Medtronic Inc. (MDT) will eliminate about 1,500 to 1,800 jobs from its global workforce by the end of June amid efforts to control costs and manage economic pressures.
The medical-devices giant, which has about 39,000 workers around the world, recorded a $27 million restructuring charge related to job cuts and " realignment" in its recent fiscal fourth quarter and will record an unspecified restructuring charge in the current quarter.
Thursday, May 21, 2009
HP, Layoffs in India, Layoffs in USA
HP profits down, to cut another 6,400 jobs
Hewlett-Packard Co. said Tuesday it plans to cut 6,400 more workers — or 2 percent of the company's total work force. The cuts are on top of the 24,600 layoffs HP is doing as part of its huge acquisition of technology services provider Electronic Data Systems, and will come from its product businesses.
Palo Alto-based HP, whose products include PCs, printers, computer servers and toner cartridges, announced the additional cuts Tuesday in a conference call with analysts to discuss the company's fiscal second-quarter results.
HP's chief financial officer, Cathie Lesjak, told analysts the new cuts will be "targeted actions to structurally change and improve the effectiveness of our product businesses," but didn't provide more details. The new cuts will happen over the next year.
HP reported Tuesday that its profit dropped 17 percent to $1.72 billion, while sales fell 3 percent to $27.4 billion, in the latest period.
HP had 321,000 employees as of Oct. 31 of last year, the latest period for which headcount data is publicly available.
Palo Alto-based HP, whose products include PCs, printers, computer servers and toner cartridges, announced the additional cuts Tuesday in a conference call with analysts to discuss the company's fiscal second-quarter results.
HP's chief financial officer, Cathie Lesjak, told analysts the new cuts will be "targeted actions to structurally change and improve the effectiveness of our product businesses," but didn't provide more details. The new cuts will happen over the next year.
HP reported Tuesday that its profit dropped 17 percent to $1.72 billion, while sales fell 3 percent to $27.4 billion, in the latest period.
HP had 321,000 employees as of Oct. 31 of last year, the latest period for which headcount data is publicly available.
MTV signs deal with HCL for online support
HCL Technologies on Wednesday announced signing a global outsourcing deal with MTV Networks (MTVN) to develop and support its online media platforms. The financial details were not disclosed.
MTV Networks is part of media conglomerate Viacom and owns brands such as MTV, VH1, Nickelodeon and Comedy Central. The outsourcing engagement with HCL is aimed at supporting content delivery on the Internet.
HCL and MTVN signed the deal in the October- December quarter last year. It was not disclosed when HCL will start generating revenues from the contract.
MTV Networks is part of media conglomerate Viacom and owns brands such as MTV, VH1, Nickelodeon and Comedy Central. The outsourcing engagement with HCL is aimed at supporting content delivery on the Internet.
HCL and MTVN signed the deal in the October- December quarter last year. It was not disclosed when HCL will start generating revenues from the contract.
Yahoo eyes acquisitions, social media
Yahoo Inc is looking to buy companies that will allow it to become a bigger player in social networking and revamp its family of products, Chief Technology Officer Ari Balogh said on Wednesday.
"It's a good time to be buying now," he told the Reuters Global Technology Summit, pointing to valuations that have come down from levels six to nine months ago.
"It's a good time to be buying now," he told the Reuters Global Technology Summit, pointing to valuations that have come down from levels six to nine months ago.
Intelligroup focuses on infra outsourcing
US-based Intelligroup Inc, a provider of strategic IT consulting, application management, support and implementation services, is betting big on infrastructure outsourcing to garner a higher offshore revenue mix, said company’s senior vice-president (global marketing and alliances) Alok Pant.
“In today’s environment, the major driver for most companies is cost take-outs, especially from infrastructure such as data centres, networks and printers. Customers are now taking a hard look at taking costs out of these and infrastructure is on the top of their lists. This is where we are set to grow,” he told Business Standard.
“In today’s environment, the major driver for most companies is cost take-outs, especially from infrastructure such as data centres, networks and printers. Customers are now taking a hard look at taking costs out of these and infrastructure is on the top of their lists. This is where we are set to grow,” he told Business Standard.
Yash Birla moves into IT sector
The Rs 3,000-crore Yash Birla Group (YBG) marked its foray into the IT sector with the acquisition of Mumbai-based Melstar Information Technologies. Listed on the Bombay Stock Exchange and National Stock Exchange, Melstar is a service provider of professional consulting and project services and solutions.
“The Melstar acquisition fits into the Group’s ongoing thrust on growth and exploring new-age sectors like education, healthcare and IT. We see a strategic fit between the Yash Birla Group and Melstar vis-à-vis the directions that the Group has set for itself,” said Yash Birla, chairman.
“The Melstar acquisition fits into the Group’s ongoing thrust on growth and exploring new-age sectors like education, healthcare and IT. We see a strategic fit between the Yash Birla Group and Melstar vis-à-vis the directions that the Group has set for itself,” said Yash Birla, chairman.
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