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.
11/21/02
Playboy Enterprises, Inc. announced a restructuring aimed at increasing profitability by reducing expenses. The initiatives include an approximately 8% decrease in its existing workforce, consolidation of office space in Los Angeles and the reduction of other overhead costs. The company said that it is eliminating a total of approximately 70 positions, 20% of which are presently open. The positions are spread throughout the company's businesses.
11/21/02
U.S. investment bank Morgan Stanley is cutting about 2,200 staff world-wide, of which 100 positions are in Asia including Japan, a person familiar with the matter said Thursday. The latest layoffs will reduce the firm's global work force by 3.8%, from 57,799 employees at the end of August. Most of the job cuts are to take place this week.11/20/02
Hewlett-Packard reported fourth-quarter earnings that topped Wall Street expectations, buoyed by record revenue and profit from its printing business along with narrower losses in its computer business. The company also said it plans to cut 1,100 more jobs than it had recently announced.
11/20/02
Black & Decker will close a Maryland plant, eliminating 1,300 jobs and leaving the toolmaker with little manufacturing in its home state.
11/20/02
Morgan Stanley is laying off at least 275 salesmen, traders, analysts and investment bankers, as Wall Street's woes continue to force cost cutting. Morgan laid off 5% of its staff earlier this month.
11/20/02
The International Association of Machinists union said it reached a tentative agreement to provide $1.5 billion in pay cuts and other savings over 5 1/2 years to help UAL Corp.'s United Airlines avoid a federal bankruptcy-court filing.
11/20/02
Boeing Co.'s commercial-airplane division expects to cut 5,000 jobs in 2003. The reductions come on top of nearly 30,000 cuts the Chicago-based aerospace company has made since the Sept. 11 terrorist attacks. Alan Mulally, chief executive of the commercial-plane division, told employees that half of the cuts would come through attrition and the remainder through layoffs.
11/19/02
AOL Time Warner Inc.'s America Online division is expected to lay off 120 employees from its advertising-sales division Tuesday, said people familiar with the situation.
11/19/02
NCR Corp., Dayton, Ohio, said it plans to eliminate 1,500 jobs, or 5% of its work force, in an effort to streamline operations. The cuts will take place over the next six months. The computer-services company employs 30,500 workers in more than 100 countries, including 3,000 at its headquarters.
11/19/02
Fighting for survival, the online magazine Salon.com has introduced an unusual advertising program that waives subscription fees for readers willing to wade through an interactive commercial.
11/19/02
Bank of America will cut about 900 jobs in its technology and operations business before the end of the year, with more staff reductions expected in 2003.
11/19/02
Conseco said it is negotiating a debt-restructuring deal that would involve filing for bankruptcy protection. The financial-services company also reported a sharply wider third-quarter loss.
11/19/02
Xerox will take a pretax charge of as much as $400 million in the fourth quarter to cover 2,400 layoffs, in a move likely to jeopardize the firm's bid to return to profitability for the year.
11/18/02
National Century filed for bankruptcy protection as a federal probe continued into the health-care-industry financier.The finances of closely held National Century, which provides cash flow for over 100 health-care companies nationwide, have been unraveling for weeks, culminating in Monday's filing in U.S. bankruptcy court in Columbus, Ohio.