Items tagged with job cuts

It's hard to believe that Samsung's future is in question after all the success the South Korean electronics giant has enjoyed the past few years. Yet that's the situation facing Samsung -- following a disappointing quarter in which the company's flagship Galaxy S5 didn't sell as well as anticipated, there's now talk of a major shakeup among management where even co-CEO and mobile boss J.K. Shin could see a demotion. Samsung employees are privy to the situation and are understandably nervous about their own job security, or lack thereof.According to Reuters, Samsung is expected to announce its... Read more...
Sprint is planning to reduce its workforce by approximately 2,000 employees, or 6.5 percent, a move the company says will save $400 million annually on labor costs. Unfortunately that is what is has come to for Sprint -- looking for ways to cut costs following a dismal quarter underscored by an operating loss of $192 million. Going forward, Sprint's goal is to reduce expenses by $1.5 billion annually. "We have started a transformational journey," said Marcelo Claure, who was appointed CEO of Sprint in mid-August. "While the company continues to face headwinds, we have begun the first phase of our... Read more...
Hewlett-Packard, the second largest supplier of PCs in the world, announced financial results for its fiscal 2014 second quarter ended April 30, 2014. The company grew its profits year-over-year by 18 percent to $1.3 billion on $27.3 billion in total revenues, though despite the profit growth, HP said it plans to cut up to an additional 16,000 jobs over those that are already planned. In May 2012, HP outlined a mulit-year restructuring plan to simplify its business model, accelerate innovation, lower costs, and boosts profits. As part of that plan, HP said it would eliminate 34,000 jobs. Having... Read more...
In a desperate bid to save a sinking ship, Alcatel-Lucent, a global mobile phone manufacturer and telecommunications equipment company, is planning to reduce its workforce by around 10,000 employees by the end of 2015, the firm announced today. The job cuts are part of what Alcatel-Lucent is calling "The Shift Plan," which is an attempt to transform the company by repositioning it as a specialist in the next-generation technologies of IP networking, cloud, and ultra-broadband access. "Everyone knows this plan is the last chance. The company is in a very serious situation," Michael Combes, Chief... Read more...
At a time when consumers are trending towards mobile products like smartphones and tablets, Texas Instruments has decided it can flip a bigger profit by focusing its energies elsewhere. As such. TI is planning to slash 1,700 jobs as it scales back its mobile processor business and transitions to other areas, like cars and smartphones. The planned layoffs add up to almost 5 percent of TI's global workforce and are part of a broader cost-reduction effort. "We have a great opportunity to reshape our OMAP processor and wireless connectivity product lines to concentrate on embedded markets. Momentum... Read more...
HP announced more bad news for employees who are already facing massive job cuts: it plans to slash even more positions than expected. That number was a projected 27,000 lost jobs by 2014. Now, reports suggest that the company is eyeballing an additional 2,000 cuts, or 29,000 total slashed jobs by the end of that same forecast period. Amid the restructuring, HP is preparing for Windows 8 and has already announced some interesting new systems with multi-touch screens to take advantage of Windows 8's touch capabilities. This is the upcoming HP ENVY TouchSmart Ultrabook 4. Although HP isn’t... Read more...
Sony Mobile is letting go of 1,000 employees, or 15 percent of its overall workforce, as the company prepares to relocate its corporate headquarters and certain other functions from Lund, Sweden, to Tokyo, Japan, the company announced today. The goal with all of this is to put Sony Mobile in a better position to bring products to market in a timely manner. "Sony has identified the mobile business as one of its core businesses and the Xperia smartphone portfolio continues to gain momentum with customers and consumers worldwide," said Kunimasa Suzuki, President and CEO of Sony Mobile. "We are accelerating... Read more...
Google might be one of the greatest companies to work for on the planet (if you die while working at Google, your spouse or significant other will receive 50 percent of your income for 10 years, which is just one of many awesome perks at Google), but it's not immune to job cuts. In fact, the Mountain View company announced plans to eliminate 4,000 jobs at its Motorola Mobility division, effectively slashing the venture's workforce by 20 percent. In a regulatory filing today, Google explained the job cuts as necessary to "return Motorola's mobile devices unit to profitability." Google also warned... Read more...
Job cuts in the tech industry has become an all too common theme in the past couple of years, and the latest round of redundancy reductions is set to take place at Logitech. The peripheral maker announced plans to restructure its operations and simplify its organization to "better align costs with its current business to and free up resources to pursue its growth opportunities," and part of the process will entail handing out 450 pink slips. "As we announced in April, this organizational streamlining, along with our strategy to deliver fewer but more compelling products, should position Logitech... Read more...
Job cuts are an unfortunate part of doing business, especially when times get lean and investors grow antsy with dwindling profits (or increasing losses). When they do happen, you just hope too many people aren't affected. No such luck for Sony workers. The electronics juggernaut is reportedly getting ready to axe 10,000 workers, which represents 6 percent of its total global workforce. According to Reuters, Sony's layoffs are the latest blow to Japan, which has seen a number of technology companies, including NEC and Panasonic, look at ways to cut costs. Everyone is trying to cope with a strong... Read more...
Yahoo today confirmed plans to hand out around 2,000 pink slips to its employees, which is roughly equivalent to 14 percent of its workforce. The planned layoffs are an attempt to turn things around at Yahoo in a massive reorganization effort led by the company's new CEO, Scott Thompson, the former PayPal president who joined Yahoo in January of this year, four months after Carol Bartz was ousted from the position. "Today's actions are an important next step toward a bold, new Yahoo — smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry... Read more...
Job security is tough thing to come by these days, a fact that resonating in various departments at International Business Machines (IBM), the third-largest publicly traded technology company in the world and the largest computer services supplier on the planet. Despite its credentials and standing in the global community, IBM has let go of over 1,400 employees in the U.S. and Canada this past week, according to Alliance@IBM, an organization that's trying to form a union of IBM workers recognized by the company. As of Tuesday, the number of pink slips handed out in the U.S. and Canada stood at... Read more...
Now's not a fun time to be working at Panasonic, not when you're constantly looking over your shoulder wondering if the corporate axe will come crashing down. Over the next two years, Panasonic said it plans to hand out another 17,000 pink slips and turn out the lights at up to 70 factories in order to trim costs and remain competitive. This comes after Panasonic already slashed 18,000 jobs in the past year, which will bring the overall tally to 35,000 when the higher ups are finished showing workers the exit door, presumably (and hopefully) with severance pay in hand. "The figure is huge, but... Read more...
Yahoo isn't the only one handing out pink slips in place of holiday bonus checks. According to a Bloomberg report, Nokia plans to cut as many as 800 jobs in Finland after completing talks with unions. Those getting axed will have the option of voluntarily resigning in exchange for a severance package equivalent to 5 to 15 months worth of salary, depending on long they've been with the company. They'll also be allowed to apply for other positions in the company. "In past years we've been successful in redeploying people so we believe the actual number will be considerably smaller in this case as... Read more...
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