Dot Com News from Week of May 28, 2001

• 6/1/01 - nStor Technologies, a provider in the data storage marketplace, completed its restructuring effort this week with a reduction of 20% of its employees.
• 6/1/01 - Nerds4Rent, Inc. filed for Chapter 11 protection with the U.S. Bankruptcy Court. Nerd School is a source for professional development and end user training.
• 5/31/01 - AtomShockwave Corp., an online film and game company, is closing offices and laying off an undisclosed number of staff members in an effort to cut costs at a time of increasing concern about how to make money from entertainment on the Web. The company is closing its New York and Los Angeles offices and will "wind down" operations at its United Kingdom office. The company will continue to have "some presence" in these cities, and that the San Francisco headquarters and Japan office will remain opened.
• 5/31/01 - PSINet Inc. and 24 of its U.S. operating units filed for Chapter 11 bankruptcy-court protection in the Southern District of New York. The move was widely expected, as the company has repeatedly cautioned investors that a bankruptcy filing was almost certain.
• 5/31/01 - Palm Inc. said it will lay off more workers "in line with business conditions". The company said it will make additional staff cuts in the fiscal first quarter. Palm has laid off about 300 workers since the company announced on March 28 that it would lay off about 250 workers. Palm currently employees about 1,700.
• 5/31/01 - Wal-Mart Stores will launch a low-cost Internet-access service in direct competition with a similar service from rival Kmat Corp. The service will give registered users unlimited access to the Web for less than $10 a month.
• 5/31/01 - Alcatel SA said it will eliminate 900 jobs in the U.S. as it consolidates facilities and operations, blaming "tough" U.S. business conditions. The announcement came several days after the French telecommunications-gear maker called off merger talks with U.S. rival Lucent Technologies Inc. and warned of a deep second-quarter loss.
• 5/31/01 - Ibis Technology Corp. cut about 14% of its staff, including regular and temporary workers, and lowered discretionary spending under a plan to reduce expenses. Ibis Technology, which provides wafers and equipment for the semiconductor industry, said it also implemented an unspecified pay reduction for senior executives.
• 5/31/01 - Micron Electronics on announced that it would lay off 250 workers as it completes the sale of its PC business to Gores Technology Group.
• 5/31/01 - Extended Systems said that it would trim 15 percent of its staff and sell its print-server business after a deal to be acquired by Palm fell apart earlier this month.
• 5/31/01 - Office Depot, Inc., the world's largest seller of office products, announced the acquisition of officesupplies.com, Inc., a leading online office supply retailer. The acquisition includes officesupplies.com customer base and the company's Web site and URL domain name: "www.officesupplies.com." Terms of the transaction were not disclosed.
• 5/31/01 - Online storage company Myspace.com has ceased its free storage service, prompting many of its customers to scramble to retrieve their digital files before they are deleted.
• 5/30/01 - MarketWatch.com, a financial news company, said it will cut more than 15% of its work force, undertaking its first round of layoffs in an effort to ensure that it is cash-flow positive by the end of the year. After the layoffs, San Francisco-based MarketWatch will have about 215 employees, down from 255 as of March 31.
• 5/30/01 - Online job portal Monster.com and its parent, TMP Worldwide said today the company has acquired privately held FlipDog.com, and has made a cash offer for Stockholm-based Jobline International AB.
• 5/30/01 - McLeodUSA, a communications services company, said it would cut about 5% of its 11,500-person work force. In addition to cutting jobs, McLeodUSA plans to reduce its capital construction spending through 2002 by $300 million.
• 5/30/01 - Computer retailer CompUSA said it plans to cut 700 people from its work force of 18,000 as part of a restructuring intended to focus on its core retail business and improve service to commercial customers.
• 5/29/01 - BMG said it would share damages -- estimated by industry sources to be $20 million -- from a lawsuit against MP3.com with all of its artists whose copyrights were infringed by the company.
• 5/29/01 - Data storage company EMC Corp. said it will cut 1,100 jobs, about 4 percent of its global work force, as is seeks to cut operating costs.