LayoffBlog.com

January 28, 2009

Time Warner to Cut 10% of AOL Jobs, Halt 2009 Raises

According to Bloomberg: “Time Warner Inc.’s AOL online unit will cut as much as 10 percent of its workforce because the U.S. recession has forced advertisers to reduce spending.

Employees won’t receive merit pay increases in 2009, New York-based AOL said today in a memo to workers. The number of people fired will total 700, said a person familiar with AOL’s plans.”

“The Warner Bros. film and television unit is eliminating or outsourcing 800 positions. Publishing division Time Inc. said in October it would cut 600 jobs, or 6 percent of the workforce.”

January 23, 2009

Digg.com lays off 10% of its workforce

Filed under: IT,media,social network,US — 7macaw @ 4:32 pm
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The popular social news site, Digg announced on Thursday that it will cut off 10 percent of its 75 person workforce. The San Francisco Company stated that it aims to focus on developing an advertising infrastructure that will help it to get to profitability in 2009.

On the company blog on Thursday, Digg’s Chief executive, Jay Adelson confirmed a “headcount reduction in certain areas”. Jay Adelson wrote that the overall job cuts at the 75-person company will be “microscopic in size”.

Source: TopNews

January 22, 2009

Microsoft slashes up to 5,000 jobs

Software maker Microsoft Corp. announced Thursday it will cut up to 5,000 jobs in the next year and a half, or 5.5% of its global workforce, citing further deterioration of global economic conditions.

Microsoft will slash 1,400 positions immediately, with the rest of the cuts coming by June 2010. The company also said it will freeze employees’ pay in 2009.

Source: CNNMoney

January 21, 2009

Microsoft expected to cut jobs as profit weakens

According to Reuters: “Microsoft Corp is expected to post a quarterly profit that misses its own target and announce thousands of job cuts this week as the global economic slump hurts even the technology industry’s biggest players.”

“Checks indicate that Microsoft is likely to engage in headcount reductions to the tune of 6,000 to 8,000 employees or 6 percent to 8 percent of its 95,000 workforce, ” said McAdams Wright Ragen analyst Sid Parakh. Other analysts suggest the cost reductions may occur in the next few weeks and could also include more targeted cutbacks and attrition, rather than the big number of layoffs that some have speculated.

  • Microsoft has declined to comment on any likelihood of job cuts.

Yahoo cuts 20% of French Staff

Filed under: IT,worldwide,Yahoo — 7macaw @ 8:15 am
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Yahoo (NSDQ: YHOO) is cutting about 52 staff from its 251-strong French operation under the group-wide reductions announced from the company’s Sunnyvale headquarters in October.

The engineering staff is taking a big hit from the restructuring, as Yahoo’s French sites carry proportionally more engineers than other locations, the company told AFP: “The category of engineers is the most affected by the cuts at the global level.” The cuts will come from both of Yahoo’s French sites, in Paris and Grenoble.

Source: paidContent.org

January 20, 2009

UK: IT jobs decline by 24% in three months

Filed under: IT,IT consulting,UK — DF @ 1:15 pm
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According to ComputerWeekly: “Compared to the previous quarter, there were 24.3% fewer jobs advertised from October to December than there were from July to September.

Some job roles saw larger drops in demand than others. Skills still in demand include Oracle, Java, SQL, C#, .net and SAP.”

Finance is still the most affected sector, with a drop of 32.1% in demand. Software houses saw demand fall 21.6%, and manufacturing, retail and media all saw falls. The public sector was the only one to buck the trend, with 9.5% more jobs being advertised since the previous quarter.”

“Recruitment is down by 27.5% in the north east of England, 17% in Scotland, 22.1% in the south of England, and 10% in Wales and the west of England.”

January 14, 2009

Google to Lay Off 100 Recruiters

Google is laying off 100 recruiters and closing some engineering offices, as the downturn continues to take its toll. The layoffs, disclosed Wednesday in company blog posts, are a very rare step for Google, which said in October that it is still hiring, but much more cautiously. The company has also recently let go a significant number of contractors in areas ranging from public relations to engineering, according to Reuters and WSJ

Update 1 (1-14-2009): According to official Google blog: “Our first step to address this was to wind down almost all our contracts with external contractors and vendors providing recruiting services for Google. However, after much consideration, we have with great regret decided that we need to go further and reduce the overall size of our recruiting organization by approximately 100 positions.”

Update 2 (1-14-2009): Google’s Changes to Engineering in 2009

January 13, 2009

Yahoo names Bartz new CEO

According to CNN Money: “Yahoo Inc. announced Tuesday that it had hired veteran technology executive Carol Bartz as its new CEO.”

“Bartz ran software company Autodesk (NASDAQ:ADSK) for 14 years, most recently serving as executive chairwoman. San Rafael, Calif.-based Autodesk, with just over 7,000 employees worldwide, is about half the size of Yahoo.”

“Bartz is taking over an embattled Yahoo. In mid-November, co-founder Jerry Yang stepped down after failed attempts to improve the company’s performance.”

India: Infosys Q3 net rises 33% on higher earnings growth

Filed under: FYI,India,IT,IT consulting,News — DF @ 3:16 pm
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According to TheHinduBusinessLine (India): “Infosys posted better-than-expected earnings growth for the December quarter aided by a weaker rupee and improved operational efficiencies, but missed its forecast in dollar terms hurt by volatile currencies.”

Infosys added 30 new clients during the quarter, and the gross employee addition was 5,997. Mr T.V. Mohandas Pai, Member of the Board, said the number of employees joining during the fiscal has been increased to 27,000 from 25,000.”

January 11, 2009

Indian IT union expects at least 50,000 job losses in India

Filed under: India,IT,IT consulting,outsourcing,worldwide — 7macaw @ 8:26 am
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The Union of Information Technology Enabled Services (UNITES) Professionals, India anticipates at least 50,000 job losses in the first half of the new year, owing to the global recession.

UNITES general secretary, Karthik Shekhar, a computer engineer, formerly with International Business Machines (IBM), says the prediction of another 50,000 job losses has been estimated from the uncertainty of U.S. president-elect Barack Obama’s new policy on outsourcing, the bail packages by the British government and financial institutions which may result in conditions being imposed on local jobs.

[I]ndustry’s economic links to the U.S. and Britain’s recessions have played havoc on the local scene, with at least 10,000 jobs in the industry being lost between September 2008 and December 2008. Others, mostly junior level executives, have taken salary cuts ranging from 25 percent to as high as 75 percent.

Source: Manufacturing Business Technology

January 9, 2009

Satyam’s Computer Services Chairman Arrested , Board Sacked, in Fraud Probe

According to Bloomberg: “Satyam Computer Services Ltd. chairman Ramalinga Raju and his brother Rama were arrested and the remaining directors of the software exporter sacked, as India started investigating an alleged $1 billion fraud.”

“Satyam, India’s fourth-largest software exporter, plunged for a second day in Mumbai trading on concern it may run out of money after Raju said he falsified the accounts “for several years.” The scandal, whose scope is being likened to the 2001 bankruptcy of Enron Corp., has shaken confidence in Indian companies and accounting standards.

“The Satyam case is an aberration,” Prem Chand Gupta, the Corporate Affairs Minister said. “The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.”, according to BBC

Update (01-10-2009): “The chief financial officer of India’s Satyam Computer Services Ltd. was arrested Saturday, the third person taken into custody in a scandal that began when the company’s chairman admitted inflating profits with “fictitious” assets and non-existent cash.

Company founder B. Ramalinga Raju and his brother, Rama Raju, Satyam’s managing director, were arrested Friday in connection with the scandal. In a letter written to investigators, B. Ramalinga Raju admitted that he and his brother were responsible for cooking the books at Satyam”, according to CNN

Satyam founder B. Ramalinga Raju

Satyam founder B. Ramalinga Raju

Update 2 (01-10-2009): According to Naatmad: “Satyam Computer Services, [..] has said it will take fewer people on board to cut costs due to the unstable global economic environment. The company is planning to hire only 8,000-10,000 people this fiscal as against 15,000 that it had earlier planned to recruit. [..] Around 250 employees were given the pink slip last quarter.”

Update 3 (01-14-2009): According to BusinessStandard (India): Satyam may get full-time directors in a week

~ LayOffBlog.com: Please feel free to comment this info and/or send us your updates regarding scandal at Satyam. ~

January 8, 2009

Google Layoffs: 6000 Cut – Details Kept Off Web

WebGuild reports: Today, in documents obtain by the Associated Press, Google filed a paper document with the SEC stating that “a substantial number of temporary workers” had been laid off. The company has sought special exemption to keep the document from circulating on the Web.

The document states that Google has 24,400 employees, however on  September 30, 2008 the company reported  to the SEC that it had 20,123 employees when in reality it had 30,000. At that time Google did not report the 10,000 temporary employees to the SEC, because Google wanted the option to lay off employees on demand to meeting earning expectations without reporting to the SEC.

Now the company says 4,300 of the 24,400 employees are temporary. So why report temporary employees now and not then? Why get an exemption to keep the documents private?

Further the company reported 30,000 employees on November 24, 2008 and 24,400 on Dec 15, 2008. Where did 6,000 employees disappear to in 3 weeks?


January 7, 2009

EMC Will Reduce Work Force by 7 percent

Data-storage firm EMC Corp. (NYSE:EMC) will cut 2,400 positions (7% of its work force) as part of an effort to reduce costs by about $350 million in 2009 and $500 million in 2010.
The restructuring plan will streamline costs to its information infrastructure business and doesn’t include VMware Inc. VMware’s parent company, EMC, owns 85% of the company’s stock, according to WSJ

By rumors, the most job cuts are planned in the company’s IT sector

European investors unfazed by “India’s Enron” in IT

According to Reuters: “European investors remain upbeat about India despite an accounting scandal at IT company Satyam Computer Services (SATY.BO) that sent Indian markets tumbling on Wednesday.

Shares in the IT group fell almost 80 percent after founder and chairman Ramalinga Raju admitted inflating the company’s reported cash and bank balances by over 50 billion rupees ($1 billion).

While shaken by what has been dubbed “India’s Enron”, some investors say they will wait for signs of widespread malfeasance among Indian companies before deciding whether to change their investment policy on India.”

  • Satyam is the fourth largest of the Indian IT outsourcing firms
  • Satyam serves more than a third of the Fortune 500 companies
  • Satyam’s clients include multinationals such as Nestlé, General Motors (GM), and General Electric (GE)
  • Satyam’s auditor is PricewaterhouseCoopers, who endorsed the company’s accounts

Update: Ramalingam Raju, the chairman of troubled Indian IT outsourcing company Satyam Computer Services, resigned on Jan. 7, 2009, admitting the firm had falsified accounts and assets and inflated its profits over several years.

January 6, 2009

Union tries to organize IBM workers

According to Yahoo Tech: “One message states that IBM will announce 16,000 layoffs on Jan. 23, affecting workers worldwide. Similar predictions are made in other recent posts on the site, which is run by the Alliance@IBM/Communications Workers of America Local 1701, a union that is trying to organize IBM workers.”

“The union, while still in an organizing phase and not yet recognized by IBM, has about 6,000 members, including IBM employees and retirees, according to national coordinator Lee Conrad. But because the union has not reached an employment contract with IBM, there is “not an awful lot” it can do except raise awareness of the issue”.

LayoffBlog.com: Stay tuned for more info.

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