3/22/02
Carrier Access Corporation, a manufacturer of broadband communications,
announced a reduction in its national workforce of 17 percent as
part of its overall strategic plan to return to profitability. The
company reduced its employee base by approximately 75, with most
of the adjustments in the Boulder, Colorado, and Roanoke, Virginia,
offices. Carrier Access' employment will total about 350 after the
reduction.
3/22/02
Yipes Communications, a start-up that offers cheap, fast
Internet service to businesses, filed for bankruptcy protection
on Friday. The start-up service provider competes against traditional
phone companies, such as AT&T and Verizon Communications, by offering
businesses more than twice the Internet speeds at half the cost.
3/21/02
One week after Johnny Deep, founder and president of Madster,
filed for personal bankruptcy reorganization, the two corporations
behind the file-swapping service also have filed for Chapter 11
bankruptcy protection. AbovePeer Inc. filed the bankruptcy petition
in the Albany office of U.S. Bankruptcy Court, listing no assets
and liabilities of $375,924. Deep's other company, BuddyUSA Inc.,
followed suit with a petition that revealed $444,526 in debts and
no assets.
3/19/02
Online financial company CheckFree raised its earnings estimates
for the fiscal third quarter and said it was cutting 450 jobs and
consolidating some of its offices. CheckFree said it plans to close
its Houston and Austin, Texas, facilities this summer and manage
all electronic-commerce business in its four remaining locations,
in Illinois, Ohio, Georgia and Arizona.
3/19/02
Goldman Sachs Group Inc. said it may reduce its work force
by 4% to 6%, or as many as 1,360 employees, and analysts predicted
that other brokerage firms likely will follow suit in the months
to come unless there is a drastic pickup in business.
3/18/02
EMI Music chief Alain Levy will slash as many as 1,500 jobs,
or 10 percent to 15 percent of EMI's workforce around the globe
and here in New York . The firings, expected to be announced Wednesday,
will mark the latest bold move from the music veteran who built
up record empire PolyGram before taking the helm at EMI in November.
