Layoffs in USA: Jan 2nd update

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.

Satyam Crisis[Update]: Founder's stake falls to 5.1 pct from 8.3

Satyam founders' stake falls to 5.1 pct from 8.3:

The promoter holding in Satyam Computer Services has dropped by over three per cent to 5.13 per cent following share sale by lenders, with whom Ramalinga Raju and family had pledged all their shares.

STEADY DECLINE

Year Promoter stake (in %)

Mar 2001 25.60

Mar 2002 22.26

Mar 2003 20.74

Mar 2004 17.35

Mar 2005 15.67

Mar 2006 14.02

Mar 2007 8.79

Dec 2008 5.13

The biggest reduction came in March 2007 when the stake went down to single digits at 8.79 per cent.

Customers continue to show trust in Satyam: Raju

Even as four of the company's independent directors have tendered their resignations, following the company's failed bid to buy his family-promoted Maytas Properties and Maytas Infra, founder and chairman of the beleaguered Satyam Computer Services, B Ramalinga Raju, said that the company's customers "continue to show a high level of trust in Satyam".

Raju stated that Satyam had also been in contact with many of its investors, and the company had taken key steps to regain their confidence.

Satyam staff keep their fingers crossed:

Source: The Hindu

HYDERABAD: Amid the raging controversies, some employees in Satyam Computer Services have embarked on a job search, while a large workforce has kept its fingers crossed on the future of the company in the wake of reports suggesting that there is a likelihood of change in management.

Senior Satyam staff in search of other jobs:

Bangalore: After the drop out of some Independent Directors, Satyam's shaky movements force many of its employees to think about new jobs and they have started approaching recruitment firms to find out similar jobs in other organizations. Though Satyam's Founder and Chairman B. Ramalinga Raju has requested the employees to stay with the firm till everything is back on track, the employees seem to be not at all willing to wait anymore and they are in search of new jobs, reported Financial Chronicle.

"We have got a number of calls in the past few days from people in the Vice-President, Senior Vice-President level and above, looking for other options," said Kris Lakshmikanth, Chief Executive Officer of Bangalore-based Head Hunters India. Not only senior level employees but also employees at lower levels have started new job searching.

Group of IT professionals at Chennai working on Wiki India

The knowledge foundation(A group of 60-70 mostly young IT professionals) at Chennai has mooted attempts to start the India chapter of the Wikimedia foundation, whose chapters are present in 13 countries around the world. Each of these chapters runs on a fund of $6 million per year, obtained through corporate endowments and individual donations. The group is working on a deadline of 2010.

5 Reasons Why Not to Be Shocked by Microsoft Layoffs

The big question isn’t, is Microsoft planning to cut 15,000 employees from its workforce? Nope, the big question is, why is everyone so shocked?

Yahoo just gave pink-slips as Christmas presents and even Google had to scale back on its staff, so why is there so much shock at the prospect of Microsoft following suit?

All you have to do is consider the facts:

1. Windows Vista was a bust, and MSFT is moving quickly to get Windows 7 to the market.

2. Windows Live Search still can’t catch Google–and failed attempts to buy Yahoo cost the company time and money.

3. Who really needs Microsoft Office, when we can either download free alternatives or, in my opinion even better, move to the cloud?

4. XBox 360, while doing better than the Playstation 3, was "pwnd" by Nintendo’s Wii gaming system.

5. The Zune? Yeah, folks just loved it when their iPod alternative froze recently–that’ll help sales.

We’re in a recession and companies are having to make drastic cuts and, unfortunately, Microsoft is not immune from this.

Satyam supporters can post a message on RamalingaRaju.com

Some of Ramalinga Raju's supporters have launched ramalingaraju.com, a site dedicated to the ‘goodness’ of Mr. Raju.

You can post a message in the website http://ramalingaraju.com/ if you wish to support Mr.Raju and glory of Satyam.

Welcome 2009

We wish you all a Happy and a Healthy New Year !