Short Reports

Sat., Aug. 14, 1999

From Staff

Texaco Inc., which announced last year that it was cutting 1,400 jobs to trim costs, revealed Friday that it had actually cut 2,500. Texaco said last year the job cuts would help it remain profitable.

Internet search portal AltaVista.com is now offering consumers free online access. To sign up for AltaVista FreeAccess, users must provide the company with demographic information including their age, sex and ZIP code, as well as their online shopping habits and favorite Web sites. The information will be used to customize ads sent to users.

Iridium LLC slid into bankruptcy on Friday, unable to pay its debts on a satellite-based mobile phone network that cost billions to build, but attracted only thousands of users. The international consortium, led by Motorola, said it is filing for protection from its creditors in a Delaware court under Chapter 11 of the federal bankruptcy code.

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Short Reports

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