July 27, 2005 |
Iomega Corp., a maker of data-storage products for computers and networks, said it would cut 120 jobs, or about 30% of its workforce. The San Diego-based company is cutting jobs and consolidating facilities as part of a restructuring plan to reduce expenses. The job cuts and other steps will save Iomega as much as $42 million a year, the company said.
August 10, 2001
* Exide Technologies, the largest automotive-battery maker, will cut 1,300 more jobs, or 6.5% of its work force, and said its second-quarter and fiscal-year earnings will be lower than expected as orders from telecommunications customers decline. * * WebMD Corp. posted a second-quarter operating loss of $23.8 million, or 7 cents a share, compared with a loss of $55.5 million, or 28 cents, a year ago, meeting Wall Street's expectations. Revenue jumped 77% to $178.7 million.
June 19, 2001 |
Troubled computer equipment maker Iomega Corp. tapped a member of its board of directors as its new chief executive and president. Werner T. Heid replaces Bruce Albertson, who resigned last month over differences with the board regarding the company's direction. Heid's appointment comes on the same day Iomega said its second-quarter revenue would be down sharply from the same period last year.
May 22, 2001 |
Iomega Corp. President and Chief Executive Bruce Albertson has resigned amid differences with the computer storage company's board over strategic direction, the company said. The company also said several cost-cutting moves could soon be implemented, possibly resulting in restructuring charges and write-offs.
October 5, 1999
Iomega Corp. said it will fire about 140 workers, mostly outside the U.S., and take a $25-million to $30-million charge to cut costs and become profitable. The maker of the Zip storage drive for personal computers said it expects to report a third-quarter pretax loss of $5 million, excluding about $20 million of the charge. The remainder of the charge will be taken in the fourth quarter. News of the firings was released after the close of U.S. markets. Iomega shares closed up 38 cents at $3.
August 21, 1999 |
* Iomega Corp., maker of Zip and Jaz computer data storage systems, named its longtime chairman, David Dunn, interim chief executive after Thursday's sudden resignation of Jodie Glore. Glore, who had been with the company 10 months, had replaced James Sierk, an Iomega board member, who had served as interim chief executive after Kim Edwards was forced to resign 18 months ago. In June, the Roy, Utah-based company announced plans to cut nearly 10% of its work force.