Dot Com News from Week of April 16, 2001

• 4/20/01 - Commerce One, a business-to-business software company, cut at least 60 jobs at its Arlington office last month. Commerce One provided severance packages of at least four weeks pay, but on the condition that employees who got the ax sign a form promising not to discuss the matter.
• 4/19/01 - Silicon Graphics announced it will slice approximately 1000 full and part-time jobs or 15 percent of its global workforce while experiencing a third quarter loss of $141 million.
• 4/19/01 - Quokka Sports Inc. plans to cease operations, people familiar with its plans said, joining the growing circle of sports Web companies that have been unable to survive the decline in advertising and sponsorship revenue.
• 4/19/01 - Nortel, the big communications-equipment supplier, said it now plans to cut a total of 20,000 jobs by midyear, up from its recent target of 15,000, in order to align its cost structure with current market conditions.
• 4/19/01 - Primus Telecommunications Group, an Internet and telecommunications service provider, said it has fired about 10 percent of its 3,000 full-time employees as revenues decline.
• 4/19/01 - Datek Online, an online brokerage, trimmed its staff by 10 percent and consolidated its operations to a new headquarters as part of a campaign to cut costs. Datek laid off 131 workers and said it will move its three operations, all located in New Jersey, to one facility in Jersey City, N.J.
• 4/19/01 - New York Times Co. is eliminating 47 of its 300 workers in Web operations. This is a result of plans announced earlier in April to cut costs. The elimination mainly focused on the companies Web sites, WineToday.com and Abuzz.com.
• 4/19/01 - Ashford.com, a Web site that sells luxury items has been dropped by NASDAQ by failing to meet a minimum bid price requirement of $1.00. Ashford.com has revealed that they have until July 9 to comply with NASDAQ's minimum bid rule for 10 or more days throughout the next 90 days or have its listing removed from the NASDAQ exchange.
• 4/18/01 - SportsLine.com Inc., the online sports news and commerce site, reported a first-quarter loss slightly larger than a year ago, and said it would cut 15 to 20 percent of its staff to curb costs. The planned job cuts will reduce the company's staff of 461 by about 90 employees.
• 4/18/01 - eGlobe, Inc., supplier of enhanced communications services, announced that it has filed a voluntary petition for relief, for itself and 16 U.S. subsidiaries, under Chapter 11 of the United States Bankruptcy Code.
• 4/18/01 - In an effort to reduce operating costs, the online network Snowball, which runs such young adult oriented Web sites such as Snowball.com, HighSchoolAlumni.com, ChickClick.com, SnowballShopping.com, IGN.com and NFLuth.com, has chopped away 33% of its workers or about 55 employees. The company is committed to breaking even by the end of 2001.
• 4/17/01 - RecordTV.com, a Web site allowing users to record television programming has shut down after a suit was filed against them by Disney Enterprises Inc. Paramount Pictures, Warner Bros, and Metro-Goldwyn-Mayer. Operating out of a suburban home, founder David Simon will has agreed to paying $50,000 and will sell remaining assets.
• 4/17/01 - Terry S. Semel, formerly of Warner Bros. has been named Yahoo's new chairman and CEO, replacing Tim Koogle who will become vice chairman until August 2001 whereby he will stay on Yahoo's board.
• 4/16/01 - DigiScents, which wanted to bring odors to Web browsing by attaching fragrance boxes to computers, has reportedly gone out of business.
• 4/16/01 - Nettaxi.com is the latest in a long line of dot-com firms that have chosen to lay off workers and restructure their business. The site, which provides community based Web hosting for personal home pages and small businesses, said it would restructure to save $1.3 million a year. Job cuts and reductions in management-level salaries are part of the restructuring. The staff has been cut by 33 percent, leaving a total of 16 employees still working at the company.
• 4/16/01 - Citing an economic slump that has crippled and killed off a growing number of high-tech companies, networking titan Cisco Systems Inc. said it will lay off 8,500 workers and warned that profits in the current quarter will be far less than anticipated.