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layoff posts

i-mate CEO says company isn't dead yet, just dealing with 'major fraud'

by Donald Melanson posted Sep 24th 2009 at 10:54AM

Well, it looks like the reports of i-mate's demise may have been slightly exaggerated. Of course, most of its employees are still laid off, its offices are still closed, and no one's answering the phones, but i-mate CEO Jim Morrison assures us that "everything about i-mate will continue." It turns out the company is just dealing with some "major fraud" that was discovered at the end of August as it was beginning to introduce a new line of devices, which led to some problems with little things like "paying employees." Those employees are also now said to be considering taking things up with the local authorities in Dubai, which Morrison admits would make things "difficult," although he insists that the company still has those new products ready to go, that it's "looking for more funding," and that "there is a lot of good stuff happening."

[Thanks, Brendan]

Recession roundup: Monday morning edition

by Tim Stevens posted Jan 26th 2009 at 9:57AM

It wasn't that long ago that Monday mornings in the office were a depressing time -- another cheerful weekend gone; another long week of work ahead. But, these days, being in the office on a Monday is a good thing, because if your login still works you've survived another scary layoff Friday. Spare a thought, then, for those whose system access has been cut off, including 1,300 from Sun (the first wave of a total of 6,000 planned job cuts), 8,000 workers at Sprint who are due to receive pink slips, 6,000 from Philips, and an unannounced number of IBM workers (rumored to be 16,000) who have also found themselves to be on the wrong side of the cost-cutting ax. In one final bit of cheery news, AMD has reported a $1.4 billion loss in the fourth quarter of 2008 and, after shedding its handheld graphics unit, is now selling its manufacturing operations to Advanced Technology Investment. Oh, sorry, you were hoping for some genuinely good news? How about this: that loss is smaller than AMD's $1.8 billion loss from the same time last year. Now have a great day!

Read - Sun confirms 1,300 layoffs
Read - Sprint Nextel Plans to Cut 8,000 Jobs in Quarter
Read - Philips to Release 6000 Employees into Wild
Read - Several IBM employees report being laid off on Alliance@IBM
Read - IBM Confirms Layoffs
Read - AMD Reports $1.4 Billion Loss

Sony to shutter Japanese TV plant as part of restructuring efforts

by Darren Murph posted Jan 21st 2009 at 10:44PM

Hey Sony -- we know that experiencing your first annual operating loss in 14 years calls for drastic measures, but this is bordering on downright rash. Barely a month after announcing that 16,000 employees would be axed, Sony has now revealed plans to close one of its two television plants in Japan and rid itself of 2,000 domestic full-time jobs as it attempts to "revive its electronics business." Of note, it's stated that those 2,000 -- which seem to be a part of the previously mentioned 16,000 figure -- will be shed via "early retirement and other programs." Just think what a 40-inch XEL-1 would do for business. No, seriously Sony, just think.

[Image courtesy of DigitalWorldTokyo]

Job loss roundup: like other roundups, only less fun

by Laura June posted Jan 21st 2009 at 11:45AM

Remember yesterday... when everything was awesome and hopeful? Well, with this morning's coffee came the cold hard truth once more: the economy is seriously stinking up the joint, and it only seems to be getting worse. Logitech's announced their third-quarter earnings (down 70 percent) and simultaneously said it's going to shrug off 600 of its employees, while the folks over at Intel have said they're shutting down a manufacturing facility in the Philippines which houses 1,800 employees. Sony's vaguely announced a "restructuring" which is bound to result in misery and job loss, while Sega confirmed that "about 30" people have been vaporized from the pay sheet. So... everything's cool with this blogging job, right guys? Guys!?

Read - Confirmed: Sega cuts staff
Read - Sony announces restructuring plan
Read - Intel announces RP operation shutdown
Read - Logitech third quarter profits fell 70 percent

AMD hacks another 1100 employees, cuts executive salaries by 20%

by Darren Murph posted Jan 16th 2009 at 1:08PM

Barely two months ago we found that another round of layoffs would land 500 employees at AMD without a job. Now, we're hearing that the chip maker is looking to scale down its workforce by another nine percent, which means that around 1,100 positions will be vacated in Q1 2009. Also of note, the arguably overpaid Executive Chairman Hector Ruiz and his buddy Chief Executive Dirk Meyer will each see "temporary" (what, like a day?) 20 percent cuts in base salary. Oh, and in case you needed a little more doom and gloom with your wine and cheese, the outfit is also suspending its 401(k) company match. Awesome.

[Image courtesy of DavidWSmith, thanks Spencer]

Motorola to lay off 4,000 starting immediately

by Chris Ziegler posted Jan 14th 2009 at 5:32PM

It's official: Moto's pulling out the axe. The beleaguered manufacturer is no stranger to financial struggles at this point -- nor layoffs, for that matter -- but the latest round cuts some 6 percent of employees from Moto's global operations, and 3,000 of the 4,000 will come directly from the handset division. The news comes along with a preliminary fourth quarter earnings estimate of a 7 to 8 cent per share loss (which isn't really "earnings" when you think about it), so yeah, it's business as usual out in Schaumburg: get lean and start making awesome products. Soon, Moto. Please.

[Via Boy Genius Report]

Lenovo, Dell and TDK layoff thousands, bum out thousands more

by Joseph L. Flatley posted Jan 9th 2009 at 8:45AM

No longer content to sit on the sideline while companies like Logitech and Creative get all the press, Lenovo, Dell and TDK are all "restructuring." And you know what that means. Lenovo: cutting 11 percent of its work force. Dell: cutting 1,900 jobs, closing its plant in Limerick. TDK: cutting 8,000 jobs and closing four plants. This might be a tad depressing, but don't lose heart, people! As Sony's Gary Shapiro pointed out at the company's keynote this morning, tech companies "don't seek bailout money, we seek opportunity." After all, the company knows a thing or two about "opportunity."

Read: Lenovo Expects Quarterly Loss, Plans Job Cuts
Read: Dell to axe 1,900 jobs
Read: Japan's TDK to cut 8,000 jobs, close four plants
Read: Layoff Blog

Update: Shapiro is the President and CEO of the Consumer Electronics Association. Our bad.

Logitech axes 15% of salaried workforce as it restructures

by Darren Murph posted Jan 6th 2009 at 9:35AM

Logitech may be bringing the heat at CES, but that doesn't mean it's not feeling the pinch. Alongside a few new pieces of kit, the outfit has also announced that it will be undergoing a serious restructuring as it moves forward. According to president and chief executive officer Gerald P. Quindlen: "During the December quarter, the retail environment deteriorated significantly, and moreover, we expect the economic environment to worsen in the coming months and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn." Sadly, those "actions" involve sending home some 15% of its salaried workforce worldwide, and it's expecting the savings from all of this to show in Q1 of fiscal year 2010. Ouch.

Rumors of drastic cost cutting at Sony abound, Sony says not so fast

by Donald Melanson posted Jan 5th 2009 at 5:37PM

Sony already announced some pretty significant layoffs and other cost-cutting measures last month, but it looks like the company could be set to take things even further, with the Times of London now reporting that some major factory and division closings could also be in the offing as early as next month. Any details beyond that are a bit light, it seems, but Sony is denying that any such plan exists, with a spokesperson saying simply that the company does "not plan to announce additional restructuring measures at this time." Not exactly a flat out denial, to be sure, and it certainly wouldn't be the first time that a company revised their layoff estimates this season.

Creative axes 2,700 jobs, simultaneously lowers expectations for Zii

by Darren Murph posted Jan 4th 2009 at 3:35AM

While the hype is bubbling over surrounding Creative's Zii "stemcell computing," the outfit obviously doesn't think whatever it is will turn things around. Instead, it has chosen to cut some 2,700 jobs -- nearly half of its workforce -- as "demand for its music players tumbled." According to a report filed to Singapore's stock exchange on December 31, 2008, the company had 3,100 full time employees at the end of June 2008, which is around 47% lower than what was posted a year prior. 'Course, we suppose the cuts aren't all that surprising after posting a net loss of $19.7 million on the lowest revenues in five years, but it still makes us wonder just how confident the company is about this whole Zii dealio.

[Thanks, Grayson]

Microsoft preparing for new layoffs?

by Ross Miller posted Dec 31st 2008 at 9:03PM

A new report from Fudzilla claims that Microsoft is getting ready to lay off 15,000 employees, or about 17% of its worldwide staff. The axe will apparently fall on January 15th, exactly one week before its second quarter earnings report, and they expect MSN division to be hit hardest, while the successful Xbox crew will probably make it out relatively unscathed. Meanwhile, an anonymous blogger who goes by the name Mini-Microsoft and claims to be an employee well-versed in the goings-on inside the company has been fielding questions from other purported Microsoft workers on recent cutback concerns. This past Monday he posted a handful of anonymous comments saying that the rumored layoffs aren't happening -- at least not in January -- although a re-organization might be in the cards. Both reports should be taken with a grain of salt, but one thing's for certain -- Windows 7 is gonna rule.

[Via Joystiq]

Read - Fudzilla report
Read - Mini-Microsoft

Sony to shed 16,000 jobs, increase prices in bid to bolster profitability (Updated)

by Thomas Ricker posted Dec 9th 2008 at 2:04AM

The bad news from the Japanese consumer electronics industry continues. Sony just announced plans to cut about 8,000 global jobs from its beleaguered electronics business while making unspecified reductions to its seasonal and temporary workforce. The move, as Sony explains it, comes "in response to the sudden and rapid changes in the global economic environment." Ominously, it looks like Sony will also be raising prices (blame Jay) in the countries where "Sony makes significant sales" (read: US and Europe) if we're reading this statement correctly:

"Going forward, Sony intends to adjust product pricing to mitigate the impact of the appreciation of the yen."

Sony is also delaying or at least curtailing some of its investments while planning to "downsize or withdraw from unprofitable or non-core businesses." All these moves are meant to cut operational costs by some $1.1 billion in operational efficiencies before the fiscal year closes on 31 March 2010.

Update: Yup, we were right. According to Reuters, Sony will "raise prices on some electronics products in Europe from the beginning of 2009." Also, Bloomberg reports that 8,000 contract workers from the electronics division will also be shed for a total of 16,000 personnel added to the world's unemployment roster.

AT&T cutting 12,000 jobs due to "economic pressures"

by Tim Stevens posted Dec 4th 2008 at 10:06AM

AT&T may have about the best selection of choice handsets (smart or otherwise) available in the States right now, and continued iPhone exclusivity has definitely brought a windfall of new subscribers to its wireless division, but Ma Bell wasn't built on cell towers alone. There's still an extensive landline division to support, and it seems the company is leveraging the current economic doldrums to make it a little less so, joining the layoff crowd for the second time this year by shedding a further 12,000 workers (about 4 percent of its workforce), most said to be coming from passé, non-wireless sectors. So, happy holidays, folks -- hope those severance packages get you through the winter.

[Via CellPhonesMarket.com; thanks, SK]

Tesla Motors burns out another as Darryl Siry signs off

by Darren Murph posted Dec 2nd 2008 at 3:40PM

Apparently the fear of snapping up another job after ditching the green fields of Tesla Motors isn't on Darryl Siry's mind, as the SVP of Marketing and Sales has publicly admitted to leaving the company over "disagreements in strategy." The news comes but 1.5 months after Elon Musk made himself CEO and told a few others to stay happy elsewhere, and while Darryl's replacement wasn't directly named, Siry does outrightly state that he has only remained on this long to recruit "a very strong successor." The best part of his farewell? This gem: "So what now? I have no immediate plans but look forward to exploring various opportunities that I find out there." Translation? I'm so loaded after my stint in this place, it doesn't even matter, holmes.

[Via Autoblog]

Palm axes an undisclosed amount of employees, sort of blames itself

by Darren Murph posted Nov 21st 2008 at 11:03PM

My, my -- how's this for truth in advertising? Palm InfoCenter has confirmed with a Palm spokesperson that the flagging outfit will be laying off an undisclosed amount of employees as the economy worsens and the firm attempts to keep that final nail from being slammed down on its coffin. According to the spokesperson, the company will undergo a certain amount of restructuring (sound familiar?) that will "result in company reductions in the US and internationally." Incredulously, the statement also included this gem: "The global economic downturn continues to dampen demand for consumer goods around the world, and the impact on the economic environment is worsened by our maturing Centro line and the length of time it is taking to ramp our new Windows Mobile products." We won't say for sure that it's actually taking some of the blame here, but it sure sounds like it. Now, if only it would take charge of its future...

[Image courtesy of DayLife]