Broad reorganization at I.B.M. hints at successor to Gerstner

Article Abstract:

International Business Machines has promoted Samuel J. Palmisano to president, one of several elevations of younger executives in a plan to shake-up the computer giant in its transition to an Internet strategy. Chairman and CEO, Louis V. Gerstner Jr. announced the corporate strategy as one of not just personnel, but a focus on IBM's electronic business plan. John Thompson will become vice chairman, in charge of the new e-business project. The corporate focus is to put the company's billions of investment into "intelligent infrastructure" for the Internet.

Computer and Office Equipment, Office & Computing Machines, Executive changes & profiles, Office equipment, International Business Machines Corp., IBM, Appointments, resignations and dismissals, Gerstner, Louis V., Jr., Palmisano, Samuel J., Thompson, John M.

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Compaq to cut 5,000 jobs; profit forecast is lowered

Article Abstract:

Houston, TX-based Compaq Computer Corp. plans to save $500 to $600 million a year by cutting 5,000 jobs. Compaq also forecast that its first-quarter per-share earnings will be one-third lower than expected. The company is being hit by a slowdown in consumer demand for its servers and PCs and by corporate capital-spending cuts.

Personnel administration, Compaq Computer Corp., CPQ

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Hewlett-Packard warns of dismal earnings and job cuts

Article Abstract:

Hewlett-Packard sees a decline of 2 to 4 percent in revenue for the quarter and expects to have earnings of 13 to 17 cents a share, whereas it earned 44 cents a share a year before. The company will make personnel cuts of up to 3,000 jobs at the managerial level over the next two months. The firm will not pursue expansion of its inkjet printer line, and will write off costs of $50 million.

Hewlett-Packard Co., HWP

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