Paul Gross, who oversaw the development of Microsoft’s wireless strategy for everything from Pocket PCs to mobile communication devices, will resign effective in July, Gross confirmed Friday. Gross is leaving the position as Microsoft begins a full-fledged campaign to incorporate wireless services into its overall strategy. “There is never a good time to leave,” Gross said in an e-mail interview. “But if you are going to leave, better to leave when your business is on a roll.”
Network equipment maker Juniper Networks Inc. said Friday it will cut its workforce by as much as 9 percent, or about 100 jobs, as second-quarter earnings and revenue will fall well below Wall Street expectations.
PepsiCo Inc.’s planned $14 billion purchase of Quaker Oats Co. has been delayed because of ongoing discussions with federal regulators about the deal, the company said Friday. PepsiCo, the nation’s No. 2 soft drink company, had predicted the stock deal would be approved by the Federal Trade Commission by the end of June. Company spokesman Tod MacKenzie declined comment on what issues prompted the delay, but said PepsiCo anticipates the talks with FTC officials will continue into the third quarter. He said the company is issuing no new prediction on when approval might be granted.
Aetna Inc. has told investors that it has been paying some claims twice and paying medical bills for people who are no longer members. The announcement Thursday was the latest in a series of financial problems at the company, which has struggled with high medical costs, lagging profits and controversy over its policies toward patients. Rowe said Aetna has not disclosed the amount it has overpaid, but said he believes it is millions of dollars.
Shares of Callaway Golf Co. fell nearly 19 percent Friday after the golf equipment maker warned that second-quarter earnings would be much lower than expected. The company blamed unusually bad weather, a slowing world economy and negative comments by the United States Golf Association about one of its drivers.
Nokia, the world’s biggest cell phone maker, plans to cut 300 jobs at its phone production plant in Bochum, Germany, to increase efficiency. The cuts announced Friday represent 10 percent of the 3,000 people employed at the Bochum factory, which focuses on the final assembly of cell phones.
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