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3/14/02
Metawave Communications Corp., a provider of antenna systems
for wireless applications, launched a restructuring program that includes
work force reductions, the termination of a product line and the departure
of its financial chief. Metawave will cut its total work force by
42%.
3/14/02
Tunable laser maker New Focus will shed a business unit, which
will result in the closure of an overseas manufacturing facility and
the loss of about 350 jobs. New Focus previously announced it will
close its plant in Camarillo, Calif., by the third quarter of this
year and cut 160 employees.
3/14/02
About 1,600 Microsoft Corp. employees in the San Francisco
Bay Area will face a pay cut Aug. 1 as Microsoft slashes a special
salary program put in place during the dot-com boom. In addition,
as many as 168 workers on Microsoft's Mountain View campus may lose
their jobs next month when the company officially shutters its Ultimate
TV unit.
3/13/02
Internet portal operator Lycos Europe said it will eliminate
200 additional jobs as part of a second stage of restructuring designed
to allow the company to break even in this year's fourth quarter.
3/13/02
FrontLine Capital Group today announced that HQ Global Workplaces
(HQ), a majority-owned subsidiary of FrontLine, filed a voluntary
petition for relief under Chapter 11 of the U.S. Bankruptcy Code.
3/13/02
Privately held WINfirst, which planned to provide interactive
television over fiber-optic cable in Los Angeles and other major U.S.
cities, said it has filed for Chapter 11 bankruptcy after failing
to raise the capital to build those costly networks.
3/12/02
Johnny Deep, whose file-sharing program Aimster.com came to
symbolize the renegade spirit of the Internet, filed for personal
bankruptcy, after spending months fighting the music industry in court.
3/12/02
NextCard transferred its portfolio servicing operations to
the FDIC under a restated and amended service agreement. The online
credit-card firm also said it laid off about 90% of its staff.
3/11/02
Avaya Inc., a spinoff of Lucent Technologies and suffering
from the downturn in spending on telecommunications equipment, lowered
its estimate for second-quarter revenue and said it is in the process
of eliminating about 1,900 jobs, or about 8.3% of its work force,
in a restructuring aimed at cutting costs.
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