5/31/02
Sports.com
Ltd., a European online sports publisher, was placed into administration
in the United Kingdom in an attempt to preserve the business and
find a buyer. In administration, a court-appointed administrator
assumes day-to-day control of a company in order to determine whether
a business should be reorganized, sold or liquidated.
5/29/02
IBM
has notified a small number of employees in its Global Services
Division that their jobs will be eliminated. A
company representative confirmed the action on Wednesday but would
not discuss the number of employees affected. The workers will have
30 days to find a different job within the company before being
laid off.
5/29/02
Web address
and security provider VeriSign is requiring employees to
take at least three paid vacation days this quarter and next, while
Hewlett-Packard and Sun Microsystems will close for
a week during the July 4 holiday as a cost savings measure.
5/29/02
Telephone-equipment
maker Nortel Networks Corp. said it will cut another 3,500
jobs, more than expected, and may sell its optical-components business
as it revamps its operations to save money.
5/28/02
Deutsche Telekom announced plans to cut 30,000 jobs by the
end of 2004 and institute cost cuts, while France Telecom vowed
not to dilute shares to cut its debt.
