UNION PACIFIC TO CUT 2,000 JOBS: Union Pacific Corp. said it plans to eliminate 2,000 jobs in the coming months, citing rising fuel prices, harsh winter weather and growing signs of an economic slowdown. The job cuts are in addition to 1,600 jobs that have been eliminated since August as the result of the railroad's 1995 merger with Southern Pacific Rail Corp. and 4,638 seasonal winter layoffs announced this month. The company said the jobs cuts will mean an after-tax charge of roughly $70-million in fourth quarter of 2000, or 26 cents per fully diluted share. Shares of Union Pacific rose $1.44 to $52.63.
QUEPASA.COM TO CEASE OPERATIONS: Bilingual portal Quepasa.com said it will liquidate its assets, becoming the first big dot-com targeting the Latino market to crash and burn. Quepasa has been looking for a buyer since May. It received a delisting notice from the Nasdaq market last week for falling below a $1 bid price for 30 consecutive days. Trading was halted Wednesday at 9 cents a share.
TREASURY AUCTION: The U.S. Treasury sold $10-billion of two-year notes at a yield of 5.13 percent. The yield is down from 5.695 percent at the last auction on Nov. 29. Tenders totaled $25.09-billion.