Job security is a tough thing to come by these days at Nokia. As part of yet another major restructuring effort, the world's largest handset maker is handing out pink slips to 3,500 employees and closing one of its shops in Romania. The latest round of job cuts are on top of the 4,000 Nokia announced back in April.
It was only a matter of time before Hewlett Packard slashed staff as a result of dumping its webOS hardware business, and that time is now. Several hundred employees in HP's Palm division are on the chopping block, many of which will be dismissed of their duties starting this week.
Thousands of soon-to-be former Cisco employees will have reason to sing the summertime blues as the networking specialist gets ready to cut 15 percent of its workforce. Along with selling a manufacturing facility, the cost cutting moves are intended to save the company in the neighborhood of $1 billion and turn around its financial future.
Japanese consumer electronics giant Panasonic announced late last week that they are in the middle of a “major restructuring”, which could see cuts to at least five percent of its work force in the coming months. Based on current staffing estimations which peg the company ranks at close to 367,000, this could result in a whopping 17,000 jobs cut, most of which will likely be in Japan. Panasonic officials claim the company will be refocusing its efforts on three key market segments as a result of changing global business environments, down from the five it was pursuing currently. In addition to the refocusing, Panasonic claims at least a small percentage of the cuts will be a result redundancies found following the acquisition of Sanyo and Panasonic Electric Works.
Now's not a particularly good time to be working for Nokia, not unless you can handle the stress of wondering if you'll still have a job once the company eliminates 12 percent of its workers. As part of a new strategy to "align its global workforce and consolidate site operations," Nokia said it plans to hand out about 7,000 pink slips, including laying off 3,000 staff and transferring 3,000 more to Accenture, which will take over Nokia's legacy Symbian software division.
Citing "a person familiar with the matter," The Wall Journal is reporting Microsoft plans to hand out pink slips to some employees, possibly as soon as this week.
It isn't known exactly how many employees are being let go, but according to WSJ's source, it will be much less than the 5,000 or so workers the software juggernaut laid off last year.
No one section will bear the brunt of the cuts, and instead Microsoft is expected to lay off employees from various divisions. The small number of layoffs is also in line with similar reductions in staff Microsoft has done in the past, the un-named source said.
In order to better compete with IBM, Hewlett-Packard (HP) will slash about 9,000 jobs and overhaul its computer-services businesses, Bloomberg reports.
In addition to the job cuts, HP also plans to take a $1 billion charge, both to help pay for severance packages and to bring the company's data centers up to snuff so that HP can provide more automated services.
"These sets of actions will enable HP to grow better than the market," Ann Livermore, executive vice president for enterprise business, said during a conference call. "This is a substantial opportunity for us and something that we think is a good opportunity for our clients as well."
Just last month HP had raised its 2010 forecast, the third time the company has done so since November. Results have consistently beat out analysts' expectations, however job cuts are nothing new for HP. During Chief Executive Officer Mark Hurd's five year reign, HP has handed out some 48,000 pink slips so far.
Boeing last week sent out 60-day layoff notices to 1,000 employees, about 800 of which went to employees of Boeing's engineering, operations, and technology unit. Most of those 800 are in IT, said Tim Healy, a company spokesman.
By the time the 60-day deadline rolls around, there's a chance retirements and other forms of attrition cold scale back some of the job cuts, "although it's impossible to predict how often that could happen or how many employees will leave the company," Healy added.
The most recent layoffs are the latest in Boeing's plan to cut some 10,000 jobs overall. Boeing employees about 158,500 people, including 18,000 in its engineering and technology group. Last month, the company reported record revenue for 2009 at $68.3 billion, up from $60.9 billion in 2008.
Lest anyone thought Microsoft was kidding about slashing its workforce by 5,000 when first announced a year ago, the Redmond outfit has met its goal, and well ahead of its self-imposed June 2010 deadline.
Steve Ballmer's plan for mass layoffs was the first in the company's history, and it has already handed out 5,300 pink slips, or 300 more than originally announced. About 800 positions were eliminated in the company's fiscal second quarter ended December 31, 2009, with Microsoft reporting it had paid $59 million in severance pay related to those layoffs.
When Ballmer first announced the cuts in January, 2009, he said they would continue over the next 18 months and might reach as high as 5,000. With five more months still left to go, Microsoft has overshot its goal by 300. From a bean counting perspective, the layoffs have been a success, helping Microsoft report a record $19 billion revenue in the last quarter.
According to a report in The Wall Street Journal, Dell plans to slash 16 percent of its 4,500 workforce in Malaysia, which breaks down to 700 pink slips by the end of June 2010. About the same time the job cuts were announced, several price mistakes began appearing on Dell's website. Coincidence? Perhaps, but as a modern day Spock would say, that s**t ain't logical (NSFW - language).
The pricing SNAFUs inevitably ended up on deal sites like SlickDeals.net, including a 3.2GHz dual-core Xeon 5060 processor for $10.99, Xeon E3110 for $16.99, Xeon E5450 for $39.99, and a Xeon L5340 for $12.99. We'd go with the Xeon 5060, or maybe one of each at those prices.
Not all of the pricing mistakes worked to the consumers advantage. For example, Dell's website listed a 120GB SATA HDD for a Dell Studio 1735 at $21,000, a laser mouse at $4,000, and an Inspiron AC adapter for $710. Not a big deal if you've ever shopped at an Apple Store.
So what do you think, an honest mistake (several of them), or scorned employees? Hit the jump and sound off!