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With so much in the news about job cuts and closures of well-known dot com companies, we at SearchtheWeb.com thought we would track these companies and Internet related sites and provide you with updated short news announcements on their status.

Dot Com News from Week of February 10, 2003

2/12/03 Cirrus Logic Inc. said it has laid off 124 employees, or 12% of its work force, in its fourth quarter, which ends March 29. The company, which provides chip solutions for consumer entertainment electronics, said it expects to take a charge of $1.2 million in the quarter for the layoffs. Lower revenue expectations prompted the job cuts, which affected employees world-wide from various business functions. Cirrus Logic said it had 1,024 employees at the end of its third quarter on Dec. 28. The company cut about 150 jobs during that quarter. 2/12/03 Rand McNally & Company filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Illinois. Concurrent with its bankruptcy filing, the Company's debt holders have approved a plan that will reduce debt from $400 million to $100 million. The Company announced intentions to emerge from Chapter 11 protection within 30 days. 2/12/03 Nokia is cutting 550 jobs, blaming the deepening slump in demand from mobile providers and growing competition for broadband business. 2/11/03 Norwalk-based Priceline.com Inc., the online travel services company, reported that its quarterly loss widened to $7.41 million as sales fell for the fourth straight time amid a slump in the company's airline ticket business. In the quarter, Priceline dismissed 65 people, or 15% of its workforce, and is shifting more focus to hotel bookings to make up for the slowdown in air travel. The number of airline tickets it sold fell 44% to 468,926 from a year earlier. 2/11/03 Ameritrade, the discount broker, said it is cutting another 300 positions as it integrates its operations with Jersey City-based Datek Online. Ameritrade and Datek merged in a $1.29 billion stock deal last September. In January, the combined companies had 2,000 employees, down from a combined total or 2,600 at the time of the merger, and Ameritrade said it wants to cut that by 15% to 1,700 by September. 2/10/03 Cablevision Systems Corp. said it will exit the consumer-electronics business by the end of the second quarter, just six months after announcing a turnaround plan for its chain of Wiz stores. Under a turnaround plan announced in August, the company closed 26 unprofitable stores in the third quarter of 2002. But after evaluating the remaining locations, Cablevision said Monday that operating the stores "is no longer a viable option." It cited the weak retail economy. 2/10/03 Apple Computer eliminated 260 positions in the last three months of last year as it closed manufacturing operations in Singapore and shifted strategy in its PowerSchool education unit, the company disclosed in a regulatory filing Monday.

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