Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Network Associates (NET) -- Ignore unavailable to you. Want to Upgrade?

To: Ojing Eo who wrote (2338)	4/7/1998 11:44:00 AM
From: Cyclops	Respond to of 6021

NETA closes Herndon, Va. (Netg) headquarters. NETA terminated about 250 employees effective last monday. The reasoning behind the motive is that the two department worked on the "wheel" project. However, Cisco brought out the company that licensed the technology to NETG. Cisco would not renew the rights to the technology for NETA so NETA has little choice but to eliminate the two departments related to that technology. I understand that NETA offered the Herndon, Va. employees positions in California. However, those who decided not to move received very generous severance packages. It seems NETA is making more efforts to keep their employees happy now since qualified employees are getting harder to find. If the technology market does not tank this week, it seems NETA will break through 68 and retest the old highs.