6/19/02
In another sign of tough economic times in high tech,
International Business Machines Corp.'s research division has
laid off about 160 people, according to people familiar with the
situation. The new layoffs affect only U.S. researchers, including
those at labs in Almaden, Calif., and Yorktown Heights, N.Y. The
job cuts in research appear to be the largest job actions in the
division since the mid-1990s.
6/19/02
In an effort to cut costs, Hewlett-Packard plans
to furlough 4,000 contract workers this summer in its information
technology department and may let many workers go entirely.
6/19/02
Dutch data-communications company VersaTel Telecom
International NV filed for protection from its creditors one
month after the bankruptcy-court filing of rival KPNQwest NV.
6/19/02
Sycamore Networks plans to cut about 235 jobs and consolidate
facilities in a restructuring plan aimed at combating the telecom
slump.
6/18/02
Peregrine Systems plans to cut its work force by 48%
in the next few weeks, eliminating about 1,400 jobs. The software
maker has been reeling from accounting and management turmoil.
6/17/02
XO Communications,
Inc. filed for bankruptcy-law protection, washing out millions
of dollars in creditor claims and becoming the latest telecommunications
provider to buckle under a heavy debt burden. In addition to banks
and bondholders, the Reston, Va., provider of Internet and phone
service to small and midsize businesses lists numerous telecommunications
and telecom equipment providers as unpaid creditors.