Body Count Update: June 4, 2001
Marcella Bernhard, Forbes.com, 06.04.01, 12:50 PM ET
The latest casualties of the economic downturn:
Palm (nasdaq: PALM - news - people), the maker of personal digital assistants and software, announced plans to lay off an undetermined number of workers in the first fiscal quarter of 2002 to cut costs. Last month, the Santa Clara, Calif.-based company reduced its workforce by about 300 regular and contract workers.
Veritas Software (nasdaq: VRTS - news - people) has laid off 400 employees, or 7% of its workforce, over the past two months to reduce expenses. The Mountain View, Calif.-based firm makes data-storage software.
Airborne (nyse: ABF - news - people) will cut 640 jobs, or 2.5% of its workforce, because of slowing demand from Airborne's corporate customers. The Seattle-based company is the shipping industry's third-largest player after rivals United Parcel Service (nyse: UPS - news - people) and FedEx (nyse: FDX - news - people).
Forest products company Weyerhaeuser (nyse: WY - news - people), manufacturer of wood and paper products, will lay off 235 workers, or 0.5% of its total workforce, from its mills in Springfield and Longview, Wash. The Federal Way, Wash.-based company said weak demand for linerboard and paper forced the layoffs. About 140 workers will be laid off in Springfield and 95 will be laid off in Longview.
Cummins Engine (nyse: CUM - news - people) will cut 500 jobs, or 1.8% of its total workforce, by mid-2002 as part of a restructuring effort. The engine maker will also halt development of a new engine line |
