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January 28, 2009

SAP cutting 3,000 jobs worlwide

Filed under: Asia,Germany,India,SAP,Technology,US,worldwide — DF @ 11:19 am
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SAP AG said Wednesday it will cut a little more than 3,000 jobs in response to the worldwide economic downturn.

The Walldorf, Germany-based software giant said it will reduce its work force to 48,500 by the end of the year, down from 51,536 at the end of last year. The cuts will enable it to save 300 million to 350 million euros a year starting in 2010, SAP said.

Source: Philadelphia Business Journal

January 21, 2009

BMW cuts 26,000 workers, may apply for state aid

Filed under: auto,Germany — DF @ 8:29 am
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According to AutoBlog: “Lagging demand has forced BMW to cut 26,000 workers for the months of February and March and BMW’s factories in Dingolfing and Regensburg will be effected by the eliminations, which will cut 38,000 units. BMW is also reducing hours at Berlin and Landshut to better align output with demand. The reduced production hours and labor cuts won’t result in any permanent layoffs, though a prolonged sales slump could lead management at the Bavarian Motor Werks to take more drastic action. The shrinking vehicle market is also hurting BMW’s stock price, which is down 49% over the past 12 months.”

Volkswagen, Europe’s largest carmaker, will shut five German factories from Feb. 23 to Feb. 27, affecting two-thirds of its 92,000-strong German workforce. Volkswagen’s closings will affect the factory at its headquarters in Wolfsburg as well as plants in Emden, Hanover, Zwickau and Dresden, trimming output of Golf, Passat, and Phaeton models, according to Bloomberg

January 8, 2009

Germany’s Job Creation Machine Sputters

SpiegelOnLine reports: “According to a report released on Wednesday by the Federal Labor Agency, which tracks German unemployment statistics, the number of jobless rose by 114,000 in December, bringing the total to 3.102 million or 7.4 percent.”

“On average, the total number of unemployed last year was 508,000 lower than in 2007. Analysts, though, anticipate that 2009 will see increased job losses in Germany.”

December 19, 2008

SAP India denies the layoff of 1,000 contract workers

According to ITExaminer: “SAP India has vociferously denied a report in the Financial Chronicle claiming the company plans to lay off over 1,000 company contract workers.”

“No layoffs, as are being reported, have been planned thus far; we are conducting a detailed evaluation on the basis of our business requirements and will realign all our resources to optimize operational efficiencies”.

However, SAP admitted that it had taken a “series of prudent and appropriate steps to assure cost-efficient operations of the company during this period of economic uncertainty”.

~ LayOffBlog.com:  Please feel free to comment this info or send us your updates regarding SAP layoffs worldwide. ~

November 24, 2008

Xing’s CEO Lars Hinrichs Steps Down, Denies LinkedIn Is Getting Any “Real Traction” In Europe

According to Techcrunch: “Germany-based business networking service Xing today announced its CEO Lars Hinrichs will step down and be replaced by Ebay Germany head Stefan Gross-Selbeck effective January 15, 2009.

Hinrichs founded the company in 2003 and led it to an IPO three years later at the Frankfurt Stock Exchange where the market cap is currently hovering at around $182 million. (Which is a fraction of LinkedIn’s reported $1 billion private valuation). He will join Xing’s supervisory board as a consultant.”

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