1/31/03
Toys R Us,
the nation's second-largest toy retailer, is cutting 700 store management
and supervisory positions. The layoffs, which are effective immediately,
were necessary as the company reallocates labor in about 400 stores
in the US.
1/30/03
Corvis Corp. announced that it will lay off another 180
people, or about a quarter of its remaining staff, with most of
the cuts affecting its research and development staff at the corporate
headquarters in Columbia. The layoffs represent the network equipment
firm's eighth restructuring in the last year and a half. In the
last year, Corvis's sales have declined about 90 percent because
its telecommunications carrier customers stopped upgrading their
networks.
1/30/03
In a move to streamline its drug-discovery efforts, Manhattan-based
Bristol-Myers Squibb Co. will cut 113 research jobs as it
focuses on products that are close to regulatory approval.
1/30/03
Coca-Cola Co. plans to cut its payroll by about 1,000
people as it restructures its North American operations to combine
several units.
1/30/03
Computer
Network Technology Corp., a provider of storage-networking systems,
said it plans to cut 10% of its staff, or about 80 employees, as
a result of "improved efficiencies" across all business
units.
1/30/03
Aiming to
consolidate some server manufacturing in Houston, Hewlett-Packard
plans to close a California plant that makes servers and storage
products. About 500 employees work at the Roseville, Calif., plant,
which makes HP 9000 servers, Intel-based servers and storage gear.
Approximately 25 jobs will be cut, and about 475 positions will
be shifted to Houston.
1/30/03
Brobeck, Phleger & Harrison,
one of the most profitable and powerful law firms in the San Francisco
Bay area, is likely to dissolve following the collapse of merger
negotiations with Philadelphia-based Morgan, Lewis & Bockius.
Brobeck saw its revenue fall with the decline
of the technology sector and was facing a heavy debt load and real-estate
obligations.
1/29/03
Dice Inc., New York, an online recruiting company, announced
it entered an agreement to restructure under a planned Chapter 11
bankruptcy filing and emerge as a closely held company.
1/28/03
Blaming fast-growing Chinese production of magnesium,
Canadian mining company Noranda Inc. said it plans to shutter for
at least a year a recently built 1.2 billion Canadian dollar (US$787
million) plant in Quebec that produces the metal.
1/28/03
A judge granted Kmart final approval to close
316 stores and proceed with a $2 billion financing package, clearing
the way for the discount retailer to emerge from bankruptcy.
1/28/02
EarthLink
plans to shut-down several call centers and lay off 1,300 employees,
or about 25% of its work force. EarthLink said it will now begin
outsourcing all of the customer service for its dial-up Internet
accounts. It will continue to provide in-house customer service
for high-speed Internet, wireless and business accounts.
