LayoffBlog.com

December 30, 2008

AMD reports more job cuts, higher restructuring costs

According to BizJournals: “AMD said in a regulatory filing on Monday that it cut about 100 more jobs than it originally targeted, resulting in higher than expected restructuring costs in the fourth quarter.

The Sunnyvale chip maker (NYSE:AMD) said it reduced its work force by 600 and will see $70 million in costs related to that move, instead of the 500-worker cut with $50 million in costs originally announced in November.”

AMD also said it isn’t through, saying in the filing that “further cost reduction actions will result in additional charges in the first half of fiscal 2009, which the company cannot estimate at this time”, according to New Mexico Business Weekly

Update: So the rumor we published earlier regarding possible additional layoffs at AMD is confirmed.

November 24, 2008

Google slows hiring but Schmidt says firm is still doing ‘exciting and crazy things’

According to Bloomberg News: “Google, owner of the most popular Internet search engine, is adding fewer employees and focusing on controlling expenses amid the global economic slump, CEO Eric Schmidt said Monday. “We have slowed our hiring, but we’re still hiring,” he said in an interview. ”We’re still doing the same kinds of exciting and crazy things that Google always does.”Google is grappling with an economic slowdown that is curbing growth in online advertising, while competition intensifies with Yahoo and Microsoft. Schmidt said that while the ad market may be shrinking, Google benefits from its ability to target specific users.

Google, which had more than 20,000 employees at the end of the third quarter, up from almost 11,000 at the end of 2006, added 519 workers in the third quarter, compared with 2,130 in the same period a year earlier.

Google fell $4.99 to $257.44 Monday in Nasdaq Stock Market trading. The shares have lost 63 percent this year.”

Leaks: Google To Slash Thousands of Employees

According to leaks and rumors from several online sources:

F*Startups.com: “Google will slash 1,000+ employees sometime within the next week.”

WebGuild.com: “Google has been quietly laying off staff and up to 10,000 jobs could be on the chopping block according to sources. Since August, hundreds of employees have been laid off and there are reports that about 500 of them were recruiters for Google.”

November 21, 2008

San Jose’s projected deficit zooms past $59 million; layoffs seem certain

According to San Jose Mercury News: “The imploding economy has widened the projected hole in San Jose’s budget next year to more than $59 million, city officials said Thursday, making layoffs virtually certain and burying Mayor Chuck Reed’s hopes for eliminating chronic deficits in his first term.Though city voters this month maintained two existing phone taxes at reduced rates — one of which was set to expire next year — and some employee groups have agreed to take lower raises, City Manager Debra Figone said “everything else has worsened.”

“At this point in time, I can’t see how we can avoid layoffs,” Figone said. City union leaders had no immediate response.”

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