Wednesday, May 15, 2002

Honeywell to Lay Off 900 Workers "Honeywell International plans to lay off as many as 900 workers as it closes four of its advanced circuits facilities in near Minneapolis, saying an industrywide slump is forcing it to reduce capacity." "Honeywell on Tuesday closed its advanced circuits plant in Buffalo and laid off the factory's 200 workers. The plant manufactured electronic circuit boards used in such things as cell phones." "Another 550 people will likely lose their jobs when Honeywell closes another advanced circuits plant in Roseville, and another 150 administrative jobs will disappear as it closes facilities in Hopkins and Minnetonka. Honeywell expects to close those three facilities by the end of June." "After the cuts, New Jersey-based Honeywell will employ some 5,400 people in Minnesota in other divisions, but none in advanced circuits." 2:47:06 PM  Google It!  comment  []

HP to begin [15,000] worker cuts "About a week after its blockbuster merger with Compaq Computer, Hewlett-Packard will begin laying off employees this week as part of its plan to cut 15,000 positions." "Most of the job cuts will take place over the next six to nine months, but the entire process could take as long as two years, the Palo Alto company said." 1:15:23 PM  Google It!  comment  []

Four Men Are Charged With $600 Million Bank Fraud "Four New Jersey men were charged yesterday with defrauding banks of more than $600 million through an international scheme to secure loans for illusory metal-trading deals, federal authorities said." 8:41:46 AM  Google It!  comment  []