Microsoft Corp. admits it screwed up a key part of the plan. First Microsoft realized that an administrative glitch caused it to pay more severance than intended to some laid-off employees. The company's response: It asked the ex-workers for the money back.
But when one of Microsoft's letters seeking repayment surfaced on the Web on Saturday, the situation turned embarrassing. On Monday, the company reversed course and said the laid-off workers could keep the extra payouts.
Lisa Brummel, Microsoft's senior vice president for human resources, said the letters were mailed to 25 of the 1,400 people let go in January. Most of the checks were off by about $4,000 to $5,000, she said.
Brummel said she learned of the letters over the weekend after one appeared on the technology blog TechCrunch. "I decided it didn't quite feel right," she said in an interview. The executive called most of the 25 laid-off employees Monday to personally tell them Microsoft would not seek repayment after all. Redmond, Wash.-based Microsoft also gave about 20 employees too little severance. When the company noticed its mistake, it sent checks and explanations to those people, she said.
Brummel called the glitch a clerical error, and said that at some point in the process of calculating severance packages, communicating with employees and cutting checks, "we had payments misaligned with people's names." (Brummel said she didn't know whether an Excel spreadsheet was at the root of the problem.)
With the recession biting into sales of Microsoft's core Office and Windows software, the company said in January it would let up to 5,000 of its 94,000 employees go, the only mass layoff in its 34-year history. Microsoft remains profitable, however, and has a cash hoard of nearly $21 billion.
Shares of Microsoft sank 79 cents, or 4.4 percent, to close at $17.21.
Wednesday, February 25, 2009
Tuesday, February 24, 2009
HP
HP Posts Declines in All Groups but EDS
Despite declines nearly across the board, Hewlett-Packard just barely managed an increase in revenue for the first quarter of 2009, which ended Jan. 31, the company announced Wednesday. Net revenue for the quarter reached US$28.8 billion, up 1 percent compared to the same period last year. HP Software revenue was down 7 percent to $878 million and HP Financial Services revenue decreased 1 percent to $636 million.
Net income was $1.9 billion, or $0.75 earnings per share, down from $2.1 billion, or $0.80 earnings per share. On a pro forma basis, which excludes certain one-time items, net income came in at $2.3 billion, the same as in the first quarter of 2008, although earnings per share rose to $0.93 from $0.86. Without strong growth in its Services group, HP would have fared much worse. Revenue for that group grew 116 percent to $8.7 billion, primarily due to HP's acquisition of EDS.
Net income was $1.9 billion, or $0.75 earnings per share, down from $2.1 billion, or $0.80 earnings per share. On a pro forma basis, which excludes certain one-time items, net income came in at $2.3 billion, the same as in the first quarter of 2008, although earnings per share rose to $0.93 from $0.86. Without strong growth in its Services group, HP would have fared much worse. Revenue for that group grew 116 percent to $8.7 billion, primarily due to HP's acquisition of EDS.
H1-B, NRIs, Outsourcing
Indian outsourcers, Microsoft top the list of H-1B users in '08
Microsoft Corp. was the top U.S.-based recipient of H-1B visas in 2008, receiving approval for 1,037 visas, slightly more than in 2007. But the largest users of the program remain the major Indian offshore IT services firms -- and their use of H-1Bs appears to be increasing, according to government data.
The importance of the H-1B visa program to India-based outsourcers is clear from the fiscal 2008 approval list compiled by the U.S. Citizenship and Immigration Service (USCIS). That fiscal year ended Sept. 30.
The importance of the H-1B visa program to India-based outsourcers is clear from the fiscal 2008 approval list compiled by the U.S. Citizenship and Immigration Service (USCIS). That fiscal year ended Sept. 30.
Laid off? How to tell the kids
Source: BaltimoreTimes
Sign of the times: A reader asked for help in telling her kids she'd been laid off. I asked Brad Sachs to respond. He's a psychologist in Columbia who's written books on parenting including The Good Enough Child, The Good Enough Teen, and When No One Understands.
He gives us six ways to approach a layoff with your family...
"No family is completely protected from adversity, and it is important to use these challenging times as opportunities to teach children enduring lessons about resilience, hope and belonging. Due to the economic precipice that we all are now living on, one that we will most likely remain on for some time, many contemporary parents will encounter adversity in the form of a lost job and income, which naturally stirs substantial fear, anxiety, uncertainty and concern regarding the future. How you address and discuss this matter with your children will go a long way towards determining how well they (and you) adjust and adapt to this challenge. Here are some things to keep in mind as you do so:
1) It is best to be straightforward with them, and to avoid pulling any punches. Children need to be able to trust their parents, and trust is rooted in knowing that they will be dealt with honestly. Your candor will also build their self-esteem, because they will recognize that you see them as able to handle difficult matters. “I have some not so great news to share with you, but I think you’re old enough that I can be truthful—you’ve probably heard that the economy is pretty bad right now and times have gotten tough. Well, I found out yesterday that I’m being laid off at work, and this means that I’ll need to look for a new job. Until I find one, we’re all going to have to find some ways to pull together and get through this.”
2) It’s important to be hopeful. I generally try to distinguish hope from optimism, in the sense that optimism is the simple belief that things will get better, while hope is the more important belief that there are things that we can do that are likely to make things get better. With this in mind, you might want to suggest, “I’m not happy about this, of course, but I’ve already begun thinking about some ways that we can cut back until I find a new job, and I’ve already begun talking to people and exploring some new possibilities on the job front that might turn out well.”
3) You want to share with your children your previous experiences with similar adversity, and how you were able to endure and become stronger as a result. If you have had experiences (as we all have) when what felt like a loss or disappointment in the short run actually turned out to be a gain or a triumph in the long run, this would be a good time to share such a story or anecdote. “I remember being fired from my first job and thinking it was the end of the world, but as it turns out, that forced me to get some additional training in my field, which led me to get a much better job down the road. I’m not sure I ever would have gone to the trouble of getting that extra training if I hadn’t gotten the axe in the first place.”
4) Because children often feel futile and helpless in the face of forces that they have no control over, such as the loss of their parent’s job, it is important to give them a sense of what they might do to contribute to the family’s survival. Helping them to feel needed during a difficult time will mobilize them to rise to the occasion and, ultimately, build their sense of self-respect. “Tonight at dinner we’re going to spend some time talking as a family about ways that we can cut back on our spending and save money until I’m back at work. I want you to think about some things, even small things, that you might do differently in the coming weeks that will make a difference and help us to get by."
5) During family crises, children need to be able to rely on their friends for support. While you may not be enthusiastic about having your unemployment broadcast among your son or daughter’s peer group, it is important, nonetheless, to let them know that they’re free to discuss this with their closest friends if they’d like to, and that they’re not to feel embarrassed or ashamed. You can remind them that most likely some of their friends’ families are currently, or are going to be, in the midst of a similar ordeal. On the other hand, if they’d prefer to keep it private, you can let them know that that’s perfectly okay, too, and it’ll just be kept within the family.
6) Finally, you want to use this crisis as an opportunity to emphasize what you believe are the most meaningful and profound aspects of being a family, which have less to do with achievement, accomplishment and acquisition, and more to do with compassion, kindness and collaboration. Children need to be reminded that hard times can actually be good times, because we tend to come together and appreciate each other more when we yoke together in the face of misfortune. There’s a difference between having goods and being good—when we educate our children in the vulnerability that we all share as human beings it ultimately provides them with a deep sense of security and connectedness that transcends financial security and enables them to better cope with and grow from the subsequent challenges that will come their way."
Sign of the times: A reader asked for help in telling her kids she'd been laid off. I asked Brad Sachs to respond. He's a psychologist in Columbia who's written books on parenting including The Good Enough Child, The Good Enough Teen, and When No One Understands.
He gives us six ways to approach a layoff with your family...
"No family is completely protected from adversity, and it is important to use these challenging times as opportunities to teach children enduring lessons about resilience, hope and belonging. Due to the economic precipice that we all are now living on, one that we will most likely remain on for some time, many contemporary parents will encounter adversity in the form of a lost job and income, which naturally stirs substantial fear, anxiety, uncertainty and concern regarding the future. How you address and discuss this matter with your children will go a long way towards determining how well they (and you) adjust and adapt to this challenge. Here are some things to keep in mind as you do so:
1) It is best to be straightforward with them, and to avoid pulling any punches. Children need to be able to trust their parents, and trust is rooted in knowing that they will be dealt with honestly. Your candor will also build their self-esteem, because they will recognize that you see them as able to handle difficult matters. “I have some not so great news to share with you, but I think you’re old enough that I can be truthful—you’ve probably heard that the economy is pretty bad right now and times have gotten tough. Well, I found out yesterday that I’m being laid off at work, and this means that I’ll need to look for a new job. Until I find one, we’re all going to have to find some ways to pull together and get through this.”
2) It’s important to be hopeful. I generally try to distinguish hope from optimism, in the sense that optimism is the simple belief that things will get better, while hope is the more important belief that there are things that we can do that are likely to make things get better. With this in mind, you might want to suggest, “I’m not happy about this, of course, but I’ve already begun thinking about some ways that we can cut back until I find a new job, and I’ve already begun talking to people and exploring some new possibilities on the job front that might turn out well.”
3) You want to share with your children your previous experiences with similar adversity, and how you were able to endure and become stronger as a result. If you have had experiences (as we all have) when what felt like a loss or disappointment in the short run actually turned out to be a gain or a triumph in the long run, this would be a good time to share such a story or anecdote. “I remember being fired from my first job and thinking it was the end of the world, but as it turns out, that forced me to get some additional training in my field, which led me to get a much better job down the road. I’m not sure I ever would have gone to the trouble of getting that extra training if I hadn’t gotten the axe in the first place.”
4) Because children often feel futile and helpless in the face of forces that they have no control over, such as the loss of their parent’s job, it is important to give them a sense of what they might do to contribute to the family’s survival. Helping them to feel needed during a difficult time will mobilize them to rise to the occasion and, ultimately, build their sense of self-respect. “Tonight at dinner we’re going to spend some time talking as a family about ways that we can cut back on our spending and save money until I’m back at work. I want you to think about some things, even small things, that you might do differently in the coming weeks that will make a difference and help us to get by."
5) During family crises, children need to be able to rely on their friends for support. While you may not be enthusiastic about having your unemployment broadcast among your son or daughter’s peer group, it is important, nonetheless, to let them know that they’re free to discuss this with their closest friends if they’d like to, and that they’re not to feel embarrassed or ashamed. You can remind them that most likely some of their friends’ families are currently, or are going to be, in the midst of a similar ordeal. On the other hand, if they’d prefer to keep it private, you can let them know that that’s perfectly okay, too, and it’ll just be kept within the family.
6) Finally, you want to use this crisis as an opportunity to emphasize what you believe are the most meaningful and profound aspects of being a family, which have less to do with achievement, accomplishment and acquisition, and more to do with compassion, kindness and collaboration. Children need to be reminded that hard times can actually be good times, because we tend to come together and appreciate each other more when we yoke together in the face of misfortune. There’s a difference between having goods and being good—when we educate our children in the vulnerability that we all share as human beings it ultimately provides them with a deep sense of security and connectedness that transcends financial security and enables them to better cope with and grow from the subsequent challenges that will come their way."
HP
HP imposes staff wage cuts
Source: The Register
Hewlett-Packard workers fired up their PCs Friday morning to find a long memo from Mark Hurd explaining why he was imposing wide-ranging pay cuts in an effort to prevent further job losses at the computer vendor.
HP CEO Hurd told employees yesterday that no more jobs would be axed for the foreseeable future. Instead he applied salary reductions across the board.
Executive council members will have base pay trimmed by 15 per cent; other execs will see base pay reduced by 10 per cent; “exempt employees” base salary takes a five per cent hit; and “non-exempt employees” base pay drops 2.5 per cent.
Hewlett-Packard workers fired up their PCs Friday morning to find a long memo from Mark Hurd explaining why he was imposing wide-ranging pay cuts in an effort to prevent further job losses at the computer vendor.
HP CEO Hurd told employees yesterday that no more jobs would be axed for the foreseeable future. Instead he applied salary reductions across the board.
Executive council members will have base pay trimmed by 15 per cent; other execs will see base pay reduced by 10 per cent; “exempt employees” base salary takes a five per cent hit; and “non-exempt employees” base pay drops 2.5 per cent.
H1-B, NRIs
Stimulus package sets H-1B limits, leaves out E-Verify mandate
Source: ComputerWorld
A provision requiring banks receiving federal bailout funds to give hiring priority to U.S. workers over foreigners with H-1B visas made it into the final version of the economic stimulus bill that President Barack Obama signed last week.
But House and Senate negotiators dropped a separate proposal that would have forced all employers benefiting from stimulus money to use the government’s Web-based E-Verify system to vet the employment status of their workers.
A provision requiring banks receiving federal bailout funds to give hiring priority to U.S. workers over foreigners with H-1B visas made it into the final version of the economic stimulus bill that President Barack Obama signed last week.
But House and Senate negotiators dropped a separate proposal that would have forced all employers benefiting from stimulus money to use the government’s Web-based E-Verify system to vet the employment status of their workers.
Subscribe to:
Posts (Atom)