Layoffs XIIgreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread |
Sun to Cut 300 Jobs Through Worker 'Redeployment'LOS ANGELES, Calif. (Reuters) - Network computer maker Sun Microsystems Inc. (NasdaqNM:SUNW - news) will cut 300 jobs by the end of the company's fiscal year, which wraps up June 30, 2002, a company spokeswoman told Reuters on Tuesday.
Up to 2 percent of Sun's 43,600 employees -- or 872 workers -- are being asked to find new jobs within Sun or to leave with a severance package, said Diane Carlini, a Sun spokeswoman.
-- Martin Thompson (mthom1927@aol.com), July 31, 2001
Financial PostDiscount brokerage TD Waterhouse Group Inc., plagued by plunging trading volume and faltering efforts to cut costs and boost revenue, is slashing 600 jobs, or 9% of its workforce, to jumpstart its woeful financial performance.
-- Martin Thompson (mthom1927@aol.com), July 31, 2001.
August 1, 2001 As the Analysts and financial media continues to claim the economy is showing signs of improving, what do we continue to see?1) Investment House TD Waterhouse cuts 600 jobs or 9% just as other investment houses have laid off over the past couple months. If anyone should know how the economy is heading it should be investment houses.. They wouldn't lay off if they expected a rebound soon but would try to hold onto their reps until the economy picks up. I think these investment house layoffs are a really bad sign that things are gonna get worse.
2) Big tech companies like Sun Microsystems now cutting 300 and NEC cutting workers continue to follow what Lucent, Alcatel, Motorola, and other tech type companies have done......lay off. It shows again that technology is not going to "lead us out" of the slump anytime soon.
3) The stock market jumps higher, just as it has in the past few months, just because they know the Fed will lower interest rates 1/4th of a point this month. The market did not rise for any other reason, since layoffs continue, consumer confidence is down again, etc. If the ecnomy hasn't turned around with 2.75% cuts then why would a 1/4 point additional cut work miracles? The market is putting too much faith in rate cuts.
4) The number of companies making 2nd and even 3rd round layoffs. Again, if they really believed the economy was about to make a rebound, they would hang onto their workers for that "short" time so that they wouldn't have to rehire and retrain workers, etc.
-- Paul (skypilot99@aol.com), August 01, 2001.
August 1, 2001 Wind (Missed the 2nd part of their name) boosting layoffs to 20%.Aug. 1, 2001 Boeing moving 1000 jobs to Florida & Texas. I doubt many current workers will make that kind of move so many of these current workers could be layoffs with the company hiring new people at lower wages in Florida and Texas.
Aug 1, 2001 Optical Communications 28%
Aug 1, 2001 Navistar 128
-- Paul (skypilot99@aol.com), August 01, 2001.
Aug 1, 2001 Lucent's top brass selling company's private golf course for $51 million.Aug 1, 2001 Itemus closed.
Aug 1, 2001 SportBrain.com closed.
Aug 1, 2001 Vavo.com closed. Fired everyone.
-- Paul (skypilot99@aol.com), August 01, 2001.
Air Canada announces new round of job cuts WebPosted Wed Aug 1 09:51:01 2001MONTREAL - Air Canada announced a plan Wednesday to cut 4,000 jobs, in addition to 3,500 positions put on the chopping block last December
-- Martin Thompson (mthom1927@aol.com), August 01, 2001.
Martin, hope you don't mind me jumping in here.. But I had to. I was reading over at yahoo news on all of the cuts in the month of July alone and it is absolutely incredible! I had not realized there were this many people out of work or fixing to be out of work. Is there any website that has all cuts as of Jan 1, 2001? I haven't searched here at the group but I will.
-- Tess (webwoman@iamit.com), August 01, 2001.
TessAll comments are welcome.
-- Martin Thompson (mthom1927@aol.com), August 01, 2001.
NEC nixes 4000Tess scroll to the bottom of the main GICC webpage and look for LAY OFF subcategory.
The reason for the list to be broken down into many list is because it gets to unwieldy to load and scroll through. For a while I was adding up the carnage, but just got too sick to keep adding. Stopped at 800K for 2001 + 2001, back in March I think. I've read the number is now over 1.1 Million for 2001 alone, and add about 400k for 2000. >>1.5 Million folks sitting on the bench maxing out their credit cards [or worse home lines of credit], to keep up the apperances that all is swell.
-- (perry@ofuzzy1.com), August 01, 2001.
CHICAGO (Reuters) - ADC Telecommunications Inc. (ADCT) said on Wednesday it would cut an additional 2,500 jobs, close some facilities and sell certain assets, and forecast it would miss its third-quarter revenue targets due to the slowdown in demand for telecommunications equipment.
-- Martin Thompson (mthom1927@aol.com), August 01, 2001.
Wednesday, August 1, 2001By JOHN COOK SEATTLE POST-INTELLIGENCER REPORTER
Etera Inc., a plant wholesaler that also operates e-commerce storefronts for more than 1,700 independent garden stores, has filed for Chapter 11 bankruptcy after missing sales targets by $13 million this year.
The company also recently laid off most of its employees at greenhouse operations in Skagit Valley and Yakima County, cutting more than 140 workers.
-- Martin Thompson (mthom1927@aol.com), August 01, 2001.
Hamilton, Bermuda, Aug. 1 (Bloomberg) -- Global Crossing Ltd., owner of a worldwide phone and data-transmission network, had a wider second-quarter loss on higher expenses and said it will cut 2,000 jobs, or 15 percent of its workforce.
-- Martin Thompson (mthom1927@aol.com), August 01, 2001.
Thanks martin, and thanks perry, I will check that out. Carnage is right!
-- Tess (webwoman@iamit.com), August 01, 2001.
Aug 2, 2001 NetZero laying off 26%. 10 hours per month away for free, instead of 40 (which used to be unlimited)Aug 2, 2001 CDNow's closing down their Japan operations.
Aug 2, 2001 Netcentives laid off 180 from 345
Aug 2, 2001 Chritianity.com laid off about 10 more.
-- Paul (skypilot99@aol.com), August 02, 2001.
2001-08-02Applied Micro lays off 90
Applied Microsystems, a Redmond maker of software development tools for embedded systems, has laid off 90 of its 230 employees, 39 percent of the total, in a cost-cutting move.
The company also cut executive salaries by 10 percent and will shut down its facilities for one week during the third quarter of the year.
-- Martin Thompson (mthom1927@aol.com), August 02, 2001.
IsraelOrbotech cuts 200 jobs, net income falls 67% By Gregg Gardner
August 2, 12:10; updated, 18:45 -- Following a weak second quarter which saw net income plummet by 67 percent, Orbotech Ltd. said today that it will dismiss about 10 percent of its workforce, or 200 people, from its worldwide operations. Analysts predicted a continued decline in the third quarter.
-- Martin Thompson (mthom1927@aol.com), August 02, 2001.
MicroAge ceases to existBy Hal Mattern The Arizona Republic Aug. 02, 2001
MicroAge Inc., once a Fortune 500 company with annual sales of $6 billion, has basically ceased to exist as a business.
The Tempe-based computer distributor emerged from Chapter 11 bankruptcy reorganization this week and has begun implementing a plan to sell off its remaining assets and repay its creditors. Its stock stopped trading Tuesday.
MicroAge, which filed for bankruptcy protection in April 2000 after it failed to resolve a severe cash crunch, already has announced the sale of three of its subsidiaries, Pinacor Inc., MicroAge Technology Services and MicroAge Teleservices.
James Domaz, MicroAge vice president and corporate counsel, said all that remains are some small-scale operations with about 30 employees. The company had 4,600 employees, more than half based in Arizona, when it filed for bankruptcy.
-- Martin Thompson (mthom1927@aol.com), August 02, 2001.
Trail smelter to cut 91 jobsJohn Stucke - Staff writer
Owners of a British Columbia zinc smelter will lay off 91 workers in a move to trim payroll and respond to softening metal prices.
Teck Cominco Ltd., which operates the world's second-largest zinc smelter just across the U.S. border in Trail, B.C., said cuts will be made by mid-November
-- Martin Thompson (mthom1927@aol.com), August 02, 2001.
Home Director, an IBM spin-off that specializes in home networking, today cut 20 jobs at its headquarters in Morrisville -- its third round of layoffs this year.
-- Martin Thompson (mthom1927@aol.com), August 02, 2001.
Ottawa — Nortel Networks Corp., wrestling with the slowdown in the telecommunications equipment industry, chopped half of its work force at a recently acquired plant in Switzerland and again saw its credit rating slashed by an influential U.S. agency.Nortel confirmed Thursday that it has cut 225 jobs out of a total work force of 400 at its fibre-optic components facility in Zurich, which was acquired in February from JDS Uniphase Corp. for up to $3- billion (U.S.) in stock. JDS had put the facility on the block as part of its pursuit of regulatory approval for its massive acquisition of rival SDL Inc.
-- Martin Thompson (mthom1927@aol.com), August 02, 2001.
Aug 3, 2001 SIEMENS LAYING OFF ANOTHER 5000. This is on top of previous 10,000. Is this getting serious or what? Sheesh.Aug 3, 2001 SPX cutting 2000 or 7.1% of workforce.
Aug 3, 2001 Track 'n Trail, California chain of shoe stores going out of business. Closing all its stores including 2 in Wisconsin which means they are not based in California but have stores across the country.
Aug 3, 2001 LaCross Footwear after 104 years moving from LaCross, Wisconsin to Oregon. Distribution center will remain in Wis with 70 employees. 35 headquarters jobs being lost and relocation of 10 to Portland, Oregon.
-- Paul (skypilot99@aol.com), August 03, 2001.
http://news.mysanantonio.com/story.cfm? xla=saen&xlb=110&xlc=271528&xld=110 USAA chops 650 more jobs By Aïssatou Sidimé Express-News Business WriterWeb Posted : 08/03/2001
USAA, the financial services giant, pared its work force this week by an additional 650 positions — a cut that included 450 jobs at its San Antonio headquarters, those knowledgeable about the matter say.
Since early July, the company has given pink slips to about 1,000 of its nearly 24,000 employees, the largest layoff in the company's 79- year history.
It employed about 17,370 in San Antonio before the layoffs.
In recent weeks, USAA has eliminated jobs in its information technology, legal, human resources and finance departments.
An undetermined number of jobs were executive-level positions.
USAA has said it is in the midst of a reorganization that will include job cuts, but the company has declined to say how many positions it will eliminate.
Spokesman Paul Berry said Thursday: "We do not know what the full impact of this restructuring will be. When we do, we will alert our employees first and then release that to the media."
On Monday, starting at 7:30 a.m., USAA notified about 450 San Antonio employees in its property and casualty division — its housing and auto insurance division — that their jobs were being eliminated.
About 200 similar employees also were cut in the regional offices.
Meanwhile, USAA officials are hiring to fill 500 positions by year's end at its new Phoenix office that may, in 30 years time, be twice the size of the current San Antonio headquarters, USAA spokesman Tom Honeycutt said.
USAA is expanding and revamping its staff because it expects to double the number of customers it serves, to 7 million, by 2009. Most will be served by the Internet, company officials have said.
This week, employees have described the mood as somber at the company's oak-studded campus at 9800 Fredericksburg Road.
Some say they and colleagues were called, one by one, to the company's human resources offices to be terminated.
One woman who lost her job Monday said employees had begun referring to the trek as "the walk of shame."
USAA, which has won numerous plaudits in the business world, including winning a spot in January on Fortune magazine's 2001 list of "100 Best Companies to Work For," has mentioned in the past that it never has had layoffs.
More recently, the company cited the worsening economic climate as a reason for the restructuring.
Spokesman have said the job cuts will wrap up by mid-month, but noted management will periodically review each division to see if more changes are necessary.
Industry experts defended USAA's reorganization on Thursday, saying it's much like what other companies are doing as they're forced to juggle expenses against the diminishing value of investments.
Like USAA, SAFECO and American Express recently announced job cuts would play a role in managing the downturn.
Experts add that insurers are reluctant to raise rates for home and auto insurance, even when they are experiencing, as in 2001, larger than usual losses.
"They haven't raised rates because they have to stay competitive in the market," said Sandra Ray, spokeswoman for the Southwestern Insurance Information Service Inc. in Austin.
Robert Hartwig, chief economist at the Insurance Information Institute, said: "USAA is positioning itself to be a nimble, low-cost provider and to be able to take advantage of opportunities as they arise."
One employee laid off Monday said the company overreacted in cutting about 20 percent of its non-customer service employees in the property and casualty division.
"We've been in worse situations than this, where the market was down or we'd had a major catastrophe, but we'd never laid people off," the former underwriter said. "What's ironic is this is a mutual company. We don't have shareholders to report to. I'm really disappointed in the board (of directors) that approved these layoffs."
Other current and laid off employees say that even if the cuts are financially justified, the process has been detrimental to employee morale.
"For some people who were let go, I thought, 'Yeah, that was deadwood,' but for some people I'm thinking, 'Why are they letting go of this wonder producer?'" said another property and casualty employee who was laid off this week. "It's been like waiting in an intensive care unit for a loved one to die. ... People just burst out in tears for no reason."
One former USAA employee has chosen to fight her termination in court.
Mary Ibarra, a former associate executive attorney at USAA and a former San Antonio Express-News columnist, filed a lawsuit in state district court in San Antonio earlier this week, alleging she was wrongfully terminated in early July when she was laid off while on leave under the federal Family Medical Leave Act.
Ibarra began the leave in mid-June to care for her ill father.
"They said she was being laid off because her job had been eliminated," said Jeffrey Goldberg, her lawyer. "Her job entailed ongoing, complex, class-action cases against USAA — and her cases were given to other, less experienced attorneys."
USAA denied that Ibarra's termination was prompted by her taking a leave.
"Ms. Ibarra's position was eliminated as part of overall restructuring," Honeycutt said. "It is unfortunate that she was on family leave at the time, but the Family Medical Leave Act does not protect a job that has been eliminated."
asidime@express-news.net
-- Tess (webwoman@iamit.com), August 03, 2001.
Krause's files Chapter 11Krause's Furniture Inc., a Brea, Calif.-based seller of made-to-order upholstered furniture, has filed for Chapter 11 bankruptcy protection and announced plans to close 32 of its 89 stores, including two in Washington -- its stores in Lakewood and Silverdale. The store closures will result in the layoffs of 108 workers, 11 percent of the company's total work force. Its stores in Redmond, Tukwila and Lynnwood will remain open.
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
Aug 3, 2001 Disney 4000 layoffs. I heard a quick remark about this. I am not sure if this is NEW layoffs (I think it may be) or a statement about previous announced layoffs. Anyone else hear this to confirm if these are new layoffs?Aug 3, 2001 Copper Mountain Networks 40%.
-- Paul (skypilot99@aol.com), August 03, 2001.
NEW YORK (CBS.MW) - Theglobe.com, one of the symbols of the Internet boom and bust, said Friday it will close its core business, fire half its remaining workers and try to sell off remaining units.The company, running out of money to sustain operations, also will vacate its Manhattan headquarters.
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
SAO PAULO, Brazil, Aug 3 (Reuters) - The Brazilian unit of Philips Electronics NV (PHG) said on Friday it had laid off 180 workers as sales of light bulbs dropped during the first two months of government-enforced electricity rationing.The job cuts at the light bulb factory outside Sao Paulo come two weeks after Philips let go 120 employees at its electronics goods factory in Manaus, in the northern Amazon region.
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
Financial Post Carlo Allegri, National PostPeter Schwartz said the downturn was "sudden and dramatic."
Descartes Systems Group Inc., which previously had been relatively unscathed by the high-tech downdraft, said yesterday it had fallen prey to a dramatic sales slowdown, and warned it would miss sales targets for its second quarter by up to US$8-million.
The revenue shortfall forced the company to lay off 70 employees, or 10% of its workforce. The jobs cuts would occur in all areas, Peter Schwartz, chief executive, said during a conference call with analysts.
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
CANTON, Ohio (AP) - The Timken Co., a bearings maker with operations in 24 countries, plans to cut another 300 jobs, about 15 percent of its work force, due to a slowing economy.Timken said Wednesday it would cut the jobs in North America and western Europe, most of them by December. The specific locations weren't disclosed.
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
HOFFMAN ESTATES, Ill. (August 3, 2001 12:58 p.m. EDT) - Sears, Roebuck and Co. wants to save money, acknowledging that cutting costs may mean cutting jobs at its corporate headquarters.The retailer has been hurt by weaker retail demand, so executives are looking for fat to cut, Sears spokeswoman Peggy Palter said.
http://www.nandotimes.com/business/story/55164p-811235c.html
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
SANTA CLARA, Calif. (Reuters) - Tripath Technology Inc. (Nasdaq:TRPH - news), a digital amplifier developer, said on Friday it will cut 40 percent of its work force as part of a cost-cutting plan to help it achieve profitability.
-- Martin Thompson (mthom1927@aol.com), August 03, 2001.
Aug 4, 2001 TheGlobe.com closed.Aug 4, 2001 Ricochet wireless Internet closed.
Aug 4, 2001 MarchFirst closed.
-- Paul (skypilot99@aol.com), August 04, 2001.
2001-08-04Worldstream shuts down
Worldstream Communications Inc., a Bellevue-based provider of Webcasting services, has shut down and laid off 87 employees, according to reports in yesterday's the Seattle Post-Intelligencer and the Seattle Times. Calls to Worldstream were not returned.
Quintessent lays off 16
Quintessent Communications, a Redmond telecommunications software company, has laid off 16 employees to compensate for a weak telecommunications market, said Chief Financial Officer Gordon Gardiner. The company also is letting go some contractors and taking other cost-cutting steps, he said. Quintessent now has 125 workers.
-- Martin Thompson (mthom1927@aol.com), August 04, 2001.
FRANKFURT - After shedding more than 10,000 jobs this year, German electronics giant Siemens AG said yesterday it is weighing more job cuts as it tries to squeeze additional savings from its troubled telecommunications division.Siemens' fixed-line telecommunications arm, Information and Communications Network, has already been hit with 5,500 job cuts this year, while a total of 10,100 job cuts have been announced across the company as the Munich-based firm tries to weather the global technology slump.
-- Martin Thompson (mthom1927@aol.com), August 05, 2001.
(aturpin@scotsman.com)UNITED Business Media is axing around 700 jobs as its half year profits took a hammering due to plunging advertising sales at its high technology US publications arm CMP.
-- Martin Thompson (mthom1927@aol.com), August 05, 2001.
Aug 6, 2001 Excite@Home may be laying off 30% of tech department.Aug 6, 2001 CyberGold.com closed.
Aug 6, 2001 Rhythms, DSL provider, filed for bankruptcy. Everyone getting fired.
Aug 6, 2001 BuildNet.com bankruptcy
Aug 6, 2001 FuelSpot laid off almost everyone.
Aug 6, 2001 BookTailor.com closed.
Aug 6, 2001 Click2Learn 60 more llayoff
Aug 6, 2001 Ants.com laid almost everyone off.
-- Paul (skypilot99@aol.com), August 06, 2001.
August 5 Edition) A spokesman at Alamac Knits in Clinton has confirmed that the plant is closing its doors. "The plant is closing," said Kenny Cabral, human resources manager, Wednesday. "We cut all production last week." He said there is "only a handful" of employees still at the plant. Cabral expressed a personal regret that so many employees have lost their jobs. "We had an excellent group here," said Cabral. He said, hopefully, Alamac's loss will be other employers' gain, since he believes any employer who hires a former Alamac employee will be getting a good worker. Cabral said he did not know what would happen to the plant's equipment. He deferred that question to Gene McBride, CEO of Dyersburg Corporation, of which Alamac is a subsidiary. Dyersburg's headquarters is in Charlotte. Efforts to obtain a statement from Dyersburg CEO Gene McBride were unsuccessful.At one time, Alamac employed about 200 at the Clinton plant.
-- Martin Thompson (mthom1927@aol.com), August 06, 2001.
Aug 7, 2001 BASF 1200 MORE employees.Germany - 7th monthly increase in unemployment.
Britain - Officially in recession.
Venezuela - In danger of collapsing financially.
Japan - 4th recession in last 10 years. Never really came out of it. Just slid further down into deeper recession.
America - Will last month's revised figures show we had decline in GDP for last quarter instead of teeny 0.7% increase which would be first of 2 quarters to declare America officially in recession?
Country after country sliding towards recession (depression?).
-- Paul (skypilot99@aol.com), August 07, 2001.
Aug 7, 2001 Razorfish will probably file chapter 11 August 15Aug 7, 2001 DesktopHits.com no longer free.
Aug 7, 2001 Flooz will close soon.
Aug 7, 2001 LetsBuyIt.com closed.
Aug 7, 2001 Yahoo (Rumor) 2,000 people will be laid off soon.
Aug 7, 2001 Accenture laying off more consultants at all levels soon.
Aug 7, 2001 CitySearch.com more layoffs starting in September.
Aug 7, 2001 NetRail (ISP) filed chapter 11
Aug 7, 2001 Red Herring laid off 4 employees.
Aug 7, 2001 Fizzies.com closed.
Aug 7, 2001 Mobileum.com laid off more than 25%.
-- Paul (skypilot99@aol.com), August 07, 2001.
Aug. 7, 2001 FloridaHigh-tech firms to lay off 125 Melbourne companies' cuts mirror weak U.S. job market By Wayne T. Price and Sean Hao Two Melbourne high-tech employers on Monday announced a total of 125 layoffs, as the nation's job market continues to weaken.
JDS Uniphase said it will lay off about 75 workers - 25 percent of its Melbourne work force of 300 - on Aug. 17 because of a slowdown in the telecommunications industry. The layoffs are part of a major job cutback announced last month by the San Jose, Calif.-based fiber- optic communications maker.
-- Martin Thompson (mthom1927@aol.com), August 07, 2001.
Aug 8, 2001 BOC laying off 1500.
-- Paul (skypilot99@aol.com), August 08, 2001.
8/8/01 6:13:00 PMDALLAS (AP) Wyndham International Inc. has laid off 850 headquarters staff and hotel managers this year, or about 3 percent of its work force, to deal with a downturn in business travel caused by the slow economy.
The Dallas-based company said Tuesday it cut 150 of 500 jobs at its headquarters in February and April and laid off 700 hotel managers in June and July.
-- Martin Thompson (mthom1927@aol.com), August 08, 2001.
Lucent to cut 550 jobs in France Source: BridgeNews Bulletins8/8/01 11:19:00 AM
Paris, Aug. 8 (AFP) - U.S. telecommunications equipment maker Lucent Technologies is planning to cut 550 jobs in France, slashing its staff here by 42%, the company said in a statement Wednesday. Lucent currently employs 1,300 people in France.
-- Martin Thompson (mthom1927@aol.com), August 08, 2001.
GREENVILLE, S.C. (AP) -- Spartanburg-based Mayfair Mills Inc. has laid off about half of its 825 employees, the company's president said.The company also will lay off the remaining employees in the next two to three weeks until it receives word on whether it will receive a new financing plan from Wachovia Bank, company President Frederick B. "Rick" Dent Jr. said.
-- Martin Thompson (mthom1927@aol.com), August 08, 2001.
The Australian Financial Review --- Page: 13.Australia's Anaconda Nickel has retrenched 60 people, representing 10 per cent of its workforce. The $A16 million-a-year cost reduction exercise follows an operational review of Anaconda, demanded by the nickel producer's major shareholders, Anglo American and Glencore International. Announcing the retrenchments, Anaconda's CEO, Andrew Forrest, said that improved production techniques at the company's 60 per cent- owned Murrin Murrin nickel operation
-- Martin Thompson (mthom1927@aol.com), August 09, 2001.
CHICAGO (Reuters) - No. 1 U.S. apparel chain Gap (GPS), which in July cut its headquarters staff by about 10 percent, said on Thursday it may eliminate up to 790 additional jobs under efforts to bolster profits and improve operations.Gap, which cut 1,300 corporate jobs in July, said it would take a second-quarter charge of up to $30 million to cover costs related to the change
-- Martin Thompson (mthom1927@aol.com), August 09, 2001.
German drugs firm Bayer is shedding 1,800 jobs worldwide, with the possibility of more cuts ahead following the shock withdrawal of its cholesterol-lowering drug Baycol.
-- Martin Thompson (mthom1927@aol.com), August 09, 2001.
August 9, 2001, 3:40 p.m. PT update Iomega--faced with declining sales of its Jaz and Zip storage drives--said Thursday that it will cut 38 percent of its staff and take a third-quarter charge for restructuring.Roy, Utah-based Iomega said it expects to record restructuring and other charges in the range of $55 million to $65 million in the third quarter, in an effort to align its cost structure with its expected revenue.
The third-quarter charges will reflect expenses associated with the reduction of the company's worldwide work force--a plan to trim staff in the second half by about 1,250 employees from the current 3,300 workers.
-- Martin Thompson (mthom1927@aol.com), August 09, 2001.
Aug 9, 2001 Riversoft laying off 90Aug 9, 2001 Salon.com laying off 14.
-- Paul (skypilot99@aol.com), August 10, 2001.
Aug 8, 2001 Playboy.com laid off 13.Aug 8, 2001 Listen.com about to have another round of layoffs.
Aug 8, 2001 Wilson Sonsini 50 more associates (60 already gone).
Aug 8, 2001 TradeOut.com closed. Bought out.
Aug 8, 2001 About.com fired whole Boston office
Aug 8, 2001 Barpoint.com laid off 10%.
Aug 8, 2001 StoreRunner.com almost gone...almost closed.
Aug 8, 2001 CoolSavings.com laid off 47 employees.
Aug 8, 2001 BusyBox.com closed.
-- Paul (skypilot99@aol.com), August 10, 2001.
ENGLEWOOD, Colo. (Reuters) - High-speed Internet access company Rhythms NetConnections Inc. (RTHM.OB) said on Friday it will end service in a month and fire 700 employees, or 75 percent of its work force.
-- Martin Thompson (mthom1927@aol.com), August 10, 2001.
About 65 Eaton Corp. employees will be out of work beginning Monday in what a company official called a temporary layoff.John Lancaster, sales and marketing director at Eaton’s Golf Pride golf grip-making plant in Laurinburg, said Thursday that nearly all of the affected workers volunteered for the layoff.
-- Martin Thompson (mthom1927@aol.com), August 10, 2001.
Aug 10, 2001 Rare Medium laid off another batch. They now have 100 from what was over 1,500. It appears the following offices will be shut down: San Francisco, Los Angeles, San Antionio, and Denver. This leaves NYC, Atlanta, and Dallas.Aug 10, 2001 eBay is gonna lay off around 15% soon.
Aug 10, 2001 BlueLight.com (K-Mart) may have laid off 90% of the San Franciso office
Aug 10, 2001 Paperfly.com closed.
Aug 10, 2001 BuildNet.com filed Chapter 11. Closed.
Aug 10, 2001 Genuity is laying off 16%, almost 950 people.
Aug 10, 2001 Sierra may lay off 300 soon.
Aug 10, 2001 AnswerThink laid off 100
Aug 10, 2001 Evolve is laying off 20%, over 50 people
Aug 10, 2001 Covad - Chapter 11, Closed
-- Paul (skypilot99@aol.com), August 10, 2001.
San Francisco, Aug. 10 (Bloomberg) -- Charles Schwab Corp., which has reduced its workforce by 13 percent this year, said more job cuts are likely as individuals shun trading stocks.The biggest online brokerage will probably make ``additional workforce and technology capacity reductions,'' said its quarterly filing with the Securities and Exchange Commission.
-- Martin Thompson (mthom1927@aol.com), August 10, 2001.
The Arizona Republic Aug. 10, 2001Prudential Financial Services announced it has laid off more than 200 employees at a northeast Phoenix telesales center that fields property and casualty insurance calls.
The layoffs are effective immediately.
-- Martin Thompson (mthom1927@aol.com), August 10, 2001.
The economic struggles of Scottsboro Aluminum LLC took a turn for the worse this week and the company was forced to file Chapter 11 bankruptcy Wednesday in Chicago by its lender, PPM Financing, Inc.According to Scottsboro Mayor Ron Bailey, the company told him it will "temporarily cease production" tonight at 11, putting approximately 500 workers out of a job.
-- Martin Thompson (mthom1927@aol.com), August 11, 2001.
BBC is reporting today that Bayer will cut 4,000.Canada's official unemployment rate has remained at 7% for the past five months.
-- Rachel Gibson (rgibson@hotmail.com), August 11, 2001.
END OF THREADGo TO
Layoffs XIII
-- Martin Thompson (mthom1927@aol.com), August 11, 2001.