Dot Com News from Week of October 1, 2001

• 10/5/01 - Travel company Travelocity plans to eliminate 19% of its workforce or 320 positions as air travel has become less attractive since the terrorist attacks on America on September 11. Prior to the cuts, the company had a total employment of 1,700 people.
• 10/5/01 - TDK will cut its worldwide workforce by 5,000 people over the next 30 months. Job cuts have already occurred in Japan and 2,000 employees will be eliminated from the United States. The company sells consumer electronics, computer peripherals and semiconductors among other things.
• 10/5/01 - Sun Microsystems announced its third-quarter results would be lower than estimated and will cut 3,900 employees or 9% of its workforce. The company cited increasing uncertainties about the economy in the United States and worldwide.
• 10/4/01 - Sonus Networks, a provider of voice infrastructure products for the new public network, announced that as part of its initiatives to align its cost structure with its recently revised business outlook, the Company has reduced its worldwide workforce by approximately 150 personnel.
• 10/4/01 - Monster.com may add to the ranks of job seekers posting resumes on its site as it cuts 10 percent of its own staff to save costs. The cuts are in response to a sharp downturn in business seen since Sept. 11's terrorist attacks. Monster.com said the layoffs also reflected improved efficiencies achieved through acquisitions of rival sites.
• 10/4/01 - Online travel agency, Ebookers will eliminate 20% of its total of 700 employees. This cost-cutting measure is taking place due to the lack of air travelers since the terrorist attacks on September, 11. Their busiest day ever was on September 10.
• 10/3/01 - Corning warned that third-quarter results will fall well short of analysts' estimates and boosted the number of planned layoffs to 12,000. The optical-gear maker cited rapidly deteriorating business conditions.
• 10/3/01 - Credit Suisse First Boston, saddled with higher compensation costs than many of its Wall Street rivals, is increasing its efforts to cut expenses as profits decline. The big Wall Street securities firm, a unit of Switzerland's Credit Suisse Group, is planning to let go of about 760 members of its world-wide investment-banking staff, or 20% of the group.
• 10/3/01 - Software company Convera announced that it will close certain operations and cut 17 percent of its work force, or an estimated 60 people, resulting in a charge of about $6 million. The company employed about 350 people before the restructuring, which aims to cut annual costs by $15 million.
• 10/3/01 - General Electric will eliminate up to 4,000 employees or 13% of its entire worldwide workforce. The company blamed weakened demand in the wake of the September 11 terrorist attacks. 800 employees will be axed from its Cincinnati, OH location and up to 250 from its Lynn, Mass. plant.
• 10/3/01 - French telecommunications systems vendor, Alcatel, has announced it will cut 3,000 employees from its 110,000 person workforce -- 71% of the cuts from its undersea network operations and 29% of the cuts from its fiber optic divisions. Most of the cuts will become new positions within the company.
• 10/3/01 - McLeod USA, a telecommunications company has eliminated 15% of its staff and consolidated its operations. The company also abandoned its plans to expand into a national network and expects to save $400 million yearly.
• 10/2/01 - Nortel Networks Corp., suffering from ever-shrinking demand for telecommunications equipment, said it expects to report a third-quarter loss of $3.6 billion, or $1.13 a share, and is increasing its job reductions by about 20,000.
• 10/2/01 - Bayer has agreed to acquire Aventis SA's CropScience business for 5.35 billion euros (or $4.9 billion) in addition to assuming 1.9 billion euros of debt. This would ultimately terminate the employment of 4,000 people and is expected to increase Bayer's earnings ability.
• 10/2/01 - Internet research company, Jupiter Media Metrix will terminate 30% of its 650 person workforce worldwide. This is expected to save the company $40 million annually thus achieving profitability. Also, the company's U.S. president will now become president of worldwide operations.
• 10/1/01 - Internet search and content delivery developer Inktomi Corp. said it will meet its fiscal fourth-quarter guidance but said it was cutting 150 jobs and post charges as it seeks to return the company to profitability.
• 10/1/01 - Data and long-distance telephone carrier WorldCom said that its data, Internet and international unit plans to cut about 1,000 jobs, or about 10 percent of its European work force, due to lower capital spending and a restructuring in the region.
• 10/1/01 - BulkMarkets.com announced that the company will suspend operations October 31, 2001. BulkMarkets.com creates and operates electronic marketplaces for specialty agricultural commodities including bulk wine and bulk juice concentrates.
• 10/1/01 - PowerBrief Inc., a development stage enterprise, who serves the legal community by providing a secure, Internet-based platform for tightly integrated case management, including document and discovery management, will voluntarily file on Tuesday, Oct. 2, 2001, for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
• 10/1/01 - Business software maker MicroStrategy will trim nearly 20 percent of its work force to try to conserve cash amid the tech sector slowdown. MicroStrategy will cut about 175 jobs, bringing its headcount to about 825 workers.
• 10/1/01 - Click Commerce, which provides channel-management software and services, will eliminate 15% of its workforce. The cuts will leave the company with 235 employees as William M. Conroy becomes the new president and CEO.
• 10/1/01 - Cirrus Logic, manufacturer of computer chips, will be knocking off 30% of its workforce or 300 jobs. This action is aimed at saving $15 million to $20 million yearly. The company now plans to focus on digital entertainment.
• 10/1/01 - While XO Communications claims it will meet expectations for its third-quarter revenue and cash flow, it will still attempt to save money by shedding 600 employees or 8% of its total workforce. The company stated the cuts will mainly affect support personnel.
• 10/1/01 - Intershop Communications has shed its entire United Kingdom staff and plans to layoff additional employees in the United States. This is in an attempt to break even in the fourth quarter.
• 10/1/01 - Hewlett-Packard who last month announced it would acquire Compaq and lay off employees, has now stated more jobs could be cut prior to the acquisition. Since the deal was made to acquire Compaq, the stocks at both companies have fallen and the value of the deal has gone from $25 billion to $16.9 billion.
• 10/1/01 - Motient Corp., a wireless messaging company has laid off a quarter of its entire workforce and said this would affect only employees working at its Reston and Lincolnshire, Ill. locations. In addition the company has decided not to acquire Rare Medium Group Inc.