2001.
July 20, 2001 Advanced Switching laying off 20%.July 20, 2001 W. R. Hambrecht fired 20%.
-- Paul (skypilot99@aol.com), July 20, 2001.
July 19, 2001 HUDSON, Ohio -- Another Ceveland-area based company is announcing job cuts.Jo-Ann Fabrics & Crafts is eliminating 55 jobs, which is eight- percent of their workforce.
Most will take place at the corporate headquarters in Hudson. The company blames the cuts on profit loss.
-- Martin Thompson (mthom1927@aol.com), July 20, 2001.
July 21, 2001 Microsoft may be shutting down the entire Central San Francisco office around August 1. Laying off 70.July 21, 2001 Accenture laying off 600 soon.
July 21, 2001 GreaterGood.com firing 32 employees. Chapter 11
July 21, 2001 iGo.com fired 43 employees. 119 left.
July 21, 2001 Storage Networks laid off 200.
-- Paul (skypilot99@aol.com), July 21, 2001.
Hastings plant layoffs to be take effect Aug. 10
---------------------------------------------------------------------- ---------- Last modified at 12:10 a.m. on Saturday, July 21, 2001 ---------------------------------------------------------------------- ---------- Top News on The Wire Headlines Link Guide National World Technology Business Health & Science
---------------------------------------------------------------------- ---------- Advertisement ---------------------------------------------------------------------- ---------- By Sandi S. Alswager salswager@theindependent.com HASTINGS -- A Hastings manufacturing plant is laying off 50 to 60 people after a slowdown in orders.
Thermo King Corp.'s Hastings plant makes temperature control equipment for semitrailer trucks and employs about 360 people.
-- Martin Thompson (mthom1927@aol.com), July 21, 2001.
LONDON (FTMW) - Reuters, the global news and financial data provider, is set to announce up to 1,000 job cuts when it reports second quarter earnings on Tuesday, according to a report in the Sunday Business.
-- Martin Thompson (mthom1927@aol.com), July 22, 2001.
PITTSBURGH (AP) Cutler-Hammer, an electrical equipment manufacturer, will begin laying off 550 employees Monday due to declining sales and a 43 percent drop in earnings. The Pittsburgh-based subsidiary of Eaton Corp. employs nearly 15,500 people worldwide, including 1,600 in western Pennsylvania. A memo to employees did not say where the jobs would be cut.
-- Martin Thompson (mthom1927@aol.com), July 22, 2001.
ALBUQUERQUE -- The remaining 170 employees at Furr's Supermarkets Inc. corporate headquarters will have to start looking for other jobs."Our corporate headquarters will be permanently closed," said the notice from Furr's President Steve Mortensen. "All positions and jobs at this facility will be eliminated."
-- Martin Thompson (mthom1927@aol.com), July 22, 2001.
July 23, 2001 Iomega firing 1,100 employees (one-third). Moving US operations from Utah to CaliforniaJuly 23, 2001 Gateway firing 1000. Lost $20.8 billion this quarter
July 23, 2001 Covad delisted from Nasdaq.
July 23, 2001 Interactive Week fired 13 editorial folks.
July 23, 2001 eCal, laid off half its staff
July 23, 2001 TalkPositive.com laid off the last web developer.
-- Paul (skypilot99@aol.com), July 23, 2001.
July 24, 2001 ABB laying off 12,000 in Britain.July 24, 2001 Avensis cutting workforce.
-- Paul (skypilot99@aol.com), July 24, 2001.
July 24, 2001 Lucent cutting another 15,000 to 20,000. This will make a total of 40,000 to 45,000 inlcluding 5500 contractors laid off since Jan.
-- Paul (skypilot99@aol.com), July 24, 2001.
July 24, 2001 RealNetworks laying off soon.July 24, 2001 DoubleClick laid off 500
July 24, 2001 OpenTable.com - 4th round of layoffs will happen this week
July 24, 2001 Rare Medium's N. Y. office closing this week or next.
July 24, 2001 LizardTech laying off 50% in August. Already taking voluntary layoffs.
July 24, 2001 Farmbid.com may be closing very soon.
July 24, 2001 Netegrity laid off 10%
July 24, 2001 Essential.com closed?
July 24, 2001 Extensity laid off 170 or 30%
July 24, 2001 iNEXTTV closed.
July 24, 2001 Futurelink closed.
July 24, 2001 Circle.com laid off more.
July 24, 2001 Styleclick closes LA offices, fires employees, moves to Chicago.
July 24, 2001 SuSE laid off 10%
July 24, 2001 CanBox laid off 200
July 24, 2001 GreaterGood.com fired 70 people.
-- Paul (skypilot99@aol.com), July 24, 2001.
You were right about Reuters, Martin. According to CBC,Worldwide information source and news provider Reuters is eliminating 11-hundred jobs over the next two years. The BBC reports the company said it would also jumpstart its cost effectiveness plans. Chief Executive Tom Glocer said, "We are establishing a new organization to focus intensively on our strategic goals and on our customers to drive future revenue growth." The move is one of the largest mass layoffs in the company's history, totaling nearly seven-percent of the company's workforce. The cuts trail an announcement earlier this year that 50 top managers would be laid off. The company also cited a surge in contract cancellations. Reuters employs 16-thousand-500 people.
Does this mean there'll be no more news?
-- Rachel Gibson (rgibson@hotmail.com), July 24, 2001.
I think they are trying put me out of work. Maybe have to make up the news.
-- Martin Thompson (mthom1927@aol.com), July 24, 2001.
7/24/01 2:28:00 PMNew York, July 24 (BridgeNews) - Arrow Electronics Inc. (ARW), the world's largest distributor of electronic components and computer products, said its second-quarter net income declined to $6.9 million, or 7 cents a share, from $83.9 million, or 84 cents a share. The results, however, beat analysts' estimate of 2 cents. Additionally, the company will cut 1,000 more jobs to mitigate the impact of the economic downturn in this extremely challenging environment.
-- Martin Thompson (mthom1927@aol.com), July 24, 2001.
SAN JOSE, Calif. (July 24, 2001 8:48 p.m. EDT) - Technology news provider CNet Networks Inc. said Tuesday it will cut approximately 300 jobs, or 15 percent of its work force, to cope with the slumping high-tech economy. The move follows a 10 percent reduction in February.
-- Martin Thompson (mthom1927@aol.com), July 24, 2001.
July 25, 2001 Fujitzu Don't remember anyone posting the 9000 jobs cut at fujitzu that Martin posted in other forum. I actually thought job cuts were tapering off the last week or so until last couple days.....July 25, 2001 Next50.com closed.
July 25, 2001 Organic (OGNC) laid off 80.
July 25, 2001 Eprise fired another 20%
July 25, 2001 X10 closing Closter, NJ Office and warehouse soon.
July 25, 2001 Commerce One going to lay off 20%
July 25, 2001 Audible.com laid off 40%.
July 25, 2001 Iridex laid off 20.
-- Paul (skypilot99@aol.com), July 25, 2001.
7/24/01 - MOBILE, Ala. (AP) -- International Paper Co.'s retail bag plant laid off most of its employees after its largest customer, J.C. Penney Co. Inc., recently switched from paper to plastic shopping bags. Eighty-five people lost their jobs Friday because the plant had finished producing the final order of rope-handled paper shopping bags.7/24/01 - WESTERLY, R.I. - More than 80 jobs will be lost when Guild Music closes its Westerly factory Aug. 30 and move operations to a high-tech factory in Corona, Calif.
7/25/01 - WI - Mercury Marine to cut 166 workers FOND DU LAC, Wis. (AP) -- Mercury Marine plans to lay off or fire 166 employees, including 140 in Wisconsin, as part of a restructuring to offset slumping demand for boats.
7/25/01 - WI - Snap-on to cut about 560 jobs as earnings drop KENOSHA, Wis. (AP) -- Toolmaker Snap-on Inc. will cut its staff by 4 percent worldwide in a cost-cutting move after earnings dropped in the second quarter because of declining sales in North America and Europe.
7/24/01 - ROCHESTER, Minn. (AP) -- Pink slips were given Tuesday to about 100 workers at the IBM plant here. The job cuts were part of a scaled-back effort in the plant' s largest hardware division.
-- Doris (nocents@bellsout.net), July 25, 2001.
July 26, 2001 Alcatel making 20,000 cuts... Don't know if this is in addition to previous announcements or if this is actual lay offs from previous announcements some months back.July 26, 2001 Infineon 5500 layoffs.
July 26, 2001 Siemens AG may announce more job cuts on top of 10,000 announced earlier this year.
July 26, 2001 Akzo Nobel NV - 2,000 job cuts worldwide.
-- Paul (skypilot99@aol.com), July 26, 2001.
July 26, 2001 McDonalds closing 250 restaurants. Anyone else hear this for confirmation? Sounds so untrue..but yet..they have had dismal earnings in England cause of Mad Cow, etc.......
-- Paul (skypilot99@aol.com), July 26, 2001.
July 26, 2001 eSave.com may be closed down.July 26, 2001 TechieGold.com laid off over 60 people in the past month.
July 26, 2001 Ziff-Davis shut down Zcast.tv today.
July 26, 2001 Etera files Chapter 11. Laid off eveyone.
July 26, 2001 Mediatrip.com appears to be closed.
July 26, 2001 Internet Security Systems laid off 160 people.
July 26, 2001 Drugstore.com laying off.
-- Paul (skypilot99@aol.com), July 26, 2001.
NEW YORK (CNNfn) - Computer and printer maker Hewlett-Packard warned Thursday that weaker-than-expected sales and profit margins in the current quarter would lead it to cut about 6,000 jobs worldwide.
-- Martin Thompson (mthom1927@aol.com), July 26, 2001.
MO - Payless Cashways Inc. is closing four of its 10 Kansas City area stores and is pulling completely out of Indiana, Kentucky and Minnesota. The Lee's Summit-based hardware retailer is closing 39 stores, leaving 77 locations and putting about 1,500 employees out of work.
-- Doris (nocents@bellsouth.net), July 26, 2001.
July 25 2001 18:43GMT | Last Updated: July 25 2001 18:48GMTAkzo Nobel, the Dutch drugs, paint and chemicals conglomerate, is to cut 2,000 jobs to counter a slump in income caused by high raw material prices and the economic downturn.
-- Martin Thompson (mthom1927@aol.com), July 26, 2001.
July 26, 2001 Brady Corp firing 150 or 4.7%, closing some plants.July 26, 2001 Tecumseh offering early retirement to 20% of workers. Says further restructering is "highly likely" including personnel reductions, plant closing or relocation to "lower cost areas" either domestic or "foreign."
July 26, 2001 M&I bank eliminating 100 jobs at National City bank after acquisition.
July 26, 2001 I2 Technology laying off 587 or 10% of workforce.
-- Paul (skypilot99@aol.com), July 26, 2001.
July 26, 2001 BroadVision laid off 225 to 300. They found out by article posted on Yahoo!July 26, 2001 OpenCola laid off half their developers & all Q&A people
July 26, 2001 USAA laid off 300 or 12%. First layoff in 70 years.
July 26, 2001 MrSwap.com closed.
July 26, 2001 DuPont's gonna fire 5500 instead of 1000.
July 26, 2001 internap laid off 18%
July 26, 2001 Rare Medium may be closing LA and SF offices soon.
July 26, 2001 Webley making big layoffs perhaps tomorrow.
July 26, 2001 Omnisky about to close their European operations.
July 26, 2001 Valicent laid off 14 to 20 or 8% to 10%
July 26, 2001 Hungersite.com closed.
-- Paul (skypilot99@aol.com), July 26, 2001.
The sale of a Minneapolis-based bank to a Milwaukee corporation means about 100 Minnesotans will lose their jobs. Shareholders quickly approved on Tuesday the sale of Minneapolis-based National City Bank to Milwaukee-based Marshall & Ilsley Corp.
Brady Corp. plans to fire 150 workers and close some of its plants in the face of a slowing domestic economy, the company said Wednesday. The Milwaukee-based company, which produces industrial signs, printing equipment and bar codes, said its fiscal fourth quarter and 2001 earnings will be less than estimated.
Scotts Co. (Lawn Care Products) is eliminating the positions of 123 salaried employees -- including 30 in central Ohio -- and accepting early retirement from 100 others as part of a company restructuring announced yesterday. The total reduction represents 10 percent of Scott's North American payroll, the company said. Scotts has 4,500 employees worldwide, including 1,000 in central Ohio.
-- Doris (nocents@bellsouth.net), July 26, 2001.
Layoffs at ThiokolA reduction in force at Thiokol Propulsions was announced recently. About 40 people will be notified of a layoff on July 30. The layoffs will reduce the duplication of effort as Thiokol Propulsions and Alliant combine to form a new company, ATK Thiokol Propulsion. The transition is expected to be complete in September, spokesman Melodie DeGuibert said. There will be another layoff in October of about 50 employees, with the time and numberof employees subject to change.
-- Martin Thompson (mthom1927@aol.com), July 27, 2001.
July 27, 2001 JDS Uniphase 7000 employees being cut. Again, this appears to be fresh layoffs and is 2nd or 3rd cut at JDS I believe.
-- Paul (skypilot99@aol.com), July 27, 2001.
JDS uniphase is now planning to increase those cuts to 16,000.JDS Uniphase Corp. (JDU.TO) said on Thursday that sagging sales and massive write-downs led to a $50.6 billion annual loss, probably the largest in North American corporate history, and announced plans to increase job cuts to 16,000. http://dailynews.yahoo.com/h/nm/20010726/bs/tech_jds_earns_dc_7.html
-- Tess (webwoman@iamit.com), July 27, 2001.
34 laid off by firm in Bozeman The Associated Press BOZEMAN, Mont. (AP) — ILX Lightwave laid off another 34 employees in Bozeman on Wednesday, plus an equal number in its Boulder, Colo., office.
-- Martin Thompson (mthom1927@aol.com), July 27, 2001.
TORONTO (CP) - A slower economy and stiff competition from large, entrenched competitors like Bell Canada and Telus (TSE TEL.B) have squeezed revenue growth at AT&T Canada and forced the company to cut almost 10 per cent of its national workforce.The Toronto-based telecom services provider announced Friday it will pare 500 jobs in the wake of a $192 million second-quarter loss and revenues that have ground to a standstill.
-- Martin Thompson (mthom1927@aol.com), July 28, 2001.
(Condensed from Martin's posting in other forum.July 28, 2001 The latest Israeli companies laying off: Jacada Ltd., Zoran Corporation, Omnisky Israel & Tecnomatix Technologies. Jacada fired 10% of its workforce, which numbers 225 worldwide in Israel & Atlanta, Georgia. Zoran is shutting down its Kfar Saba plant. Omnisky Israel fired 10%. Tecnomatix Technologies said they continue to "downsize."
-- Paul (skypilot99@aol.com), July 28, 2001.
InterNAP Network Services Corp. yesterday announced a $101 million private financing package, the departure of Chief Executive Tony Naughtin and layoffs of 130 employees, as the Seattle networking company attempts to position itself for profitability.
-- Martin Thompson (mthom1927@aol.com), July 29, 2001.
July 30, 2001 Real Networks laid off 140 or 15%.July 30, 2001 Scoot.com has 30 days cash left. Employes 1,900.
July 30, 2001 OurHouse.com fired 130 or 2/3rds of their staff. Closing shop in the next few weeks
July 30, 2001 Essential.com closed.
July 30, 2001 PC Magazine fired 13.
July 30, 2001 VerticalNet fired 400 people. Third layoff this year.
July 30, 2001 Autobytel "restructured" their European office. No one left in the office.
-- Paul (skypilot99@aol.com), July 30, 2001.
The Los Angeles Times, California's largest newspaper, plans to fire 1, 611 workers and shutter eight satellite offices in September.The cuts, which affect mostly part-time employees, were not disclosed publicly. They come as newspapers across the country are slashing expenses to cope with rising newsprint costs and falling advertising revenue.
-- Martin Thompson (mthom1927@aol.com), July 30, 2001.
July 31, 2001 NEC laying off 1000. Getting out of memory chip business.
-- Paul (skypilot99@aol.com), July 31, 2001.
July 31, 2001 Sun Microsystems laying off across the company. Internet Applicance Group was first with 100. CEO had previously said there would be no layoffs................ :(July 31, 2001 CDNow.com
July 31, 2001 iXL Enterprises, Inc apparently has "special" meeting with employees this morning.. Appears to be layoffs...
July 31, 2001 HearMe closed.
July 31, 2001 QuestionExchange.com closed.
July 31, 2001 SquareTrade fired 20% of their
July 31, 2001 Citrix fired 65 of 1000
July 31, 2001 Creative Lab's Oklahoma laid off.
-- Paul (skypilot99@aol.com), July 31, 2001.
Previously reported 1000TOKYO (CBS.MW) -- NEC Corp. announced Tuesday it will slash 4,000 jobs worldwide and withdraw from memory chip production as it struggles to boost profits in the wake of a global slowdown in the chip industry.
-- Martin Thompson (mthom1927@aol.com), July 31, 2001.
MILWAUKEE (AP) -- Catalyst International Inc. has cut more than 50 jobs, about 15 percent of its work force, in response to mounting losses.Tuesday, July 31, 2001
-- Doris (nocents@bellsouth.net), July 31, 2001.
07/31/01 - Garden Way. maker of famed Troy-Bilt lawn mowers filed for bankruptcy protection Monday, leaving 550 workers without jobs and ending a 64-year manufacturing tradition.
-- Doris (nocents@bellsouth.net), July 31, 2001.
END OF THREADGo to
Layoffs XII
-- Martin Thompson (mthom1927@aol.com), July 31, 2001.