Items tagged with job cuts
As part of a restructuring plan, Cisco is laying off 5,500 employees, which represents approximately 7 percent of its global workforce. The announcement comes at the tail end of a successful quarter that saw the networking company post a profit of $2.81 billion, or 56 cents a share, up from $2.32 billion, or 45 cents...
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Following a $1.2 billion accounting scandal that involved fraudulent reporting of fake profits over a seven-year period, Toshiba has gone into a restructuring mode as it attempts to pick up the pieces and regain the trust of its customers and investors. Part of that plan includes the termination of some 6,800...
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To anyone following the processor wars and PC landscape as a whole, it probably won't come as much surprise that Advanced Micro Devices, a chip designer headquartered in Sunnyvale, California, is reportedly planning to slash its workforce by around 5 percent. That works out to about 500 employees.
The last official count from AMD had the
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Hewlett Packard is getting ready to eliminate as many as 30,000 jobs and likely no less than 25,000 as it splits away from its printer and PC business. All of the job cuts will be associated with the newly formed Hewlett Packard Enterprise (HPE), a separate entity that HP expects will pull in more than $50 billion in...
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To cope with a PC market that continues to see declining sales and cut operating expenses, Seagate is reportedly preparing to slash around 1,050 jobs. That amounts to a 2 percent reduction in the company's total workforce, which currently sits at around 52,200 employees.
Seagate's bean counters say the layoffs will...
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The tough times continue for Samsung as it reportedly prepares to hand out pink slips to 10 percent of the staff at its headquarters in South Korea. This follows previous rounds of cuts at Samsung in general following a restructuring effort dating back to before the Galaxy S6 and Galaxy S6 Edge launch.
According to...
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It's hard to believe that Samsung's future is in question after all the success the South Korean electronics giant has enjoyed the past few years. Yet that's the situation facing Samsung -- following a disappointing quarter in which the company's flagship Galaxy S5 didn't sell as well as anticipated, there's now talk...
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Sprint is planning to reduce its workforce by approximately 2,000 employees, or 6.5 percent, a move the company says will save $400 million annually on labor costs. Unfortunately that is what is has come to for Sprint -- looking for ways to cut costs following a dismal quarter underscored by an operating loss of $192...
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Hewlett-Packard, the second largest supplier of PCs in the world, announced financial results for its fiscal 2014 second quarter ended April 30, 2014. The company grew its profits year-over-year by 18 percent to $1.3 billion on $27.3 billion in total revenues, though despite the profit growth, HP said it plans to cut...
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In a desperate bid to save a sinking ship, Alcatel-Lucent, a global mobile phone manufacturer and telecommunications equipment company, is planning to reduce its workforce by around 10,000 employees by the end of 2015, the firm announced today. The job cuts are part of what Alcatel-Lucent is calling "The Shift Plan,"...
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At a time when consumers are trending towards mobile products like smartphones and tablets, Texas Instruments has decided it can flip a bigger profit by focusing its energies elsewhere. As such. TI is planning to slash 1,700 jobs as it scales back its mobile processor business and transitions to other areas, like cars...
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HP announced more bad news for employees who are already facing massive job cuts: it plans to slash even more positions than expected. That number was a projected 27,000 lost jobs by 2014. Now, reports suggest that the company is eyeballing an additional 2,000 cuts, or 29,000 total slashed jobs by the end of that same forecast period. Amid...
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Sony Mobile is letting go of 1,000 employees, or 15 percent of its overall workforce, as the company prepares to relocate its corporate headquarters and certain other functions from Lund, Sweden, to Tokyo, Japan, the company announced today. The goal with all of this is to put Sony Mobile in a better position to bring products to market in...
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Google might be one of the greatest companies to work for on the planet (if you die while working at Google, your spouse or significant other will receive 50 percent of your income for 10 years, which is just one of many awesome perks at Google), but it's not immune to job cuts. In fact, the Mountain View company...
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Job cuts in the tech industry has become an all too common theme in the past couple of years, and the latest round of redundancy reductions is set to take place at Logitech. The peripheral maker announced plans to restructure its operations and simplify its organization to "better align costs with its current business...
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Job cuts are an unfortunate part of doing business, especially when times get lean and investors grow antsy with dwindling profits (or increasing losses). When they do happen, you just hope too many people aren't affected. No such luck for Sony workers. The electronics juggernaut is reportedly getting ready to axe 10,000 workers, which represents...
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Yahoo today confirmed plans to hand out around 2,000 pink slips to its employees, which is roughly equivalent to 14 percent of its workforce. The planned layoffs are an attempt to turn things around at Yahoo in a massive reorganization effort led by the company's new CEO, Scott Thompson, the former PayPal president who joined Yahoo in January...
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Job security is tough thing to come by these days, a fact that resonating in various departments at International Business Machines (IBM), the third-largest publicly traded technology company in the world and the largest computer services supplier on the planet. Despite its credentials and standing in the global...
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Now's not a fun time to be working at Panasonic, not when you're constantly looking over your shoulder wondering if the corporate axe will come crashing down. Over the next two years, Panasonic said it plans to hand out another 17,000 pink slips and turn out the lights at up to 70 factories in order to trim costs and remain competitive. This...
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Yahoo isn't the only one handing out pink slips in place of holiday bonus checks. According to a Bloomberg report, Nokia plans to cut as many as 800 jobs in Finland after completing talks with unions. Those getting axed will have the option of voluntarily resigning in exchange for a severance package equivalent to 5 to 15 months worth of salary,...
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The music industry dealt what appeared to be a fatal blow to LimeWire by winning a court injunction against the peer-to-peer file sharing service. Desperate to keep the ship afloat, however, LimeWire CEO George Searle confirmed that the company recently laid off 29 of it's 100-person workforce, according to a report in The Wall Street Journal....
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