7/17/02
Siebel said it would slash 16% of its staff as earnings
plunged 61% on slumping software sales. The
San Mateo, Calif., company, which grew rapidly during the 1990s
and commands a dominant position in a large segment of the market
for business-applications software, plans to reduce its work force
to 6,000 employees, compared with the 7,164 it employed in June.
7/17/02
Scient filed for Chapter 11 bankruptcy protection. The
struggling Internet consulting firm agreed to be acquired by closely
held SBI.
7/16/02
Intel missed Wall Street estimates for second-quarter
earnings and said it will cut its work force by 4,000, or about
5%.
7/16/02
WorldCom is spreading out severance checks instead of
issuing them as lump sums in an effort to conserve cash, potentially
jeopardizing payments to the 17,000 employees it is laying off if
the firm declares bankruptcy.
7/15/02
Autodesk's CEO and other company officials are taking
a pay cut amid salary freezes for rank-and-file employees, as business
at the design-software maker remains soft.
7/15/02
Avnet Inc. said it will cut another 775 jobs, due to
weakness in sales of microprocessors and disk drives to personal-computer
makers.