According to a Financial Times report, Sony chairman Howard Stringer is having serious difficulties in convincing the executives in the electronic division to accept the restructuring plans.
Sony had already announced back in December that around 10% of its staffers were to be fired and another such round would be hard to accept by the middle management.
Rumor has it that the new plans are especially aimed at Sony's US operations, such as Sony Pictures Entertainment, Sony Online Entertainment, Sony Electronics and Sony Computer Entertainment.
US restructuring plans wouldn't be much of a surprise. Previous reports had it that Sony had been thinking for long about a series “sacred cow-slaying” measures.
Thursday, January 22, 2009
Layoffs in USA
Intel to lay off 5,000, close five plants
Source: SanJose Mercury News
Amid speculation it may be close to reporting its first quarterly loss in 22 years, Santa Clara computer chip maker Intel today said it will lay off at least 5,000 employees worldwide and shut five of its manufacturing operations.
As part of a corporate-wide restructuring, the world biggest chip maker said it will cease plant operations in Santa Clara, Hillsboro, Oregon, Penang, Malaysia and Cavite, Philippines.
The closures "when combined with associated support functions, are expected to affect between 5,000 and 6,000 employees worldwide," the company said in a prepared statement.
Although some of the affected employees may be offered positions at other Intel facilities, company spokesman Chuck Mulloy said at least 5,000 of the workers would lose their jobs.
About 400 Bay Area employees will be affected by the plant shutdowns; Mulloy said it's likely many of them would be laid off. Intel had 84,000 employes at the end of last year.
The last time the company laid off workers was in 2006, when it let go about 10,000 employees as part of a broad corporate restructuring.
Mulloy added that Intel executives have been considering making the changes for some time, but that "this whole thing has been accelerated by the current economic climate."
The company's statement said the changes are expected to take place over the course of the year.
Intel made the announcement after the stock market closed. Its shares rose 40 cents to $13.26 at the close and an additional 14 cents in early after-hours trading.
Amid speculation it may be close to reporting its first quarterly loss in 22 years, Santa Clara computer chip maker Intel today said it will lay off at least 5,000 employees worldwide and shut five of its manufacturing operations.
As part of a corporate-wide restructuring, the world biggest chip maker said it will cease plant operations in Santa Clara, Hillsboro, Oregon, Penang, Malaysia and Cavite, Philippines.
The closures "when combined with associated support functions, are expected to affect between 5,000 and 6,000 employees worldwide," the company said in a prepared statement.
Although some of the affected employees may be offered positions at other Intel facilities, company spokesman Chuck Mulloy said at least 5,000 of the workers would lose their jobs.
About 400 Bay Area employees will be affected by the plant shutdowns; Mulloy said it's likely many of them would be laid off. Intel had 84,000 employes at the end of last year.
The last time the company laid off workers was in 2006, when it let go about 10,000 employees as part of a broad corporate restructuring.
Mulloy added that Intel executives have been considering making the changes for some time, but that "this whole thing has been accelerated by the current economic climate."
The company's statement said the changes are expected to take place over the course of the year.
Intel made the announcement after the stock market closed. Its shares rose 40 cents to $13.26 at the close and an additional 14 cents in early after-hours trading.
IBM
IBM Layoffs Coming this week??
“The Alliance is strongly urging IBM not to go forward with a new round of job cuts and to stop the off-shoring of U.S. workers’ jobs,” said Lee Conrad, national coordinator of Alliance@IBM CWA Local 1701. o
The Alliance suggests that IBM take these steps:
1. IBM must make every effort to save jobs.
2. If cost cutting is needed, IBM should suspend its stock buyback program — the company has spent $26 billion since 2007 — instead of terminating workers.
3. If job cuts occur, IBM must divulge the number of job cuts, where they are taking place and whether any of these affected jobs are being shifted offshore.
4. Executive positions should be eliminated in divisions where job cuts occur.
5. Pay, bonuses and perquisites for executives should be slashed.
6. Work cannot be shifted from IBM workers in the United States to offshore locations.
7. Full disclosure of why individual jobs are being eliminated is essential.
8. Before any new hires are added to the payroll, IBM must recall and rehire employees terminated in past resource actions.
Will it happen?
The Alliance suggests that IBM take these steps:
1. IBM must make every effort to save jobs.
2. If cost cutting is needed, IBM should suspend its stock buyback program — the company has spent $26 billion since 2007 — instead of terminating workers.
3. If job cuts occur, IBM must divulge the number of job cuts, where they are taking place and whether any of these affected jobs are being shifted offshore.
4. Executive positions should be eliminated in divisions where job cuts occur.
5. Pay, bonuses and perquisites for executives should be slashed.
6. Work cannot be shifted from IBM workers in the United States to offshore locations.
7. Full disclosure of why individual jobs are being eliminated is essential.
8. Before any new hires are added to the payroll, IBM must recall and rehire employees terminated in past resource actions.
Will it happen?
Layoffs in USA
Ericsson Plans 5,000 Job Cuts worldwide
Swedish telecoms equipment giant Ericsson AB on Wednesday posted a 31% drop in fourth-quarter profit as restructuring charges and losses at its mobile phone venture took a toll on the bottom line, but its sales rose at a time when many competitors are struggling for survival.
Ericsson (ERICY) also unveiled plans to deepen its restructuring and eliminate about 5,000 additional jobs as it prepares to cope with a sharp fall in demand for telecoms equipment. The measures will cost 6 billion to 7 billion kronor and lead to annual savings of 10 billion kronor by the second half of 2010.
Ericsson (ERICY) also unveiled plans to deepen its restructuring and eliminate about 5,000 additional jobs as it prepares to cope with a sharp fall in demand for telecoms equipment. The measures will cost 6 billion to 7 billion kronor and lead to annual savings of 10 billion kronor by the second half of 2010.
Layoffs in USA
United Airlines to lay off 1,000 more
United Airlines parent UAL Corp. said its quarterly net loss widened to $1.3 billion as the third-largest U.S. carrier paid above-market rates for fuel after incorrectly betting prices would rise. United said it would cut 1,000 additional jobs.
United’s decision to cut additional management and salaried jobs reflects efforts by carriers to control costs and conserve cash as demand declines in the recession. The airline last year said it would eliminate 6,500 unionized positions and 1,500 management and salaried jobs by the end of 2009.
United’s decision to cut additional management and salaried jobs reflects efforts by carriers to control costs and conserve cash as demand declines in the recession. The airline last year said it would eliminate 6,500 unionized positions and 1,500 management and salaried jobs by the end of 2009.
Subscribe to:
Posts (Atom)