8/23/02
Time
Warner Telecom to Cut 11% of Work Force The Associated Press
Time Warner Telecom will cut about 230 jobs, or 11% of the work
force, to try to reduce costs and boost cash flow. The effort is
part of the firm's attempt to return to profitability. Time Warner
Telecom last week reported a second-quarter net loss of $30.8 million,
or 27 cents a share.
8/21/02
I2 Technologies will
slash costs more than initially planned in a bid to stem losses
at the software maker, which set plans last month for about 1,440
layoffs.
8/21/02
US Airways Group Inc., which filed for bankruptcy-court
protection earlier this month, told employees it plans to shrink
its mainline jet operations further, which will lead to unspecified
numbers of layoffs.
8/20/02
Cingular Wireless is cutting up to 3,000 jobs, or roughly
7% of its work force, through a combination of layoffs and attrition.
Separately, the No. 2 U.S. wireless provider is in preliminary merger
talks with VoiceStream.
8/20/02
Kmart Corporation announced a cost reduction initiative
aimed at aggressively reducing costs within the organization. This
initiative reportedly realigns the organization to reflect the Company's
current business needs, following the completion of 283 store closures.
As part of the initiative, beginning today the Company will eliminate
approximately 400 positions at Kmart's corporate headquarters and
approximately 50 positions located nationally that provide corporate
support. The Company also will eliminate approximately 100 current
open positions, and will begin phasing out approximately 130 contract
positions.
8/20/02
German electronics and engineering conglomerate Siemens
AG aims to accelerate planned job cuts at its IC Networks unit
as the slump in the market for fixed-line telecommunications equipment
worsens. Siemens had planned to complete the job cuts at ICN by
the end of September 2003, but now aims to slash about 20,000 jobs
by the end of 2002,