Nortel Networks plans an additional 10,000 job cuts, on top of the 20,000 it announced in April, after warning of deeper losses and less revenue than expected. Another telecom gear maker, JDS Uniphase, also said its revenue would be much lower than expected.
The efforts of U.S. Rep. Billy Tauzin, R-La., to lift restrictions on the regional Bells hit a snag last week. After sailing through the committee that Tauzin controls, his bill was given a negative recommendation by the House Committee on the Judiciary. It heads to the House floor next. The Bells said they will do better before the full House.
Oracle unveiled its new database software, Oracle9i, as Chairman Larry Ellison announced he was dropping "power unit" pricing. Instead of charging based on the number and speed of a customers processors, Oracle will simply charge on a per-processor basis.