Dot Com News from Week of September 3, 2001
- 9/5/01 - Online sports media company SportsLine.com Inc. of Fort Lauderdale, Fla., has reached an agreement to acquire Sandbox.com Inc., a Reston-based Internet sports fantasy game company. Sandbox.com employs about 40 people - down from around 110 almost a year ago. The CEO of Sandbox said he expects there will will be more staff cuts as the two workforces are combined.
- 9/5/01 - Sony is discontinuing a device that helps identify songs played on the radio. As a result, 17 employees of Sony will be eliminated and be given two months to find new positions within the company or elsewhere.
- 9/5/01 - Equant NV, a Dutch telephone and Internet data company that merged with Reston-based Global One Inc., is laying off 23 percent of its workforce, including an undisclosed number of Washington-area workers. Equant two weeks ago said it plans to cut its global workforce of 13,000 by about 3,000 positions company-wide over the next nine months, with half of those layoffs slated by the end of this year.
- 9/4/01 - Hewlett-Packard Co. said that the combined company (HP and Compaq) plans to cut 10 percent of its work force, or about 15,000 jobs, once the deal is completed. That means that when the dust settles, the companies will have eliminated approximately 29,500 jobs since the beginning of this year.
- 9/4/01 - Pegasus Solutions, Inc., a provider of transaction processing and electronic commerce solutions to the hotel industry worldwide, announced its decision to reorganize the Company's operations into distinct functional areas rather than its current business unit structure. The restructuring plan includes the elimination of approximately 300 positions, or approximately 15 percent of the workforce.
- 9/4/01 - Telecommunications company Marconi PLC will lay off 2,000 employees or approximately 5% of its workforce just as the chairman and CEO announced their immediate resignations. It is known that the company's 2000 job cuts are in addition to 8,000 cuts previously planned.
- 9/3/01 - Hewlett-Packard Co. has agreed to acquire Compaq Computer Corp. in a stock-swap transaction that values Compaq at about $25 billion. Both boards have approved the transaction. The deal would result in a combination of two of the biggest names in computers, printers and computer servers.