Just because things are expected, doesn’t mean they don’t hurt. This is the case for Research In Motion (RIM), which has been steadily slashing expectations over sales and earnings for the first quarter, released its report today. And it doesn’t look good. Net income for the first quarter was a low $695 million, or $1.33 per diluted share, compared with net income of $934 million, $1.78 per… → Read More
Whenever a company lays off 500 people, as MySpace did earlier this week when it gave half its employees walking papers, it generates quite a bit of anger and bitterness. The latest tip in our inbox from a dispirited former employee goes into a details about do-nothing managers who still have their jobs while all their underlings are now unemployed.
I won’t repeat the character assassinations… → Read More
After we reported on rumors that Yahoo plans to cut as much as 20 percent of its workforce a few weeks ago, Yahoo called that number “misleading.” But layoffs do seem to be brewing, judging by the increasing number of tips we’ve been getting.
On November 23, one tipster wrote that layoffs would be “officially happening after Thanksgiving but before Xmas 2010.” Then yesterday, we started getting… → Read More
When it comes to layoffs, the light always seems darker over your co-worker’s cubicle. A new employee confidence survey conducted by Harris Interactive on behalf of company/job review site Glassdoor.com shows that 26 percent of respondents are concerned about being out of work in the next six months. That is up from 21 percent in the last quarter. But when asked about their colleagues, a full… → Read More
In the world of Web video, either you are YouTube or you are in trouble. Today, well-funded video site Veoh laid off 25 people, the company confirmed today. The layoffs were brought on by a restructuring, as the company shifts focus away from its standalone site, says founder and now-reinstated CEO Dmitry Shapiro. Shapiro replaces former CEO Steve Mitgang. With both today’s layoffs and cutbacks… → Read More
Layoffs in the tech sector are accelerating. It took exactly three weeks for tech layoffs to surge to 300,000, according to our Layoff Tracker. Since late January, when the tracker hit 200,000 layoffs, another 100,000 job eliminations have been announced or completed. In contrast, it took five weeks for layoffs in the tech industry to hit the 200,000 mark, and four months for layoffs to hit… → Read More
Yup, no one can escape the big, bad worldwide recession monster. Panasonic is the latest to join the gloomy ranks of Sony, IBM, and Microsoft with 15,000 layoffs expected. It has something to do with the net loss of $4.3 billion forecasted. Kind of hard to pay folks when there isn’t cash coming in, eh? → Read More
AOL will cut its work force by 10 percent today, laying off approximately 700 employees, as a result of the struggling economy and a decrease in advertising revenue, we’ve confirmed with the company.
AOL has 7,000 employees worldwide. The cuts have been added to our Layoff Tracker. In a company wide memo (reproduced below), AOL CEO Randy Falco said the layoffs will be rolled out over the next… → Read More
Fox Interactive Media is eliminating more than just free lunches. News Corp’s digital arm is trimming nearly 100 jobs across several business units, including Photobucket, MySpace, Scout Media, Rotten Tomatoes, and corporate. The total comes to a little under 5 percent of FIM’s domestic U.S. workforce, and about 3 percent of its global workforce of 2,900. We have added the amount to our Layoff… → Read More
Talk about a case of the Mondays. Sprint and Philips are the latest to announce layoffs with Sprint cutting 8,000 and Philips 6,000 employees. You know the drone. It’s cause we can’t borrow against our overinflated home’s equity to buy these companies latest crap anymore. We’re too busy dumping all of our cash into organic foodstuff now. The Sprint layoffs are expected to be completed by March… → Read More
After layoff activity in the tech industry quieted down around the holidays, it’s come back with a vengeance in January. According to our Layoff Tracker, 80,076 job eliminations have been announced or completed since the beginning of the year. The total number of tech layoffs since we began tracking in late August is now 195,856.
This past week alone, substantial layoffs were announced by… → Read More
On a day when Microsoft announced 5,000 layoffs, the 7 or so people losing their jobs at Digg may seem like a drop in the bucket. But that represents about about 10 percent of Digg’s 75-person workforce, whereas the 5,000 at Microsoft represents 5 percent. We have added Digg to our Layoff Tracker.
In the midst of declining earnings, Microsoft announced today that it will be laying off up to 5,000 people over the next 18 months, or about five percent of its total workforce. Of that amount, 1,400 are losing their jobs today. Microsoft also says that it will continue to hire and that the net headcount reduction over the next 18 months should amount to between 2,000 and 3,000. The layoffs… → Read More
Edge is reporting that SEGA has confirmed laying off 30 staff members due to “economic recession, harsh retail landscape, and the reality of business challenges to profitability,” according to a company spokesperson. → Read More
Effective immediately, 900 jobs have been cut at Plantronics. That means 19% of employees don’t have to go home but they can’t stay at their cubes. Bluetooth headsets are to blame. It seems that the company fell way short of sales expectations in that category and then there is the whole worldwide money slump we seem to be in. Plus, the Plantronics’ bloggers lounge CES ’09 must have cost ‘em a… → Read More
After a lull around Thanksgiving, December has seen some of the biggest layoffs in the tech industry yet since the economy entered its tailspin in the fall. Our Layoff Tracker is now past 100,000 lost jobs (109,629, as of this writing) across nearly 300 different technology and media companies both large and small. To put this in perspective, Citigroup alone announced 52,000 layoffs in… → Read More
The idea behind Leverage was simple and had some potential: it offered an advanced management system for gift cards, hugely popular worldwide especially this time of year, so you could register all of them and keep track of how much you have left or stored on each one. You were also able to buy gift cards, or swap them with others. The service also let you manage all of your loyalty reward… → Read More
The pink slips were passed out on Thursday throughout the various business duchies that make up CBS Interactive—CNET, CBS.com, CBSNews,com, CBSSports.com, BNET, GameSpot, TV.com, last.fm, and CHOW. While CBS confirmed to me and other reporters that layoffs did happen across the board, it refused to talk about how many total people are losing their jobs. That left us scrambling about gathering… → Read More
Since the last time we gave an update at the beginning of the month there have been 20,171 layoffs at tech and media companies added to our Layoff Tracker. That brings the total to 58,709 tech layoffs over the past two and a half months.
One previously unreported layoff we have been able to confirm is 10 people at classifieds search engine Oodle, which occurred last week and represents a 20%… → Read More
With just about everyone pulling at their collars over the economy right now, more and more people are winding up on the chopping block. Amongst the many companies on layoff watch at the moment is Sprint; after bleeding out over 1.3 million customers over the last quarter, it’s pretty clear that Sprint was going to have to cut back their employee headcount. Forced layoffs are no fun for… → Read More