IT Sector
Not a happy new year for 1400 AOL staff!
AOL will be getting rid of staff in the German offices in Hamburg, Dusseldorf, Frankfurt and Munich and firing up to 140 people. They all plan to sack everyone in the Spanish and Swedish offices.
Total losses = 1400
300,000 IT jobs axed globally this year.
Nearly 300,000 global back-office IT jobs will have been lost in 2009 by the end of the year. The Hackett Group analysed 4000 global companies in North America and Europe with over $1bn in revenue. It found that jobs were cut in all back-office industries – HR, finance and procurement – but IT suffered most.
Total losses = 300,000
Searchme: need a buyer or $100 million.
Source: CEO Randy Adams on Techcrunch;
We haven’t closed the financing. We knew when we started the company that to compete with the likes of Microsoft, Google and Yahoo, it was going to take at least $100 million, half to build the back end across thousands of servers and half to get distribution (maybe more with Microsoft spending $100 million on Bing advertising alone).
What we didn’t plan on was the terrible downturn in the economy which made it impossible to raise another $50 million to get distribution (mainly through toolbar deals). In this economy nobody wants to invest that kind of money in a company that is pre-revenue, even if the net result is potentially a multi-billion dollar company.
Cruvic: I was very sad to see this wonderful search engine up for sale and even worse offline. I used it a lot on my mobile and it was extremely useful. I do hope they find the money in the future or a suitable solution. Unfortunately their loss is someone elses gain and no doubt a company that has lots of cash to burn will take this idea and make it even better.
Related Posts: Google Fast Flip
Wikipedia: searchme
Crunch victims for first week of June 2009.
Here is a sample of job losses, layoffs, and people being fired for various reasons during the first week of June 2009. Not a good sight to see.
Machester Tank closes plant, 66 jobs lost
Fort Wayne Foundry Corp cuts 461 jobs
Harsco Corp cuts 90 jobs
Nearly 100 Turner Industries contract maintenance workers were laid off from the Georgia Gulf plant in Plaquemine
Lockheed Martin layoffs 100 employees
10000 jobs under threat at Royal Dutch Shell
Multiserv layoffs 90 employees
Volvo USA cuts 135 jobs
Southco Inc. laid off 200 employees throughout its global network Wednesday, including 69 at its Delaware County headquarters. The general economic conditions were the cause of these reductions.
Penske Logistis layoffs 53 truck drivers
Nestor Traffic Systems goes into receivership, more than 100 jobs at stake
ABB cuts 25 jobs at Jefferson City plant
Trane Inc will layoff 320 at Pueblo plant by August
Barlow Lyde & Gilbert layoffs 49 in England
McDermott layoffs 25 lawyers and 47 staff
Satyam may layoff only 5000
Philips Products closes Stayton plant, 125 jobs lost
Call centre operator MCCI layoffs 450
University of Colorado cuts 75 jobs
Paragon Industries cuts 105 jobs
Tree of Life layoffs 39 jobs
Hardigg Industries cuts 50 jobs
AGCo cuts 60 jobs
Rheem Manufacturing cuts 470 employees
Aegon USA a subsidiary of Netherlands-based insurer Aegon N.V., will cut 138 positions from its Louisville offices at Aegon Tower.
Emerson lays off 176 in Minnesota
Capital Group cuts 820 jobs
Principal Financial Group cuts 220 jobs
Ken-American Resources layoffs 75 employees
Fidelity Investments layoffs 45 in Merrimack
Dorsey & Whitney cuts 55 jobs
Harris Corp layoffs 100 mechanical engineers
Waukesha Engine cuts 113 jobs. The layoffs, plus the 84 layoffs and 17 early retirements in February, account for 40 percent of the plant’s union members. The company blames the Economic Downturn has affected their product so they are trying to align their work force.
Wausau Paper closes Appleton facility, 100 jobs lost
John Deere layoffs 494 workers at Iowa plant
Nanogen layoffs 89 employees
Suzuki & Mitsubishi car delarships to close in Hernando County, 80 jobs lost
Autodesk Inc to cut 430 jobs in latest round of layoffs
Metlife layoffs around 250
Greenwich Hospital layoffs 77 employees
Hewlett Packard to layoff 6400 staff.
HP is to layoff 6400 workers, or 2 percent of HP’s global staff of 321000. HP, whose products include PCs, printers, computer servers, ink and toner cartridges, didn’t provide more detail on those cuts.
The layoffs come on top of the 24600 jobs HP was already dumping as part of its acquisition of Electronic Data Systems.
Job losses = 6400
IT Sector Job Cuts
Here is a list of IT companies who have become Crunch Victims.
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700 people to lose their jobs at AOL.
Ten percent of AOL’s staff will be cut in the coming weeks. AOL join a whole bunch of companies who have recently shed jobs because of the GEDT. AOL Chief Executive Randy Falco told employees in a memo Wednesday that AOL plans to cut the jobs in the next several quarters, and that the company hopes to have any U.S.-based cuts completed by the end of March. He also said that AOL will skip merit pay raises in 2009.
Total losses = 700
Global IT sector hit hard by CEDT.
The IT sector around the world is being hammered by job losses because of the current economic down turn (CEDT).
Just today Microsoft sacked 1400 people, and a further 3600 will go in the coming months. There are fears that up to 60000 jobs will go at the Intel facility in the Philippines. Intel are the biggest computer chip makers. Their competition AMD has already shed 1100 jobs a couple of days ago. Texas Instruments have already started laying off 400 jobs from its semiconductor factory in the northern resort town of Baguio due to the global financial crisis (GFC).
Sun Microsystems Inc. have already laid off 6000 people. Santa Clara, which this week unveiled plans to reduce its global workforce by about 12% or 1800 workers. National Semiconductor Corp., said it is cutting 330 jobs.
One of the largest cuts announced last year September after the merger of Hewlett-Packard Co. and Electronic Data Systems Corp. Hewlett-Packard Co. said that it planned to cut as many as 25,000 employees as a result of the merger.
Lenovo started 2009 by announcing plans to cut 2500 jobs or 11% of its workforce. In Tokyo, electronics and entertainment giant Sony Corp. said that it would offer early retirement to employees in its TV division and would eliminate jobs at its movies, music and games units. The company, which is facing its first yearly loss in 14 years, also said it would cut 1000 temporary workers in Japan when it shut down a TV plant.
Autodesk Inc. cut 750 jobs, while Advanced Micro Devices Inc. eliminated 1100 positions – on top of 2200 announced layoffs last year.
Microsoft not immune as 1400 jobs go today.
So even Microsoft the biggest player in the IT world is letting go 5000 brilliant people because of the global economic down turn.
Microsoft CEO Steve Ballmer said in a statement today,
While we are not immune to the effects of the economy, I am confident in the strength of our product portfolio and soundness of our approach. We’re certainly in the midst of a once-in-a-lifetime set of economic conditions. The economy is resetting to a lower level of business and consumer spending. The reductions will be in the areas of research and development, marketing, sales, finance, legal, human resources and information technology, and about 1,400 of those cuts will occur today.
Well, why on earth did you hire those 5000 geniuses in the first place Mr Ballmer?
Job losses: 1400 (3600 over 18 months).
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Chip company AMD to cut 1100 jobs.
AMD is to cut 1100 jobs and cut salaries in a drive to save money in these hard times.
Quoted from VNUNET.com
Those expecting lighter pay packets in the coming months include chief executive Dirk Meyer and chairman Hector Ruiz, who will see their wages cut by 20 per cent. Other senior staff members will see their salaries reduced by 15 per cent, while lower-rung staff can expect cuts of between 10 and 15 per cent.
An apparently leaked memo from AMD’s CEO Dirk Meyer to AMD’s employees was leaked to various websites over the weekend and, if it’s genuine, it shows that AMD is also planning other cost cutting measures. The memo also asks staff to ‘continue treating every discretionary spend decision as though it were your own, including continuing the hiring freeze, scrutinizing all overtime and contract labor activity and eliminating all travel not related to serving key customers and growing revenues.’
Job losses: 1100
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Bad news for at least 18 companies or 21000 jobs.
Quoted from Bloomberg
Not a great Friday after news that roughly 21000 jobs would be lost for at least 20 companies.
- Hertz, the second-largest U.S. rental-car company, said it will cut more than 4000 jobs.
- WellPoint, the second-largest U.S. health insurer, will end 1500 jobs, which include 600 workers and 900 open positions.
- Clear Channel Communications Inc. will lay off 1500 employees on Jan. 20, mostly in ad sales.
- ConocoPhillips, the second-largest U.S. refiner, announced after the markets closed that it plans to cut 4 percent of its workforce, or about 1350 jobs.
- Advanced Micro, the second-largest producer of personal- computer processors, said it will eliminate 1100 jobs by the end of the first quarter.
- Amonil said it will cut 45 percent of its staff, or 389 jobs, this year.
- Magneti Marelli will eliminate 800 jobs in Brazil, or 10 percent of its workforce there.
- General Electric Co.’s finance arm may cut 7500 to 11000 jobs, or at least 10 percent of its workforce.
- De Beers, the world’s biggest diamond company, said it will cut jobs at its six mines in South Africa, totaling “less than” 1000 people.
- Interwoven Inc., the provider of data-management software, announced after trading hours that it would cut 70 jobs.
- Blue Cross Blue Shield of Michigan will cut up to 1000 jobs in 2009.
- Renold Plc, the maker of the chains that drive the clock in London’s Big Ben, announced 350 job reductions.
- WS Atkins Plc, the U.K.’s biggest engineering-design company, plans to eliminate 210 jobs at its Middle East operations.
- Scania AB, Sweden’s second-largest maker of heavy trucks, said it won’t renew contracts for 2000 temporary employees to adjust production because of weaker demand.
- Haynes International Inc., the manufacturer of alloys for use in aerospace and chemical processing, said it will eliminate 12 percent of its global workforce.
- Varian Inc., manufacturer of scientific instruments and vacuum technologies, will shed 240 jobs.
- Banco Santander SA, Spain’s biggest bank, eliminated 400 jobs in Brazil after buying ABN Amro Holding NV’s Banco Real unit in the country.
- Harry & David Holdings, a fruit and food retailer, said it would cut more than 100 positions.
Job losses: +-21000
Original article By Oshrat Carmiel, ocarmiel1@bloomberg.net
Seagate to axe 3000 jobs worldwide.
Quoted from PC Pro
Seagate says it will be axing around 3,000 jobs worldwide, a startling increase on the 800 originally announced.
The cuts were revealed in an SEC filing which stated: “The plan includes reducing worldwide headcount by approximately 2,950 people, representing approximately 6% of its global employee headcount, which is inclusive of the previously disclosed 10% reduction of the US workforce.”
Seagate also announced a major salary reduction program, effective in February for the CEO.
The CEO’s is currently paid “wait for it!” over a million bucks a year, so he has decided to take 25 percent cut (FFS!!!! people are losing their jobs here and the CEO is still getting $750,000 a year). I bet he feels so much better now.
Job losses: 3000
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