LayoffBlog.com

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.”

February 22, 2009

HP imposes staff wage cuts

Hewlett-Packard workers fired up their PCs Friday morning to find a long memo from Mark Hurd explaining why he was imposing wide-ranging pay cuts in an effort to prevent further job losses at the computer vendor.

HP CEO Hurd told employees yesterday that no more jobs would be axed for the foreseeable future. Instead he applied salary reductions across the board.

Executive council members will have base pay trimmed by 15 per cent; other execs will see base pay reduced by 10 per cent; “exempt employees” base salary takes a five per cent hit; and “non-exempt employees” base pay drops 2.5 per cent.

Source: The Register

February 11, 2009

Leak: Mass layoff in HP ProCurve project

Roseville, CA (February 10, 2009) Hewlett-Packard Company (NYSE:HPQ) has announced today it’s plans to lay off all network engineers-contractors from it’s ProCurve project in Roseville, CA (Sacramento area). Dozens of engineers are affected, according to leaks from different anonymous sources from inside.

Update (2-18-2009): HP cuts full year outlook, quarterly revenue missed expectations, according to Reuters

~Please feel free to submit your comments and updates regarding HP’s layoff

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