I have recently run into an issue on my test servers with my SQL 2000 log files being full. This has caused many of my jobs to fail unexpectedly. In my research, I have found the following MS Knowledge Base article addressing how to shrink the transaction log files. It also includes instructions on how to backup the log file before the shrink, in order to mitigate losing any data.
Shrinking the Transaction Log in SQL Server 2000 with DBCC SHRINKFILE