Microsoft Layoff rumours spreading allover
Currently Microsoft employs about 90,000 people across the world and from what we're hearing, some 15,000 of those are expected to be giving marching orders come January 15th(first time in 32 yr old MSFT history). That's almost 17 percent of Microsoft's total work force, not exactly a small number. Also see '5 Reasons Why Not to Be Shocked by Microsoft Layoffs'.
Lenovo to layoff 200 employees
Lenovo Group, the world's No.4 personal computer maker, plans to lay off 200 employees at its headquarters in Beijing as it fights tough economic conditions, a Chinese magazine stated.
Motorola Inc. said Tuesday that it expects an additional $25 million in severance charges in the fourth quarter related to the 400 additional jobs cut since the company announced its cost-reduction initiative in October. The telecom equipment-maker previously said the restructuring would include laying off 1,500 workers, mainly in its mobile devices segment, resulting in pretax charges of $104 million in the fourth quarter.
Citi execs forgo bonus
After a shockingly tumultuous year, Citigroup said Wednesday that its top executives will forgo their usual annual bonus.
In a letter to employees, Citigroup Chief Executive Vikram Pandit said the bonus structure would change for all employees. Pandit said he and Win Bischoff, the bank's chairman, will receive no bonus. Click here to read more on this.
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