JobLosses
Latest
Nokia might give up on wearables (updated)
Less than two years after spending millions repositioning itself in the consumer health market, Nokia has announced a strategic review of its digital health business which comes after news that the company could shed up to 425 jobs in its home country of Finland. Nokia acquired French fitness tracker manufacturer Withings for $191 million in 2016 as part of its new digital health strategy WellCare, which is not dissimilar to Apple's HealthKit. The deal came amid a spate of acquisitions by Nokia, buoyed by investment from Microsoft following their Windows Phone agreement.
Sharp reportedly laying off 5,000 employees, focusing more on smartphone displays and bigger, better TVs for US market
Sharp finally had something positive to report a couple of months ago when it received a much-need cash injection from Samsung, but today's news isn't so rosy. According to The Asahi Shimbun, Sharp will reveal a three-year management plan next Tuesday that'll see 5,000 workers losing their jobs as part of the company's efforts to claw its way back into the black. Many of those who are expected to be axed are said to be employed outside of Japan, but the number of empty desks at Sharp's head office in Osaka is also set to increase -- half of the workforce there will be sent on their way, including half of the company's directors. Allegedly, Sharp will also begin producing more 4K sets and 70-inch or over HDTVs for the US market, and also shift its broader focus towards making more "small-sized panels for smartphones and other devices." Who exactly are these displays being made for, we wonder?
Sony restructuring in Japan: camera lens plant to close with loss of 2,000 jobs
Kaz Hirai's "One Sony" rescue plan was designed to unite the many disparate arms of the conglomerate, shed 10,000 jobs and make cost savings wherever it could. Facilities in Sweden and the UK have already been closed, so now the company is shifting focus to its operations in Japan. Sony will close its Minokamo site, which currently produces camera lenses for DSLRs and smartphones, with production being moved to factories in Kohida and Kisarazu, 840 staff will lose their jobs. The company is also instituting an early retirement program across its various Japanese businesses in order to push the domestic total to 2,000 -- which it must do before a self-imposed deadline of March 2013.
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.
Sharp reports 2,000 job cuts in Japan, more changes expected
There was little doubt jobs would be on the line after Sharp's significant Q1 losses, but now it's official. Following a board meeting today, the company has joined the likes of RIM, Sony and HP, announcing the "voluntary retirement" of around 2,000 staff in Japan before the year's out. The layoffs are part of a wider, textbook reorganization plan, and are expected to cost a sizeable 27 billion yen (approximately $344 million). Neither figure is set in stone, however, so when everything is finalized we could see more jobs impacted and those costs soar. Whether this puts off potential investment from Hon Hai Precision Industry is unknown, but while Sharp's TVs get ever bigger, its wallet continues to get thinner.
Lexmark announces detailed restructuring plan: 1,700 layoffs, inkjet business to be nixed
It's always a sad day when news come in of hard-working folks losing their cherished jobs -- and, unfortunately, today's one of those dismal days. In a detailed press release, Lexmark's let it be known it'll be be undergoing a company-wide restructure, but with the main focus being the exiting of the outfit's inkjet hardware development and manufacturing -- which, in the end, should save the printer maker about $95 million per year once the plan has taken place. Naturally, this doesn't come without any repercussions, as Lexmark's announced these restructuring actions will see around 1,700 worldwide jobs be lost; 1,100 of which are manufacturing positions, and also include the closing of an inkjet supplies manufacturing plant in the Philippines. Needless to say, we can only hope Lexmark sees better days. For now, however, you can peruse over the company's official word in the presser located right past the break.
Sony Mobile moving HQ to Tokyo, cutting 1,000 jobs in Sweden
Sony's slow and painful transformation continues with a restructuring of its newly-minted mobile division. In October, it's moving its headquarters from Lund, Sweden (presumably a holdover from its Ericsson days) to Tokyo -- for deeper integration -- and repurposing the duties of its facilities in Tokyo, Lund and Beijing. As part of the changes, Sony Mobile will slash 15 percent of its workforce, with 1,000 employees being let go by the end of March 2014, in a trend we've seen across the industry. Most of those affected are in Sweden, with 650 on-site staffers and up to 450 consultants being shown the door.
HTC shuts Seoul office, leaves Korea to the Koreans
Having already pulled out of Brazil and shut down a research building in North Carolina, HTC has now closed its office in the South Korean capital of Seoul. The move is part of the Taiwanese manufacturer's efforts to "streamline operations" and focus on selling One-branded handsets in markets where it stands a better chance of success -- rather like Nokia's geographic retreat following its commitment to Windows Phone, but here on a much smaller scale. It's not yet clear how many jobs will be lost, but HTC says it regrets the "direct impact on people who have contributed to the growth HTC has experienced in the past several years." As it stands, analysts reckon that Korean manufacturers like Samsung, LG and Pantech rule a 90 percent share of their home market, leaving HTC with just one or two points that evidently weren't worth clinging onto.
Olympus scales back, shifts focus to turn around fortunes
Beleaguered camera maker Olympus vows to shed around 2,700 jobs and heavily restructure its business following a major accounting scandal. That works out that around seven percent of its total global workforce will be cut, with Olympus also aiming to sell unused property and close its Philippines plant over the next two years. The Japanese manufacture will also refocus on profitable imaging, medical and life-science departments -- presumably fields that would-be suitor Panasonic's also interested in. Update: Or perhaps not.
NEC will cut 10,000 jobs after forecasting $1.3 billion annual loss, mostly in mobile phone biz
After releasing a revised financial forecast for FY 2011 that predicts an annual $1.3 billion loss, its third in the last four years, NEC announced it will cut around 10,000 jobs. Bloomberg Businessweek reports President Nobuhiro Endo announced the cuts, revealing most of the cuts will come from the company's mobile-phone handset business, with 7,000 of them expected to be in Japan. The company reportedly had 115,840 employees as of March so there should be a few folks left around to keep the lights on and maintain ventures like its new JV with NTT Docomo, Panasonic, Samsung and Fujitsu, the NEC Lenovo PC alliance, and its recently announced work on the Hayabusa 2 asteroid explorer. Still, we'll have to wait and see how the cuts affect upcoming cellphones, like any potential successors to its super-slim MEDIAS N-04C seen above.
Motorola Mobility to drop 800 jobs
Motorola Mobility has issued a regulatory filing outlining the loss of 800 jobs. The cut will cost the handset manufacturer $31 million -- that number includes $27 million in severance and $4 million to close locations. The reason for the cuts? Bloomberg suggests that it's part of an attempt to lower costs, as the company readies itself to join the Google family -- a decision Motorola's board will vote on in the middle of next month. This news follows last week's earnings report, in which the mobile company reported a $32 million net loss -- not the greatest financial report, sure, but a marked improvement over the prior quarter's $56 million loss.
The Nokia contraction continues: 3,500 further job losses and more on the horizon
Nokia always said there'd be "substantial reductions in employment" but it's still brutal to see it happen. The manufacturer just revealed it intends to close its massive manufacturing plant in Cluj, Romania (pictured above) in order to shift high-volume feature phone production to Asian factories. The Cluj plant currently employs 2,200 people. Further "consolidation" of Nokia's Location and Commerce business will result in the closure of sites at Malvern in the US and Bonn in Germany, impacting around 1,300 employees. Finally, the company also says it'll review its production operations at Salo in Finland, Komarom in Hungary and Reynosa in Mexico, but we won't know how many workers this will affect until a further announcement at the beginning of next year. Nokia's press release says these cuts will take place by the end of 2012 and be in addition to the 4,000 job losses announced back in April -- it's copied in full after the break. [Thanks to everyone who sent this in]
Nokia slashes 1,700 jobs due to "pruned" demand
Finland-based Nokia has just announced that they will cut 1,700 jobs in the corporate development and global functions departments. These cuts will equal about 1 percent of Nokia's entire workforce, and are more than double in number than earlier reports suggested. The company says that the cuts are being driven by "pruned" worldwide demand for its products. Shares of its stock fell 2.6 percent in Helsinki trading after the announcement, while our hopes and dreams fell just 1 percent. Onward and upward, dear Nokia!
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
