America Online, a Dulles-based
Internet services provider, laid off 750 employees,
mostly in its Virginia operations, as part of a continuing
cost cutting program. The cuts, which affect its marketing
and broadband divisions hardest, will save an estimated
$75 million in 2005. (The Washington Post)
Smithfield Foods, a Smithfield
producer of meat products, decided to reverse the merger
of its Gwaltney of Smithfield and Smithfield
Packing divisions. While some savings were achieved
in the merger undertaken in 2003, the combined organization
was judged too large and cumbersome to manage effectively.
(Daily Press)
