Stories by Craig Stedman

  • Recession Pares IT Budgets, but CIOs Keep Projects on Track

    As the economic recession continues to deepen, double-digit budget cuts, hiring freezes and layoffs are becoming a fact of life in many IT departments. But some CIOs are managing to keep both their staffs and their rosters of ongoing IT projects largely intact - due partly to a desire on the part of business executives to use technology to reduce corporate costs and boost revenues.

  • Buy.com slashes workforce as sales plummet

    Embattled online retailer Buy.com, which late last week agreed to a buyout offer from its founder, yesterday disclosed plans to lay off 40 per cent of its workers and said second-quarter revenue was less than half of what the company reported for the same period a year ago.

  • Buy.com selling itself to founder

    In yet another sign of the financial depths to which many online retailers have sunk, struggling Buy.com has announced a deal to sell itself to company founder Scott Blum for just US$23 million.

  • Accenture plans layoffs, sabbaticals

    Accenture became the latest IT consulting firm to set workforce reduction plans on Thursday, disclosing that it's looking to cut about 1,400 jobs through a combination of layoffs and voluntary sabbaticals.

  • HP warns of widening slowdown in IT spending

    Hewlett-Packard has warned that it's becoming "more cautious" about the revenue outlook during its current fiscal quarter, saying a slowdown in IT spending appears to be spreading to other parts of the world beyond the US and Europe.

  • Dell cuts up to 4,000 more workers

    Dell Computer has disclosed plans to eliminate up to 4,000 more jobs, a cutback move that comes just three months after 1,700 employees were let go in an earlier round of layoffs.

  • Compaq foresees ‘difficult' first half

    Compaq Computer last week reported fourth-quarter financial results that hewed closely to a reduced-expectations warning issued last month and said that it expects market conditions to be "difficult" during the first half of this year.

  • Compaq names Capellas chairman

    Compaq Computer announced yesterday that Michael Capellas, its president and CEO, is taking the additional position of chairman - a job he takes over from Benjamin Rosen, who had headed the company's board of directors since 1983.

  • IBM partners on inventory system

    IBM and Industri-Matematik International, a Swedish vendor of order-management software, next week plan to announce a combined set of inventory replenishment applications aimed at retailers.