As a part of its restructuring efforts, the US Airways aims to trim its workforce by 1,000 employees, including 200 pilots, US Airways said in a statement on Thursday.

The airline, deeply in loss, will be reducing its number of employees in the first half of 2010. The lay-offs would include about 600 airport passenger and ramp service positions, approximately 200 pilot jobs and nearly 150 flight attendant positions.

In a letter to the employees, the carrier’s chairman and CEO Doug Parker said it was a difficult decision to make. “By focusing on our strengths and eliminating unprofitable flying, we will increase the likelihood of returning US Airways to long-term profitability, which is in all of our best interests. As we work through these changes, we’ll do all we can to minimise the impact of these reductions on our current employees,” Parker said.

US Airways had a third-quarter loss of USD 80 million.

In an attempt to cut down costs and bounce back with good profits, the Versace fashion house on Wednesday announced the company’s plan to lay off 350 employees. This effort of the company is also a part of its reorganization effort.

Versace said it will update its production and review store network. The fashion house is also planning to reduce the capital investments and overhead. These measures are expected to be implemented by the middle of next year.

In a statement on Wednesday, Versace CEO, Gian Giacomo Ferraris, said that the company is expecting to suffer financial loss in the year 2009 and these measures were necessary to help avoid any loss in future. Earlier this year, the company announced its first quarter revenue loss of about 13 per cent.

“No organization can allow a situation like this to continue, especially given the flat outlook for 2010,” Ferraris said.

On Wednesday, Qwest Communications International Inc. reported a heavy 6 per cent drop in the company’s third-quarter profits as customers continue to give up traditional landline telephones.

Quest has seen the toughest years in the recent past as the company is struggling to boost its sales which have plunged. Currently, Qwest has been offering local phone service in 14 Western states and customers have been siphoned off by competition from cable and cell phone providers.

Qwest ended the third quarter with roughly 7 million lines. These figures indicate a straight 12 per cent loss as compared to the figures a year ago. However, the company saw some progress with its broadband service as it added a total of 28,000 subscribers, bringing the total up by 6 per cent to nearly 3 million.

The Denver based company announced that it USD 136 million in the quarter ending September 20th. This is down from USD 145 million, as compared to a year ago.

On Tuesday, India’s third-largest software group Wipro reported a staggering 19 per cent rise in the company’s net profit. The company also forecasted an improving demand underscoring new optimism in the sector.

In the second financial quarter ending September, the Bangalore-based firm said it made an encouraging net profit of USD 248 million, (11.62 billion rupees) as it saw a huge six per cent rise in sales to 69.17 billion rupees.

In a statement on Tuesday, Aziz Premji, the company’s chairman said, “We see more stability in volumes and pricing as well as an improving demand environment.”

The global economic slowdown and the subsequent recession gripped western economies left a huge impact on India’s exporters as companies slashed technology spending and demanded lower rates for products and services.

According to Wipro, the company’s income from its IT services business was USD 1.06 billion, well exceeding from the company’s forecast of USD 1.11 billion for three months ending December.

The company became the third Indian IT major to report better-than-expected results, in addition to the larger rivals Tata Consultancy and Infosys Technologies which posted a 28.7 per cent and 7.5 per cent rise respectively.

Telecommunications services provider FairPoint Communications filed for Chapter 11 bankruptcy protection on Monday. This was done after a deal with the company’s key lenders that will help lower its debt by about 62 per cent.

For over three quarters, since the company’s switching over to its own computer systems in northern New England, FairPoint has been struggling under its large debt load and falling revenues, as well as customer-service, billing and other problems.

The bankruptcy filing was most expected as the company had already negotiated with the banks and bondholders to restructure the huge debt. This is expected to reduce the company’s debt to USD 1 billion from USD 2.7, a huge 62 per cent.

Based in Charlotte, N.C., FairPoint, currently owns and operates phone companies in as many as 18 states with a total of 1.65 million lines. The company’s largest holdings by far are in Maine, New Hampshire and Vermont. There the company has also bought Verizon communications Inc.’s landlines and internet network for a staggering USD 2.3 billion in 2008.

This is not expected to halt or affect in any way the company’s day-to-day operations or its efforts to expand its high-speed Internet network in northern New England, the company spokesperson said.

Surprising but true! Preliminary analysis on the third quarter growth in Britain shows that the country’s economy is still battling to come out of recession.

Though touted as the first estimates, UK’s economy had unexpectedly contracted between July and September by a margin of almost half a percent. This is reportedly the first time that the country’s economy has been in recession for six consecutive quarters since 1955.
UK’s Gross Domestic Product, GDP, shrank for the record sixth time consecutively hinting that the country still has to emerge out of the recession phase. The reason for this prolonged recession is reportedly the large debt burden on the British consumers.

UK’s GDP shrank by a 5.2 per cent margin as compared to the figures reported a year earlier. In contrast, the economists had expected a slow but steady growth of about 0.2 per cent in the third quarter.

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HP is celebrating a significant milestone in business technology and its imaging and printing portfolio with the 25th anniversary of its LaserJet printing solutions. The LaserJet printers have had phenomenal success in the Indian market, owing to constant technological innovation, channel trust and customer satisfaction. Added to this achievement, the company, recently, also announced various solutions to minimize the environment impact with features such as the Carbon Footprint Calculator, Instant- On technology, and Duplex Printing. Most of these LaserJet printing solutions are also ENERGY® star qualified.

From 1984 till date, HP has sold over 133 million LaserJet printers and one billion toner cartridges across the globe. In fact, two out of every five laser printers sold in business is a HP LaserJet printer, and over the last 25 years, HP has sold three times the laser printers of the next best seller!

Commenting on HP’s journey over the last 25 years, Samir Shah, Director – LaserJet and Enterprise Solution, Imaging and Printing Group, HP India said: “HP is extremely thankful to its customers and channel partners for helping us transform business technology from what is was in 1984, to what it resonates today – the concept of ‘in-house’ professional quality printing. In our 25th year of success in India, our core focus area is the environment. It has been built into the way we do business, and the LaserJet solutions will continue to see innovations in that context.”

HP’s LaserJet solutions have empowered customers to ideally print and manage office documents, thereby making communication simple, fast and effective. Mr. Shah further adds, “As the leader in the imaging and printing space, HP has set benchmarks in printing technologies, and developed agile tools that enable customers to better manage networked and secured printing within offices. In this sense, innovation is a core asset of our culture.”

The company’s accomplishments over the years – including the creation of the world’s first desktop printer, colour laser printer, smallest LaserJet printer, network laser printer, and multi-function device – has established HP as the industry leader in the printing solutions space. This leadership in the market is supported by the fact that HP’s printing solutions are aligned to what the customers want, and the strong relationship that the company shares with its channel partners across the country.

So far, the HP LaserJet has provided a wide range of products and services designed to provide unmatched reliability, usability and innovation to growing businesses; its new printing solutions in the category are designed to help customers manage, protect and grow their businesses during the challenging time. The current focus of the company is to reach out to printing intensive verticals with customized HP solutions and applications that deliver lower cost of ownership, and hassle-free printing.

Technologies that make the HP LaserJet Green

· HP Carbon Footprint Calculator – The HP Carbon Footprint Calculator for printing gives users the power to evaluate their energy consumption, paper use, carbon output and the associated monetary costs of their printing environment to understand how they can reduce their environmental impact through responsible printing. HP has been able to announce significant energy savings on its current LaserJet printers of up to 174% against competition.

· Instant- On technology - Instant-on Technology uses cutting-edge fuser technology to produce the first page faster when a printer is coming out of Power Save mode so the print job is done sooner. It uses 50% less energy than traditional fusing while offering up to 50% faster first page out speed. Also, it requires four times less energy when idle and 1.4 times less energy when copying, when compared to other printers.

· Duplex Printing - Duplex printing, also referred to as two-sided printing, allows users to print on both sides of the page, cutting paper use by up to 50%. By using the HP Web JetAdmin(1) or HP Universal Print Driver(2), IT teams can set duplex printing as the default mode of printing.