Under the gun of analysts and investors, financially troubled Lucent Technologies Inc. Wednesday outlined an aggressive restructuring program that would cut 10,000 jobs and sell two plants. The massive program is intended to reduce expenses and to reverse eroding revenue.
Retail Web sites were perkier this holiday season than they were last year, according to tests conducted by Keynote Systems Inc., a San Mateo, Calif.-based firm that measures Web site performance.
Lucent Technologies Inc. dumped more bad news on its users Thursday morning, warning that it expects to report a "significant" loss for the current quarter and disclosing that its revenue total for the previous three-month period is being reduced by US$679 million.
Cisco Systems Inc. CEO John Chambers reassured an audience of 500 financial and industry analysts that the networking powerhouse is on track as it moves into 2001 despite the company
WorldCom Inc. announced major structural changes in the company earlier this month that involve creating two tracking stocks that would represent the two sectors of the company's business.