The theme of 2001
Being a generation X-er, I’m not used to a falling econimy… but this stuff is getting so bad, I want to screem.
As reported by WinInfo Daily UPDATE @ win2000mag.net
* AOL CUTS NET JOBS
AOL Time Warner will trim more than 1200 jobs at its online media
business, taking a third-quarter charge of more than $100 million. The
company will also cut 500 jobs related to its takeover of Netscape. I
think we all realize that times are tight in the online industry, but
when the industry titan starts cutting jobs, it’s time to sit up and
take notice.
* S&P SAYS GATEWAY IS JUNK
To Gateway’s critics, the company’s machines have always been junk,
although I should note that Gateway’s recent products are quite nice.
This week, Standard & Poor’s reduced Gateway’s credit and bank-load
rating to junk status, another nail in the coffin for the struggling PC
maker. “The downgrade reflects extremely competitive industry
conditions, a declining revenue base, and the company’s expectation that
it will not return to material profitability until fiscal 2002,” the
rating agency said. Yikes.
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