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To: Oeconomicus who wrote (9839)12/2/2001 12:06:47 AM
From: Bill Harmond  Respond to of 57684
 
From Briefing Froday: 16:13 ET Avici Systems (AVCI) 2.90 +0.08: Provider of core routing solutions for the Internet announces that it has further reduced its workforce by 40 employees, or approximately 12% of workforce. "As we see market conditions remaining flat through the first half of 2002, we are taking this action to further reduce our expenses, conserve cash and drive the company to profitability," said CEO.



To: Oeconomicus who wrote (9839)12/6/2001 10:59:14 PM
From: Bill Harmond  Respond to of 57684
 
From Briefing. [Williams, you can pay me now, or pay me later!] 13:47 ET Avici Systems (AVCI) 2.85 +0.03 (+1%): Co and Williams Communications have amended their existing procurement agreement, including extending its term through Dec. 31, 2003. The amended agreement provides for an upfront cash payment to Avici in the amount of $8.5 mln , including $2.7 mln for additional product deliveries to be made prior to Dec. 31, 2001, and $5.8 mln in lieu of specific purchase commitments in the original agreement. Williams can apply the $5.8 mln as a credit towards future purchases.