Xerox is to cut 4000 jobs worldwide over the next three months, on top of the 2000 that were cut in the fourth quarter. The news came as the copier giant reported its second consecutive loss in the fourth quarter.
Loss from operations was $198m, or 31 cents a share, compared to a net profit of $294m, or 41 cents a share, a year ago. Revenue dropped 13 per cent to $4.83bn.
Hewlett Packard slims staff
Hewlett Packard plans to axe around 1700 staff worldwide as part of its strategy to consolidate product lines and reorganise staffing levels. Some 350 employees will be targeted in Europe.
Staff will be notified in February and will be given opportunities to apply for jobs elsewhere in the company.
Gateway founder reinstated as chief executive
Gateway chief executive Jeff Weitzen has announced plans to retire and will be replaced by founder and chairman Ted Waitt. Weitzen joined the company in 1998 to replace Waitt as chief executive only a year ago.
The news follows Gateway's disastrous fourth quarter earnings that were blamed on a slowdown in PC spend.
The company also announced plans to cut 3000 of its 24,000 employees worldwide.
Disney tells Go.com to go
The Walt Disney Company plans to close its Go.com website and fold its internet interests back into the main company. The move will affect 400 jobs that are mainly based in California.
Go.com was launched as a competitor to popular portals such as Yahoo and America Online (AOL), but last month it ranked fourth behind Yahoo, MSN and AOL, according to figures from Media Matrix.
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