LayoffBlog.com

Wells Fargo & Co., one of the largest U.S. lenders, told employees this month that it’s considering cutting foreign workers, citing political pressure stemming from the government’s bailout of the banking industry.

When the stimulus bill became law in February, it included rules that made it more difficult for TARP recipients to hire foreign workers on so-called H-1B visas.

The legislation doesn’t apply to current employees of Wells and other TARP recipients who need to have their existing H-1B visas renewed. However, Wells Fargo is letting those visas expire anyway.

12 biggest banks that took TARP money requested visas for more than 21,800 foreign workers in the past six years, according to the Associated Press.

Source: MarketWatch

~News submitted by upthecreek

WebGuild reports: Today, in documents obtain by the Associated Press, Google filed a paper document with the SEC stating that “a substantial number of temporary workers” had been laid off. The company has sought special exemption to keep the document from circulating on the Web.

The document states that Google has 24,400 employees, however on  September 30, 2008 the company reported  to the SEC that it had 20,123 employees when in reality it had 30,000. At that time Google did not report the 10,000 temporary employees to the SEC, because Google wanted the option to lay off employees on demand to meeting earning expectations without reporting to the SEC.

Now the company says 4,300 of the 24,400 employees are temporary. So why report temporary employees now and not then? Why get an exemption to keep the documents private?

Further the company reported 30,000 employees on November 24, 2008 and 24,400 on Dec 15, 2008. Where did 6,000 employees disappear to in 3 weeks?

According to Yahoo Tech: “One message states that IBM will announce 16,000 layoffs on Jan. 23, affecting workers worldwide. Similar predictions are made in other recent posts on the site, which is run by the Alliance@IBM/Communications Workers of America Local 1701, a union that is trying to organize IBM workers.”

“The union, while still in an organizing phase and not yet recognized by IBM, has about 6,000 members, including IBM employees and retirees, according to national coordinator Lee Conrad. But because the union has not reached an employment contract with IBM, there is “not an awful lot” it can do except raise awareness of the issue”.

LayoffBlog.com: Stay tuned for more info.

An unofficial online employee Web site, IBMemployee.com, says massive layoffs are coming to Big Blue later this month, according to Times Herald-Record.

“All divisions in IBM will be affected,” says one entry, adding the majority of those cuts will be announced Jan. 23.

“Several more posts say approximately 16,000 employees, mostly in the U.S., will be affected.”

• IBM has more than 386,000 employees worldwide, according to its Web site. If the rumored 16,000 figure proves accurate, then, it would equal roughly a 4% reduction in headcount.

IBM’s been cutting people every couple of weeks, but they’re small, silent cuts. What we’re concerned about is a massive one, according to various insider sources.

Update: Union tries to organize IBM workers

Update 1 (Jan 06, 2008): IBM Employees Buzzing About Layoff Rumors

Update 2 (Jan 11, 2009): IBM approves Obama’s IT stimulus package; $30bn will create 900,000 jobs, healthy IBM

Rumor (Jan 19, 2009): Massive layoff packages offered on 1/27

Update 3 (Jan 19, 2009): Stress levels rise at IBM as word of job cuts swirls

Update 4 (Jan 20, 2009):

• Several sources warn of imminent job cuts announcement.
• IBM Profit Tops Forecast; Outlook Better than Expected, according to CNBC: “The guidance of $9.20 is awesome… looks like their outsourcing, packaging, cost containment strategy is working. They executed really well..”

Update 5 (Jan 21, 2009):

• According to rumor, IBM started to cut sales and engineering positions in US.
• The arguably more-important indicator of IBM’s performance — its top line — fell 6.4%, according to WSJ

Update  6 (Jan 22, 2008):

• IBM confirms job layoffs: “28 out of 45 cut,” according to a another entry, from Austin, Texas. “Young and old, top and bottom performers. Never show me great 4Q numbers again.”, according to Betanews
• IBM employees reported yesterday that the layoffs are already happening in IBM software and distribution divisions in the US and Canada, according to multiple news sources

Update 7 (March 11, 2009): Scattered layoffs in IBM can touch 4,600

Update 8 (March 11, 2009): IBM Cutting More Jobs, Shifting Work to India

~ LayOffBlog.com: Please feel free to comment this info and/or send us your updates regarding IBM layoffs. ~

According to rumors from different sources: “The rumor that Microsoft was set to lay off people in January 15th 2009 is no longer a rumor but a fact. Staff at Microsoft has been informed that the company is readying major layoffs to its worldwide operations and it’s not a small cut either.”

“So far we haven’t managed to confirm what departments or regions which will be hit the worst, but we’re hearing that MSN might be carrying the brunt of the layoffs. We’re also hearing rumors about the possibility of somewhat larger staff cuts at Microsoft EMEA (Europe, Middle East and Africa).”

“It’s unlikely that Microsoft will be laying off a lot of people in departments and regions that are doing well and considering the recent upturn in console sales, we have a feeling that at least most of the people working in the Xbox 360 departments will be pretty safe.”

“The layoffs will take place a week before Microsoft’s Q2 earnings report which takes place on the 22nd of January 2009 and it doesn’t seem like the date set for the layoffs is coincidental.”

• “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. That’s almost 17 percent of Microsoft’s total work force, not exactly a small number.”

~ LayOffBlog.com:  Please feel free to comment this info or send us your updates regarding Microsoft layoffs. ~

According to Valleywag: “Yahoo’s script for performing the layoff begins when the boss walks up to an employee getting the sack. And then he says, “Thank you, [FIRST NAME HERE], for coming in. I have some information regarding our organization I’d like to tell you in person.” The anodyne managementspeak just gets worse from there: “I appreciate what you have done for Yahoo.”"

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According to leaks and rumors from several online sources:

F*Startups.com: “Google will slash 1,000+ employees sometime within the next week.”

WebGuild.com: “Google has been quietly laying off staff and up to 10,000 jobs could be on the chopping block according to sources. Since August, hundreds of employees have been laid off and there are reports that about 500 of them were recruiters for Google.”