OT, Fri: 3Dfx to cut 20 percent of workforce

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(sorry if repeat; didn't see this Fri article here)

Link:

http://news.cnet.com/news/0-1006-200-1543077.html?tag=pt.isyndicate.hl.ne

3Dfx to cut 20 percent of workforce

By Bloomberg News

Special to CNET News.com

February 4, 2000, 4:35 p.m. PT

3Dfx Interactive, one of the biggest makers of computer-graphics chips, said it will fire 130 people, or 20 percent of its workforce, as it seeks to cut costs and return to profitability. The work force reduction includes firings and attrition in areas where there are overlaps and inefficiencies, including administration, operations, sales and software support, the San Jose, Calif.-based company said.

Also as part of its cost-cutting moves, 3Dfx said it will spin off its Special Technologies Group, which designs video and display products for commercial use in workstations running Microsoft's Windows NT operating system.

3Dfx said in November that it had a third-quarter net loss of $17.6 million, or 73 cents a share.

It's expected to report a fourth-quarter loss of 56 cents a share, the average estimate of three analysts polled by First Call/Thomson Financial.

Copyright 2000, Bloomberg L.P. All Rights Reserved.

-- Hokie (Hokie_@hotmail.com), February 05, 2000

Answers

HHhhhmmmm, Coke, banks, insurance, computer maker's, this 20% reduction seems pretty popular for January. Anyone keeping a running tab on the total of all the announcements made so far this year.

-- Squid (ItsDark@down.here), February 06, 2000.

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