Citigroup on Wednesday is expected to announce its restructuring plan and information technology consolidation is likely to be a big component. Bloomberg is reporting that Citigroup may cut 17,000 jobs as the result of a three month efficiency review designed to cut annual expenses by $1 billion.
The top three highest paid chief information officers in 2006 work for financial services firms. Timothy Shack of PNC Financial Services had a total 2006 compensation of $5.94 million, followed by Gregor Bailar of Capital One at $4.5 million and Steven Sadoff of Knight Capital Group at $1.99 million.
Update 3: By 4 p.m. Bank of America's online banking systems were back up.
Adobe reports its third quarter earnings after the closing bell Tuesday and analysts will be looking forward to comments about its flagship Creative Suite 4, which will be unveiled Sept. 23.
Forrester Research in a report is confirming that the credit crunch is beginning to hit technology services firms.The extent of the damage is unclear, but IBM's lower-than-expected third quarter revenue (its earnings are stronger than expected) may indicate something worse is afoot.
Intel got an upgrade Tuesday on the theory that the chip giant's third and fourth quarter results will be decent amid a weak global economy.Piper Jaffray analyst Auguste Richard upgraded Intel to buy from neutral based on the theory that the chip giant can top low expectations.
Dell reports its fiscal second quarter results on Thursday after market close and analysts are turning optimistic about the company's turnaround prospect amid better consumer notebook designs, emerging market revenue and solid server sales growth.Dell is expected to report fiscal second quarter earnings of 36 cents a share on revenue of $15.
Vonage has narrowed its losses two consecutive quarters, but it remains to be seen whether the company can grow.The company reported a second quarter net loss of $7 million, or 4 cents a share, on revenue of $228 million.
Software as a service company Entellium's future is uncertain after its CEO and CFO were arrested by the FBI for inflating sales to land venture capital.The U.
Negotiating hardware deals with Dell isn't for everybody. In fact dealing with Dell can be downright difficult relative to other hardware vendors.