The suit, filed in a Florida state court against PricewaterhouseCoopers, contends that Coopers & Lybrand, a predecessor firm, "failed miserably in its duties" when it recommended restructuring steps that the company says proved to be highly damaging.
The email to employees notes absurdly that the "restructuring steps we have taken have laid the groundwork for an exciting new chapter of innovation for MySpace" (with nearly half of MySpace staff now laid off, the few that are left are thinking about everything except innovation).
Ricoh is the latest Japanese company to announce restructuring steps after the March 11 earthquake and tsunami.
"They may soon announce additional restructuring steps, as what's already out there is not that drastic.
The second-quarter restructuring steps were the initial moves in previously announced plans to revamp Interpublic by cutting expenses faster and deeper than under previous management.
Hurt by high costs and a decline in smoking, Japan Tobacco Inc. will speed up job cuts and other restructuring steps to increase profit.
Calls by Mr. Berlusconi's critics for his resignation doubled over the weekend after Italy last week agreed to allow the International Monetary Fund to monitor restructuring steps aimed at containing its ballooning debt and boosting its stagnant economy.
"To continue to move forward, we now need to take the difficult but necessary restructuring steps that will continue to maximize profitability across the company," Alcoa's chief executive, Alain J. P. Belda, said.
The restructuring steps we have taken have laid the groundwork for an exciting new chapter of innovation for MySpace.
IT market woes have plunged these companies into a harsh position in which they were left with no alternative but to conduct workforce-downsizing programs and other restructuring steps.
