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 24, 2003

3/1/03 Adaptec Inc. said it will eliminate 165 jobs, or about 11% of its staff, as part of a restructuring plan that it hopes will lead to annual savings of $17 million. The Milpitas, Calif., company, which makes storage-management products, said the cuts should result in a one-time charge of about $7 million. 2/27/03 Japanese video game publisher Sega said it would cut 20 percent of its U.S. headquarters' staff in San Francisco, or about 90 jobs, as it reorganizes its North American operations ahead of a planned merger. Sega is in the process of combining with Japan's Sammy, a maker of pinball-like "pachinko" gambling machines. 2/27/03 Goldman Sachs canned six analysts, as more stock researchers lose their jobs in the midst of a three-year bear market that has exacted a heavy toll on Wall Street revenues. Goldman suspended research coverage on some 40 companies, including AOL Time Warner and Disney, as it realigns its stock research groups. 2/27/03 Palm cut 19 percent of its work force with at least half of those workers being let go Thursday. The company confirmed that it had let go of about 200 workers over the course of its third fiscal quarter, which ends Friday. The work force reduction leaves the company with about 900 total employees in its hardware division, Palm Solutions Group, and its operating system subsidiary, PalmSource. 2/27/03 Midwest Express said it will lay off 13% of its employees and launch a low-fare airline to attract leisure travelers as the upscale regional carrier battles a loss of business-fare traffic. The work-force reductions, which the company termed "temporary furloughs," will affect about 430 employees at Midwest Express Airlines. 2/27/03 International Business Machines Corp. laid off workers in its combined software and technology-services work force. Fewer than 1,000 employees were let go. The combined work force of the company's services and software units is about 215,000. IBM's total work force is around 320,000. The job cuts were attributed to the company's evaluation of its mix of job skills. 2/26/03 RHC Media Inc. has hired boutique investment bank DeSilva & Phillips to find a buyer for its Red Herring magazine, according to people familiar with the situation, a move that could lead to the shuttering of what was a hot title during the dot-com boom. 2/25/03 AirFiber, the San Diego-based free space optics firm which once had lured funding from high-profile vendors such as Qualcomm and Nortel Networks, has laid off all of its 60 employees and closed its doors.

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