EarthLink to Trim Work Force and Close Offices
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Shares of the Internet service provider EarthLink climbed sharply Tuesday after it said it would cut 900 jobs â about half its work force â and close four offices.
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US mobile phone giant Cingular announces plans to cut about 7,000 jobs in the next 12 to 18 months.
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EarthLink Inc  said on Tuesday it will cut about 900 jobs, or nearly half its staff, as part of a restructuring to reduce costs at the Internet service provider.
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Nortel Networks Corp. NT.TO on  Thursday said it would eliminate about 10 percent of its work  force, slightly less than previously estimated, and consolidate  real estate in a cost-cutting plan that will save $500 million  in 2005.
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Company plans to cut up to 7000 jobs this year as it transitions to digital technologies.
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Verizon Communications Inc.  on  Friday said it planned to dispose of its phone directories  business by the end of the year, reflecting its increasing  focus on Internet and wireless communications.
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The Wall Street Journal reports that the No. 3 cell phone operator in the country is preparing to lay off thousands of workers to help get its business back on track.
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Record label EMI, bought by private  equity firm Terra Firma last year, is set to announce on Monday  plans to cut as much as one third of its 6,000 staff, slash  marketing costs and drop artists as part of a restructuring,  the Wall Street Journal reported.
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AT&amp;T Corp., the largest US long-distance telephone company, will eliminate 20 percent of its work force this year and write down $11.
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Blog: Internet service provider says it will lay off about half its staff in an effort to boost profits and raise its share price.
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NEW YORK (CP) - AT&amp;T is deepening its job cuts and now expects to eliminate 20 per cent of its workforce this year. The formerly dominant long-distance telecommunications operator also said Thursday it will
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Unisys plans to lay off 1,400 workers, mainly in general and administrative positions, and consolidate offices worldwide. The cuts represent 3.8 percent of the company&#39;s staff of 37,000, and
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Nortel Networks will lay off about 1,400 employees in the US and about 950 in Canada, with those employees to be notified by the end of June 2005.
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EarthLink founder Sky Dayton said he&#39;s stepping down as CEO of Helio, a move that appears to be part of the plan to&#160;reduce EarthLink&#39;s position in the mobile company.Dayton will become chairman of Helio&#39;s board and Wonhee Sull, formerly Helio&#39;s president and chief operating officer, will take on the role of CEO. Sull was chief operations officer at the founding of Helio and prior to that worked for SK Telecom, which launched the mobile venture in a 50-50 partnership with EarthLink in 2006.A combination of market dynamics and challenges at EarthLink have recently led to changes in the Helio partnership. In November, EarthLink said it would reduce its ownership in Helio to about 22 percent, as part of an announcement of a new SK Telecom investment in the venture. At the time, EarthLink said it wasn&#39;t expecting to invest any more in Helio and that SK Telecom would take over operating control of the joint venture.EarthLink has been struggling&#160;as its traditional customer base of dial-up subscribers continues to shrink. It is working through a restructuring aimed at reversing its losses, including putting its municipal Wi-Fi plans on hold and cutting back on sales and marketing spending.Beyond EarthLink&#39;s troubles, Helio faces a challenging market. Mobile providers that don&#39;t own their own networks, like Helio, have struggled recently. Amp&#39;d, a similar company geared toward young mobile users, filed for bankruptcy protection and put itself up for sale in the middle of last year, but ultimately shut down. ESPN Mobile and Disney Mobile have suffered similar fates.Even though Helio has big-spending users and plenty of cash, EarthLink expects the company to report a year-end loss for 2007 of as much as $360 million on revenue of as much as $170 million. That&#8217;s after SK Telecom and EarthLink started the company with a combined $440 million. Since then, both companies have made additional investments.Helio has almost 200,000 subscribers who beat industry averages by some metrics, the company said. On average, Helio users spend more than $85 per month, compared with an industry average of $50, Helio said. In addition, Helio customers send an average of 550 text messages per month, and 95 percent of Helio users access the Web from their phones, according to the company.
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Nortel Networks Corp. NT.TO said on  Thursday it will eliminate almost 10 percent of its workforce,  slightly less than it previously expected, and vacate real  estate in a cost-cutting plan that will save $500 million in  2005.
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CONSUMER goods maker Colgate-Palmolive said today it would cut about 12 per cent of its 37,000-person work force and close a third of its factories worldwide as part of a four-year restructuring.
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The biggest U.S. mobile operators, AT&T Wireless and Verizon Wireless, will close down their analog networks on Monday.