Motorola plans to cut 15,000 jobs

Article Abstract:

Motorola announced that it will eliminate 15,000 workers, or 10% of its total workforce, and projects to report a quarterly loss. The layoffs will happen over the next 12 months as part of a restructuring plan, that will also involve consolidation of its manufacturing operations and existing unsuccessful units. The decision will be reflected in a $1.95-billion pretax charge in the second quarter earnings. The announcement came, following analysts' projection that it will earn around $150 million in the quarter. The company has been suffering from its flagging semiconductor unit as well as declining demand in Asia and stiff price competition.

Comment:

Will eliminate 15,000 workers, or 10% of its total workforce, and projects to report a quarterly loss

Other Electrical Equipment and Component Manufacturing, Electronics, Motorola Inc.

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Bell Atlantic strike will mean delays

Article Abstract:

Bell Atlantic's local phone customers from Maine to Virginia will have to expect delays in installation, repairs and other services because of the strike of 73,000 company workers. According to analyst Jeffrey Kagan, since the striking members of the Communications Workers of America union include field technicians, operators and customer help representatives, delays in those service will have to be anticipated. The strike, which started on midnight of Aug. 9, 1998, is aimed to prevent Bell Atlantic from shifting jobs to other firms or to non-union subsidiaries.

Comment:

Local phone customers will have to expect delays in placement, repairs & other svcs due to strike of 73,000 workers

Wired Telecommunications Carriers, Telephone Communications, Telephone services, Bell Atlantic Corp.

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Venture companies log on to Internet success

Article Abstract:

Venture capital companies are investing huge sums of money on startup Internet companies. The growth and success of venture capital investments in Internet companies are due to the fast returns of investments to be made from the deals. Initial public offerings by Internet firms are commonly anticipated by venture capitalist as investment returns are huge. Venture capital companies such as Benchmark Capital has seen its investments in eBay rise to $2.7 bil from an initial investment of $1.5 mil.

Miscellaneous Intermediation, Use of Funds, Venture Capital Companies

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