JDS Uniphase plans more layoffs, trims results targets for quarter

Article Abstract:

Fiber-optic telecommunicatons gear maker, JDS Uniphase Corp., is downsizing about as fast as it grew, which is fast. The company, with dual headquarters in San Jose, Calif., and Ontario, Canada, will reduce its workforce by another 5,000 people and close 25 facilities. Company officials claim that its acquisitions result in some duplication; reorganization should make the smaller company more efficient and profitable. The firm is working with the SEC on how to write down the goodwill from all the acquisitions.

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Cisco posts loss of $2.69 billion; investors get limited hope in results for rebound to come in near term

Article Abstract:

Cisco Systems Inc. expects sales to decline up to 10% in the quarter ending July 28, as it reports a loss of $2.69 billion for the fiscal third quarter ended April 28. The firm also reports a one-time charges of over $3.4 billion. The firm does not expect to use or sell any of the $2.2 billion in excess inventory that it is writing down.

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Ebay customers pressure auctioneer to change plans for charge, bidding

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Ebay Inc. customers reacted to an announcement that the company would start charging $1.00 for reserve auction items by inundating their chat rooms with complaints. In response to the complaints the company has announced that they will drop the price to 50 cents per transaction.

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