The other shoe has dropped at Japanese ATE giant Advantest Corp.
Amid huge losses, Advantest (Tokyo) plans to cut 3,400 jobs, or 26 percent of its headcount, by its fiscal year 2008, which ends March 31. The cuts will include layoffs and a voluntary retirement program. (EE Times)
Technology stalwart Cisco Systems has begun “realigning” its workforce and has confirmed that it has started laying off workers this week.
The Wall Street Journal reported Thursday that Cisco, which sells Internet gear to communications service providers and large companies, has laid off about 250 employees at its headquarters in San Jose, Calif., this week. Other [...]
Nortel Networks Corp. today said it will lay off 3,200 workers in addition to the previously announced 1,800 layoffs as it undergoes a restructuring that is part of its Chapter 11 bankruptcy filing in the U.S. and a similar creditor protection filing in Canada.
The Toronto-based network equipment provider said it could not say [...]
A year ago, it was hardly unthinkable that a math wizard like David X. Li might someday earn a Nobel Prize. After all, financial economists—even Wall Street quants—have received the Nobel in economics before, and Li’s work on measuring risk has had more impact, more quickly, than previous Nobel Prize-winning contributions to the field. [...]
Micron Technology says it will cut about 500 more jobs soon and up to 1,500 additional jobs by the end of August.
The Boise computer-chip maker said Monday that it will phase out its manufacturing of chips on 200 millimeter, or 8-inch, wafers because of deteriorating economic conditions and falling demand for the chips it makes [...]
Boeing has handed out layoff notices to another 1,100 workers, including about 700 in the Puget Sound area.
The Friday notices tell workers layoffs will begin April 24, although some may keep jobs if they tranfer to other positions within the company, or because of normal attrition.
About 750 of the layoff notices went to workers at [...]
The Dow Jones industrial average tumbled to its lowest close in more than six years Thursday as sharp declines in key financial shares led the market lower.
And the number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. (Mercury News)
Embraer will remove an entire layer of if its management structure as part of a plan to lay off 20 percent of its 21,362-strong workforce, the company announced today. In a prepared statement, the company said it would concentrate the cuts in production and administration areas, while it keeps the “significant majority” of the engineering [...]
More trouble at Xe, the newly rebranded incarnation of Blackwater Worldwide: The company has just undergone a round of layoffs as part of a larger reorganization of its business.
In an e-mail to DANGER ROOM, Xe spokeswoman Anne Tyrrell said: “The company’s ongoing reorganization has unfortunately required some staff reductions. These actions, while difficult, are part [...]
BearingPoint Inc. announced today that it has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in U.S. Bankruptcy Court for the Southern District of New York.
In a statement, company officials said the move has allowed them to reach a financial restructuring agreement with senior secured lenders that will significantly [...]
