Scotts Valley-based Seagate Technology announced Wednesday that it will lay off approximately 1,100 members of its global workforce as part of a restructuring for the hard-disk manufacturer.
This is the second heavy-duty round of layoffs this year. In January, the company trimmed 2,950 employees including CEO Bill Watkins and announced that more layoffs were likely to [...]
HEWLETT-PACKARD Co’s quarterly profit dropped 17 per cent on lighter sales in two key areas, personal computers and printer ink, in a sign that the woes in consumer technology spending have dragged on beyond the miserable holiday season.
The company also said an additional 6,400 workers, or 2 per cent of HP’s 321,000-employee work force, will [...]
As Finnish cell phone giant Nokia continues to cut costs in an effort to combat declining demand, the company recently told Reuters it would shed an additional 490 jobs in the near future. 170 employees from Nokia’s logistics, production management and production support divisions will be released and the company will extend its Voluntary Resignation [...]
American Express said Monday it will cut 4,000 jobs, or 6% of its global workforce, as part of an $800 million restructuring plan.
Under the plan, the financial services company will also cut investment spending and operating costs.
The 4,000 cuts are on top of the 7,000 positions the company said in October it would eliminate, according [...]
Sony Corp. reported its first annual net loss in 14 years and forecast a bigger loss this year, saying the pressure from sliding sales, competition in gadget prices and a strong yen was expected to continue.
The Japanese electronics and entertainment company said Thursday it lost 165 billion yen ($1.72 billion) in the January-March quarter, compared [...]
General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said.
GM, facing a U.S. government-imposed deadline of June 1 to restructure or file for bankruptcy, is expected to send termination notices to [...]
MySpace has let go of as many as 45 employees in the last week, we’ve confirmed. Sources close to the company say that the exact figure may be smaller, but that MySpace has definitely laid off a significant number of people. MySpace has refused to comment on the matter, so it isn’t clear if this [...]
Wells Fargo & Co on Wednesday said it is freezing its cash-balance pension plan for all employees, and has issued layoff notices to 548 workers in uptown Charlotte, North Carolina, the former home of Wachovia Corp.
The moves will reduce costs, spokeswoman Mary Eshet said. Wells Fargo bought Wachovia for $12.5 billion at the end of [...]
CEO Steve Ballmer’s e-mail to the staff indicated that the company is “mostly” done with its 5,000 job eliminations. Considering that 1,400 people were laid off in January, we can deduce that Microsoft laid off as many as 3,600 people today. (Seattle PI)
