Apple announces sweeping reorg

As expected, Apple announced a sweeping reorganization yesterday in an attempt to turn the company's recent financial problems around. Steve Jobs got a seat on Apple's executive committee and Steve Wozniack received an advisory role. Avie Tevanian of NeXT Software now leads the software engineering group. Tevanian created the Mach kernel used in NeXTStep and was the lead proponent of the operating system at NeXT.

Apple was also expected to announce layoffs, but the company only mentioned that an "elimination of positions" would come soon. Apple's stock closed yesterday at 15 3/8, its lowest point ever as analysts voiced doubts that Gil Amelio can turn the company around. Amelio has always stated that an Apple turnaround will take three years.

Today, Apple's is holding its annual shareholders meeting which is expected to be tumultuous

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