Seeing Red And Pink - Industry Trend or Event - Brief Article

Industry Standard, The, April 16, 2001

Blue chip American Express said junk-bond losses would crimp profits; FedEx warned fewer shipments will hurt its forecast. Citigroup and Credit Suisse First Boston trimmed their workforces. Among Net firms, broadband carrier Winstar will lay off approximately 2,000 and abort its network buildout.

Inktomi will miss estimates and slash 25 percent of its staff; ditto for Akamai, which will dismiss 14 percent. Ariba and i2 Technologies are cutting forecasts and employees as well.