With so much in the news about job cuts and closures of well-known dot com companies, we at SearchtheWeb.com thought we would track these companies and Internet related sites and provide you with updated short news announcements on their status.
9/13/02
Lucent Technologies Inc. said its fiscal fourth-quarter revenue will drop as much as 25% from its third quarter, a sign that demand for telecommunications gear continues to plunge. Company officials wouldn't comment on layoffs. But the revenue shortfall clearly means Lucent will have to make more headcount reductions.
9/12/02
Business software maker PurchasePro, the one-time Wall Street darling whose shares once traded as high as $224, said it filed for bankruptcy protection and agreed to sell its assets to privately held Perfect Commerce.
9/12/02
Digital music company Liquid Audio said it cut one-third of its work force, or 23 employees, to reduce operating expenses. The Redwood City, Calif.-based company said the action would cut expenses by about $600,000 per quarter beginning in the fourth quarter of 2002.
9/12/02
Despite rough times in the telecommunications industry, wireless services provider Teligent comes out of Chapter 11 bankruptcy protection debt-free and fully funded.
9/12/02
The holding company that operates Midwest Express Airlines said Thursday it expects a bigger loss in the third quarter than analysts expected and it plans to cut as many as 250 jobs, or 8.9 percent of its work force.
9/12/02
German pharmaceuticals giant Bayer said it will cut 4,700 more jobs, or 3.7 percent of its global work force, by 2005, citing the company's restructuring efforts and the weakness of the global economy.
9/9/02
Data-protection and network-storage systems maker Quantum said that it is cutting 1,100 jobs, roughly one-third of its work force, and taking charges as part of a restructuring brought on by a weak market. The company, whose chief executive is former Microsoft President Richard Belluzzo, said the restructuring, for which there will be special charges of around $100 million, will take place in two phases over the next two quarters.
9/9/02
Telia AB announced plans to significantly scale back its ailing international carrier operations, saying it would slash the unit's work force by more than half and shut down several businesses. The Swedish telecommunications operator said it will cut more than 400 of the unit's 800 jobs as it focuses the unit more narrowly on wholesale network services to large customers in Europe.9/9/02
N2H2, Inc., a global Internet content filtering company, announced a restructuring designed to help the company achieve profitability, which is expected in late fiscal 2003. The restructuring includes the reduction of 18 positions across the company including the Chief Operating Officer and the Vice President of Marketing.