General Motors plans to cut around 10,000 jobs at its European division Opel, GM vice president John Smith said on Wednesday after the US auto giant announced that it would retain control of the unit. GM wants to slash costs by 30 percent at Opel, a European unit that employs 55,000 people, Smith told European [...]
Posts Tagged ‘Layoffs’
4 Nov
Microsoft layoffs 5800 employees this year. 800 more job cuts than planned earlier.
Microsoft Corp said on Wednesday it is cutting a further 800 jobs across its operations, on top of 5,000 jobs already eliminated under a plan to reduce costs that was announced in January. A spokesman for the world’s largest software firm said the latest job cuts are spread across the company’s global operations, but about [...]
3 Nov
Mergers in pharmaceutical industry kicks off series of layoffs. Johnson & Johnson, Pfizer, Wyeth, Schering-Plough and Merck & Co announced more job cuts.
Johnson & Johnson said it would eliminate as many as 8,200 jobs, or 7% of its work force, to help the company cope with what it expects will be a slow economic recovery amid damped demand for drugs, medical devices and consumer products. J&J said the planned restructuring will eliminate 7,000 to 8,000 jobs and [...]
3 Nov
RBS plans to cut 3,700 more UK jobs
Royal Bank of Scotland said it would be forced to sell more assets than it had expected and axe 3,700 jobs from its retail business as another radical shake-up loomed for Britain’s banks. European competition authorities are set to force RBS to sell its insurance arm and over 300 branches, and shrink investment banking operations, [...]
3 Nov
HSBC plans to cut 1,700 more UK jobs
Europe’s biggest bank HSBC Holdings is cutting over 1,700 jobs in Britain, adding to thousands of cuts across the industry in the last year as pressure builds to reduce costs. HSBC said 1,726 jobs are being cut, mostly due to a restructuring of branch network management and a consolidation of its collections and cards operations. [...]
23 Oct
Time to work for free in IT companies. No pay for 5000 employees of Mahindra Satyam for 3 months. Take it or leave it.
Mahindra Satyam announced that it will not pay salaries to employees in the virtual pool after December 18. The employees under this virtual pool program (VPP) will, however, have the option to stay on the company’s rolls without pay till March 2010. In a recent email to the associates, the Satyam management stated, “We continue [...]
22 Oct
Mahindra Satyam (formerly Satyam) plans to layoff 5,000 employees on bench.
Post Diwali weekend, many Satyam’s employees on the Virtual Pool Program (VPP) of the company were given a formal notice of two months by e-mail. Virtual Pool Program (VPP) were for people in bench. The mail reads, “In our earlier communication dated June 11, 2009, you were placed on VPP for a period of six [...]
21 Oct
Sun MicroSystems to layoffs 3,000 more jobs this fiscal
Sun Microsystems Inc is planning to cut 3,000 jobs worldwide, or about 10 percent of its staff, blaming delays in its $7 billion sale to Oracle Corp . According to Oracle CEO Larry Ellison, Sun is losing about $100 million a month because of uncertainty about the computer maker’s future as European antitrust regulators pursue [...]
30 Sep
US tech industry lost 115K jobs in H1 and 224K jobs in one full year. Phew.
According to a study by TechAmerica Foundation, US technology industry cut 115,000 jobs in the first half of 2009, compared to the 72,900 tech jobs added in the same period in 2008. However, in the US too, the tech sector seems better than other industry verticals. While between June 2008 to June 2009, tech lost [...]
26 Aug
Fujitsu to cut 1,200 jobs in UK
Japanese IT firm Fujitsu Ltd said on Wednesday it was cutting up to 1,200 jobs in the UK in response to lower-than-anticipated revenues. The company, which employs 12,500 people in the UK, said the action was necessary to remain competitive in the current difficult economic climate. It said had already frozen pay across the company [...]
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