Craig Stedman

Cap Gemini Ernst & Young LLP Tuesday joined the ranks of IT and management consulting firms that are making cutbacks, announcing plans to lay off 2,700 of its 60,000 employees as part of a wider cost reduction effort being driven by a "marked slowdown" in new business.

Cap Gemini Ernst & Young LLP today joined the ranks of IT and management consulting firms that are making cutbacks, announcing plans to lay off 2,700 of its 60,000 employees as part of a wider cost reduction effort being driven by a "marked slowdown" in new business.

Hewlett-Packard Co. warned Wednesday that it's becoming "more cautious" about the revenue outlook during its current fiscal quarter, saying a slowdown in IT spending appears to be spreading to other parts of the world beyond the United States and Europe.

Antivirus software vendors are reporting that a new worm written to take advantage of Microsoft Corp.'s Outlook e-mail software is quickly spreading itself by luring unsuspecting users to open an attachment that supposedly contains a "really cool" Web page.

Dell Computer Corp. disclosed plans Monday to eliminate up to 4,000 more jobs, a cutback move that comes just three months after 1,700 employees were let go in an earlier round of layoffs.

Commerce One Inc. joined the chorus of B2B software vendors warning about weak financial results, disclosing on Tuesday that an expected first-quarter loss will now likely be three times larger than previously predicted because of a shortfall in revenue.

John Roth, Nortel Networks president and CEO, is blaming economic downturn in the United States as the reason for the company

Business applications vendor J.D. Edwards & Co. Monday warned that it expects to report a loss for its fiscal first quarter and said it's bringing in a new chief operating officer, plus another executive who will take over direct responsibility for the company's marketing activities.