51932819
submission
Dawn Kawamoto writes:
Within days of closing its deal to acquire LTE-related assets from Renesas Electronics, Broadcom is now taking the hatchet to its own internal LTE and modem design team members by doling out pink slips. Although several hundred Broadcom workers in the U.S. and overseas are getting layoff notices, the figure could go substantially higher because the company expects to cut roughly $45 million in operating expenses relating to the deal between now and the next 12 months. Although the company isn't commenting on the layoffs because they are in a quiet period with the earnings around the corner, it may be worth tuning into their third quarter earnings call on Oct. 22.
51710131
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Dawn Kawamoto writes:
Alcatel-Lucent is planning to cut 10,000 workers by 2015. The telecom equipment maker's newly minted CEO calls this restructuring part of his Shift Plan. The employees who are getting axed, however, may think it's a typo and he should have dropped the "f" from Shift. Under this plan, Alcatel-Lucent wants to save 1 billion Euros in costs and refocus its operations on next-gen IP networking, cloud and ultra-broadband access and away from legacy technologies like its 2G and 3G wireless. In the meantime, Wall Street thinks it may be cleaning itself up for a sale of some of its assets or its operations to Nokia, which will need to bolster its telecom equipment business after selling its smartphone operations to Microsoft. But Nokia-Microsoft deal may be too little, too late.
51576245
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Dawn Kawamoto writes:
Lockheed employees are the latest casualty in the government shutdown, with the defense contractor announcing Friday it plans to furlough 3,000 workers on Monday. But what they didn't mention is they are also laying off workers too, says a Lockheed source on the hush-hush. Lockheed, of course, isn't the only defense contractor taking it on the chin. Other contractors includeUnited Technologies, which has furloughed 2,000, and BAE Systems which cut 1,000. Wonder when layoff city will stop? Ask your Congressional representative.
51298955
submission
Dawn Kawamoto writes:
IBM reached a settlement with the Justice Department over allegations it posted discriminatory online job openings, allegedly stating a preference for H-1B and foreign student visa holders for its software and apps developer positions. The job openings were for IT positions that would eventually require the applicant to relocate overseas. IBM agreed to pay $44,400 in civil penalties to the U.S., as well take certain actions in the way it hires within the U.S. The settlement, announced Friday, comes at a time with tech companies are calling for the U.S. to allow more H-1B workers into the country.
50072555
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Dawn Kawamoto writes:
Sometimes, making more money is not enough. Just ask Salesforce.com. The SaaS company announced it would cut 200 jobs, during its second quarter earnings call. The cuts are coming, despite the company raising its revenue forecast for its fiscal year. Salesforce.com says it's initiating the cuts to reduce overlapping roles and gain synergies, following its effort to meld its cloud marketing platform company ExactTarget with its social media market suite Marketing Cloud. And apparently this isn't the first time Salesforce has tried to squeeze out synergies. It reportedly cut 100 jobs in October, when it merged its social media platform companies Radian6 and Buddy Media. Do you know how to say "synergy"?
49530073
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Dawn Kawamoto writes:
Cisco's CEO John Chambers dealt employees a blow Wednesday, saying the networking giant would cut 4,000 workers from the payroll. Not quite a death blow, but this 5 percent cut could leave some employees gasping. Hopefully, Chambers has learned well from his father, a doctor, in treating the long-term health of the patient, aka Cisco. Chambers took the knife to Cisco last year, cutting 2 percent of its workforce. Apparently, the patient wasn't cured.
49188489
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Dawn Kawamoto writes:
Yeah, I know. You should never do anything just for the money. But, hey, Twitter has 88 engineering jobs up for grabs and the company is apparently slowing signs it may be moving closer to launching an IPO. If you find a Twitter job that works for you, better to get hired now when the cost to exercise your stock options will likely be far less than what you'll pay if hired after the company is public. Also, you need to put in the time post IPO. Typically, employees have to wait six months after an IPO before their lockup expires and they can begin selling their company stock. Ferrari anyone?
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Dawn Kawamoto writes:
Alcatel-Lucent has cut 7,500 jobs since the start of the year — a couple thousand more than what employees of the embattled telecom equipment maker may have been expecting. Last summer, Alcatel-Lucent dropped a bomb on its employees, when it said it expected to cut over 5,000 jobs by the end of 2013. Well, the knife has cut deeper than that and its newly minted CEO Michel Combes told Wall Street during its second quarter earnings call Tuesday to expect additional cuts and the related cost savings in the coming quarters. Ouch!
48975719
submission
Dawn Kawamoto writes:
Want to become more efficient? Try lopping off 250 workers.That's what BlackBerry did this week — saying it was a move to become more efficient and appropriately scale. Huh?!? Layoffs are not synonymous with efficiency and scale usually means to grow — not shrink. Do you think it's a case of corporate speak? Wouldn't it be refreshing to hear a company just say: "Our finances are in the toilet. We need to cut jobs to save money." Sometimes, however, cutting workers ends up costing you more
