March 18, 2009

IBM in talks to buy Sun Microsystems

According to Reuters, Yahoo News: “IBM is in talks to buy Sun Microsystems Inc for at least $6.5 billion, The Wall Street Journal reported, in a deal that could bolster their computer server products against rivals such as Hewlett-Packard Co.

That would translate into a premium of about 100 percent over Sun’s Nasdaq closing price Tuesday of $4.97 a share, the paper said, citing people familiar with the matter.”

Sun stock is down 71 percent in the last 52 weeks, a far cry from an all-time high of $258.75 that it touched during the dot-com boom. The company — which is shedding up to 6,000 jobs, or 18 percent of its workforce — reported a net loss of $209 million for its second quarter ended December 28, compared with year-earlier net profit of $260 million. Revenue fell 11 percent to $3.22 billion.”

January 17, 2009

Layoffs at Redmond.

Filed under: hardware,US — 7macaw @ 1:34 pm
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TTM Technologies, Inc. (Nasdaq:TTMI), North America’s largest printed circuit board (PCB) manufacturer, today announced that it will close its Redmond, Washington facility during the first quarter of 2009 due to weakened demand for commercial PCBs.

The Redmond operation, which primarily produces commercial printed circuit boards, employs 374 full-time employees and 55 temporary employees. In addition to the Redmond closure, TTM is reducing headcount at other plants by approximately 140 employees. The combined layoff represents approximately 14 percent of the company’s work force.

Source: GlobeNewswire

January 12, 2009

Seagate to lay off 10%

Filed under: hardware — 7macaw @ 8:13 am
Tags: ,

Seagate’s December sales were much worse than feared and the company is expected to respond to revenues falling off a cliff by sending up to ten per cent of its staff after them.

A restructuring could involve the closure of plants to reduce product capacity, reduction in research and development spending, and the loss of up to 5,400 jobs. It is expected to be announced later this month.

Source: The Register

Update (1-12-2009): Seagate will lay off 10 percent of its U.S. work force, or about 800 people, according to Business Week

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