7/5/02
In a sign
that the Internet sector may be nearing the end of its brutal shakeout,
the number of shutdowns and bankruptcies by dot-com concerns in
the first half of this year fell 73% from the same period last year.
7/3/02
Set-top box maker Scientific-Atlanta said that
it cut 1,300 jobs in Mexico, or 16 percent of its total work force,
and warned that further cuts could follow as a result of slack demand
for its products.
7/2/02
Electronic Data Systems defended its accounting methods
and said it plans to lay off about 2,000 employees, blaming sluggish
demand for its computer services.
7/2/02
Ziff Davis Media will stop publishing Yahoo! Internet
Life magazine, blaming the continuing industry advertising slump.
August will be the last issue.
7/2/02
Supply chain
software maker i2 Technologies said that it plans to cut
staff amid declining second-quarter revenues that came in below
expectations. The company has already cut about 10 percent of its
work force in the past year, reducing staff to roughly 4,800. The
company will continue to restructure. The number of employees to
be laid off in the next round will be announced July 16, when i2
releases the final earning results for the quarter.
7/2/02
Traffic is light, parking lots are half empty and hallways are dim
throughout office parks in Silicon Valley this week, where many
companies have put workers on a mandatory vacation to save money.