Layoffs at IBM total more than 9,000 for the year.
According to leaked copies of the company’s internal “resource action” packages, total verifiable layoffs through Aug. 24 number 9,298.
The company has acknowledged some layoffs, but has steadfastly refused to give details, such as numbers or locations.
Source: Times Herald-Record
Cisco Systems Inc., the largest maker of networking equipment, predicted that revenue will drop for a fourth straight quarter as the recession crimps orders of networking equipment. Revenue will fall 15 percent to 17 percent in the fiscal first quarter, which ends in October, the company said today.
Source: Bloomberg
U.S. hard disk maker Seagate Technology Ltd.Tuesday said it will close down its Singapore hard disk drive manufacturing plant by the end of next year and lay off 2,000 workers as a result.
Source: NASDAQ.com
According to ComputerWorld: “More layoffs are expected at Sun Microsystems Inc. as a result of Oracle Corp.’s planned $7.4 billion acquisition, with one Wall Street analyst predicting today that as many as 10,000 people could lose their jobs at the Silicon Valley icon.”
Update 1 (4-20-2009)
According to Reuters: “Oracle Corp plans to enter the computer hardware market by buying Sun Microsystems Inc for more than $7 billion, swooping in after Sun’s talks with IBM fell apart.”
Update 2 (4-20-2009)
According to Reuters: “Microsoft’s chief executive said on Monday he was ‘very surprised‘ by Oracle Corp’s plans to buy Sun Microsystems Inc.”
According to WSJ: “Given Sun’s relatively low operating margins, there’s no doubt plenty of fat to cut in areas like sales and marketing.”
According to ComputerWorld: “More layoffs are expected at Sun Microsystems Inc. as a result of Oracle Corp.’s planned $7.4 billion acquisition, with one Wall Street analyst predicting today that as many as 10,000 people could lose their jobs at the Silicon Valley icon.”
With sales still in steep decline and no sign of recovery on the horizon, Cisco is expected to make a massive staff cut.
Analysts expect Cisco to guide fiscal fourth quarter revenue down 17%-22% year-over-year, as demand continues to deteriorate.
Cisco could also announce a 10% headcount reduction, which could save $900M annually, according to JPMorgan analysts.
Source: Yahoo Finance, TheStreet.com
Update 1 (04-14-2009): Cisco dismisses ‘hefty’ layoffs rumor. According to a Cisco spokesperson: “On our fiscal second quarter 2009 earnings call in February we discussed a limited restructuring where we could in the near term see a total reduction of between 1,500 and 2,000 jobs company wide. This does not represent a broad-scale layoff in our workforce”.
Source: The Register
Update 2 (04-16-2009): According to WARN listing, Cisco Systems cuts 255 jobs in San Jose, California in April 2009
Update 3 (04-30-2009): According to rumors, Cisco “will delay the 10% layoff planned in May. But we will get 1 week shutdown in August”.
~ LayOffBlog.com: Please feel free to add comments and/or send us your updates regarding Cisco layoffs. ~
According to Reuters, Yahoo News: “IBM is in talks to buy Sun Microsystems Inc for at least $6.5 billion, The Wall Street Journal reported, in a deal that could bolster their computer server products against rivals such as Hewlett-Packard Co.
That would translate into a premium of about 100 percent over Sun’s Nasdaq closing price Tuesday of $4.97 a share, the paper said, citing people familiar with the matter.”
“Sun stock is down 71 percent in the last 52 weeks, a far cry from an all-time high of $258.75 that it touched during the dot-com boom. The company — which is shedding up to 6,000 jobs, or 18 percent of its workforce — reported a net loss of $209 million for its second quarter ended December 28, compared with year-earlier net profit of $260 million. Revenue fell 11 percent to $3.22 billion.”
TTM Technologies, Inc. (Nasdaq:TTMI), North America’s largest printed circuit board (PCB) manufacturer, today announced that it will close its Redmond, Washington facility during the first quarter of 2009 due to weakened demand for commercial PCBs.
The Redmond operation, which primarily produces commercial printed circuit boards, employs 374 full-time employees and 55 temporary employees. In addition to the Redmond closure, TTM is reducing headcount at other plants by approximately 140 employees. The combined layoff represents approximately 14 percent of the company’s work force.
Source: GlobeNewswire
Seagate’s December sales were much worse than feared and the company is expected to respond to revenues falling off a cliff by sending up to ten per cent of its staff after them.
A restructuring could involve the closure of plants to reduce product capacity, reduction in research and development spending, and the loss of up to 5,400 jobs. It is expected to be announced later this month.
Source: The Register
Update (1-12-2009): Seagate will lay off 10 percent of its U.S. work force, or about 800 people, according to Business Week
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