Xerox names CEO
Xerox Corp. appointed Anne Mulcahy as president and chief executive Thursday, making her one of only five female CEOs of a Fortune 500 company.
Mulcahy, formerly president and chief operating officer, succeeds Paul Allaire as CEO.
The copying machine manufacturer has been scrambling for more than a year to cope with stiff competition, a botched sales-force reorganization, sluggish sales and a sharp drop in its stock price. It is in the midst of a turnaround effort that includes the sale of billions of dollars in assets and the reduction of 8,600 jobs.
Mulcahy's appointment came a day after Xerox posted a second-quarter loss of $281 million.
Allaire will continue as chairman until his retirement at the end of the year.
College to offer degree in computer security
A Pennsylvania university will offer a bachelor's degree in computer security, training students to protect computer systems from hackers.
The program at East Stroudsburg University, billed as the first undergraduate major of its kind in the country, will be offered in fall 2002.
For the first two years, computer security majors will take courses similar to those taken by computer science majors, while the third and fourth years will feature specialized security courses.
The university expects about 15 students to enroll in the first year of the program.
Goodyear wins contract to supply Postal Service
Goodyear Tire & Rubber Co. will supply the U.S. Postal Service with tires for the next decade at a cost of $115 million, the Postal Service announced Thursday.
Goodyear will become the sole supplier of tires for the Postal Service's more than 200,000 trucks, vans and delivery vehicles with the start of the new fiscal year in October, officials said.
The agency now buys tires from Goodyear, Bridgestone-Firestone and Michelin North America.
Under the deal, the Postal Service is expected to buy about 235,000 tires annually during the next 10 years.
Economic slump pushes Infineon to cut jobs
German chipmaker Infineon Technologies AG said Thursday that it would cut 5,000 jobs, or about 14.2 percent of its work force, to save money amid global weakness in the technology sector.
Chipmakers have been affected by the slowing world economy that has depressed demand from technology companies for computer chips.
The job cuts will be made during the next 12 to 18 months, Infineon said, and should help save about $880 million.