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 April 7, 2003

4/11/03 Intrinsic Graphics a maker of development software for computer games, has shut down its operations and is negotiating the sale of its assets. Friday was the last day of work for the 32 remaining employees of the Mountain View, Calif., company. Intrinsic's board decided on Monday to shut down the company and sell its assets. Intrinsic Graphics, which was founded in 1999 and backed by Sony and others, was running out of cash. 4/10/03 Nokia Corp. said it plans to cut more than 10% of the work force at its networks unit and streamline its research-and-development spending as it seeks to return the division to profitability amid continued soft demand from telephone operators. Around 1,100 of the 1,800 layoffs will come in Finland, Nokia said. The cut will bring the unit's work force to 15,000 from 17,300 at the end of 2002, when Nokia had around 61,750 employees world-wide. 4/10/03 Brocade Communications Systems Inc. cut another 115 jobs, or about 9% of its total work force, as part of its restructuring program. The data storage network concern said it expects to take a charge in the fiscal second quarter as a result. The company now has about 1,200 employees. In its fiscal first quarter ended Jan. 25, Brocade cut 12% of its work force, between 150 and 160 employees. 4/10/03 A Telstra Corp. union said the company was preparing for a fresh round of job cuts as Australia's largest telecommunications company tightens its belt amid difficult market conditions. An official from the Communications, Electrical and Plumbing Union said Telstra is likely to lay off about 800 to 1,000 people from its local work force during the next few months. 4/9/03 Applied Micro Circuits Corp. expects to reduce headcount by 31% by the end of the year, to 626 employees, as part of realignment efforts to address the industry downturn. As of Jan. 1, the San Diego company had 912 workers world-wide. The integrated-circuits maker said it hasn't yet determined the amount of costs and charges in connection with the restructuring. 4/8/03 Media reports say that AT&T Wireless plans to cut about 1,800 jobs out of 3,800 IT staff, as part of its cost-cutting efforts to reach positive free cash flow. AT&T Wireless, which has the third-biggest client base in the U.S., won't confirm the layoff plans, saying only that its departments are looking for ways to keep costs low. 4/7/03 Californian systems management, security and Web analytics software vendor Net IQ Corp is to dish out pink slips to around 7% of its workforce as part of a major restructuring designed to reduce the company's spiraling costs. The layoffs will trim the company's headcount to around 1,400 employees, and will slash operating expenses to around $60m, beginning in the quarter ending September, according to NetIQ officials.

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