Items tagged with pink slips
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 require. We are intensifying our efforts on our core businesses and redeploying resources to our...
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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 1,100 and it's now at 1,440 at the time of this writing. In the grand scheme of things, the job cuts...
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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 well," said Paeivyt Tallqvist, a spokeswoman for Nokia. "The final number will only be known after...
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Hewett Packard must have IBM envy. They've purchased Ross Perot's old technology services company, Electronic Data Systems, for $13.2 billion, so they can claim to be the second place provider of such services to businesses and government, behind IBM. As usual, the first rule of Takeover Club is: you're fired. It's a field dominated by IBM, which generated $54 billion in revenue from technology services last year. HP's technology services revenue will more than double to more than $38 billion with the addition of EDS, which had $22 billion in revenue last year.To make sure the EDS takeover pays off, HP indicated it will make significant layoffs as it eliminates overlapping jobs and...
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