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AMD could slash up to 30 percent of its workforce according to reports
AllThingsD and CNET are reporting that 30 percent of AMD's workforce could be laid off, though one of several unnamed sources notes the cuts could be as low as 10 percent. If these reports hold true, this would be the second round of layoffs for AMD within a year's time. The reductions will reportedly affect the firm's engineering and sales employees, and may be serious enough to cause a paring back of product lines. The silicon giant could potentially reveal its plans as early as next week, which would coincide with the announcement of its third quarter financial results. With the company expecting a ten percent revenue drop in Q3, it looks like the latest figures will continue the trend of less than ideal results.
T-Mobile CEO Philipp Humm issues memo discussing restructuring plans, more jobs affected (update)
T-Mobile's going through some more growing pains as it continues through the process of restructuring. Less than two months after announcing it would close down seven call centers and cut a total of 3,300 jobs, CEO Philipp Humm has sent out another memo discussing that the company is ready to take the "second essential step" by announcing a new structure -- unfortunately, it means another round of layoffs is coming sometime this week. Humm gives no details on who will be affected, nor does he go into specifics on the new organizational structure that apparently is resulting in the loss of jobs. Head below the break to read the full message from the CEO. Update: Reuters is reporting that 900 T-Mobile employees stand to lose their jobs as a result of the most recent round of layoffs.
Skype happy to offer jobs to any Finns who might be in need
Over 1,000 disgruntled Nokistas walked off the job last week and, while presumably all of them showed up punctually on Monday morning, it remains to be seen how many will get proverbial pink slips as Elop starts making cuts. When that time comes Skype is happy to say that they'd like to hire as many as possible. CEO Tony Bates has no qualms about making the best of this situation, saying the following to Reuters: There is going to be tremendous talent out there... "Our primary engineering focus just so happens to be somewhere between Finland, Estonia and Stockholm, so you can imagine that's a great opportunity and we're hiring. Hear that, shunned Nokia elite? Now turn that frown upside down.
Recession Roundup: volume... oh nevermind
We like to spread good vibes around here, so believe us, we're getting pretty tired of this global economic collapse. However, there's more bad news to dole out. Kodak's reported a 24 percent sales drop and announced it's cutting up to 4,500 workers this year, while Toshiba posted its first loss in seven years, and announced cuts that would bring their expenditures down 80 percent from the current year. Finally, although this was previously predicted, Sony's announced that its profits were down a staggering 95 percent last quarter -- its first-ever third quarter loss posting. The Federation is not going to be pleased.Read - Kodak posts loss, to cut up to 4,500 jobsRead - Toshiba reports Q3 lossRead - Sony's quarterly net profits tumble 95 percent
Recession roundup: Monday morning edition
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 layoffsRead - Sprint Nextel Plans to Cut 8,000 Jobs in QuarterRead - Philips to Release 6000 Employees into WildRead - Several IBM employees report being laid off on Alliance@IBMRead - IBM Confirms LayoffsRead - AMD Reports $1.4 Billion Loss
