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Oracle Layoffs Discussion (RSS)- By: former emp February 19, 2010well, i am guessing there may be a little more activity on this site again...former emp
- By: TrailMaster December 31, 2009Some advice to Oracle Consultants from a recent ex-Oracle consultant: 1. Just because you are on a billable assignment is no guarantee that you will not be selected to seek new opportunities. 2. Update your resume into a format that you can paste into a text box. Get rid of the tables in the Oracle resume template. 3. Consider a plan to download the conten […]TrailMaster
- By: Anonymous November 27, 2009How many years did you work for Oracle?Anonymous
- By: another one bites the dust November 24, 2009inside sources... they are quaking too, because they know they are next.another one bites the dust
- By: another one bites the dust November 24, 2009different practices have different way of handling this.another one bites the dust
- By: VNP November 24, 2009There's no posting for 4 days, does this means there was no layoff after November 13?VNP
- By: BanIndians November 24, 2009I am an Indian, born and raised here. I have been on so many projects. I have seen so many people from India, who come here from India have no experience. Most of them are fresh graduates and put fake experience on their resume and g0t jobs. Some other guys take interview for them since they are all phone interviews. Once they are on the job they get help fr […]BanIndians
- By: Anonymous November 23, 2009What happened to the Durbin-Grassley bill that was supposed to put stricter controls on H1 and L1s?Anonymous
- By: douchesoftware November 23, 2009Why wonder, Just go and find another job while youre still employed. You can see what NAC's strategy is.douchesoftware
- By: toberiffed November 20, 2009yes 50toberiffed
- By: former emp February 19, 2010
Here’s an example of a pretty crappy deal for employees–GE is changing its severance package policy and THEN laying off employees. Horrible PR plan.
http://www.pehub.com/26557/ge-capital-layoffs-on-hold-for-new-severance-policy/
TIBCO laid of atleast 30 people in Pune, India in Dec 2008.
Offered more than 2 months salary as Severance package.
Article on “what to do when you are laid off”
http://www.moneyallocator.com/articles/layoffs.asp
Article on “how to find a job on-line”
http://www.moneyallocator.com/articles/find_job.asp
Big name tech talent in demand
Times are tough in Silicon Valley with all the tech layoffs including big names like Yahoo! and Google, but smaller companies who are hiring are seeing something of a talent windfall. Blog posts about layoffs from big-name tech companies are full of comments from employers urging the newly unemployed to “get in touch”.
“Not everyone laid off from the big tech companies is going to be a gem, but it’s clear that some talented people have been laid off and are now available for hire” says Scott Barnham, part of the team that recently launched layofftalent.com.
“We started Layoff Talent after seeing a lot of good people laid off. The aim is to help them find new opportunities and give companies who are hiring a place to find newly available talent.”
Layoff of employees at TIBCO Pune is a lie. No employee is laid off by TIBCO in any of it’s India office. People posting news on web sites should do so after confirmingg the news. Please Stop the rumours.
Despite the downwarn spiraling of our economy, the company I work with due to the “red Flag Laws” passed by the Government on November 1st will probably have a record setting year in 2009. We are literally brining on board an army of sales people to keep up with the demand for our products and services. If you would like to know more, feel free to e mail me at denisemcsheffrey@gmail.com and I will forward you more information.
Mandatory meeting for all Wyndham Resorts sales staff morning of 1/07/09 at all Florida resorts. Major layoff expected. More will be revealed.
1,900 jobs cut at Limerick, Ireland Dell plant
Hi, I am Deepa Kurup a reporter with The HIndu. Bangalore. Please will anyone notify me when there are layoffs in companies so I can write about it. If you drop me an e-mail with a number I can call you back.
Lay-offs. forced holidays, cost cutting. Have written many before, so I know about anonymity issues. Will respect that. Do contact
dipakurup@gmail.com
Regards, Deepa
Quinstreet laid off between 15 to 30% of its employees last Monday (1/5/09). This came after the company forced most people to take unpaid leave in the last two weeks of December. Things seem to have gone south for this company pretty quickly. In November, the CEO stated how the company will weather the crisis. In December, he sent out another email stating how there will be cost cutting, which included canceling the bus that gave a ride to people from Hillsdale railway station. All travels were canceled and the annual party was redone to be a very muted affair.
The news of the impending layoffs reached people at head office after the upper management leaked this news to people in India office who then leaked it back to those in US. The company seems to have laid off anybody who is not supporting the existing stack - a sad tale of how things went downhill for the leader in the lead gathering business.
Nielsen Claritas laid off several people accross all departments today. Apparently 10% of the workforce was let go. No word on if they are done. Would love to know if other Nielsen companies are laying off more people.
another round of layoffs at MEVIO in last week of this month or early Feb.
Company workforce will be stripped to bare bones, most of them will go except few.
Reportedly CEO assured after 30% rif in Dec 2008 - “Mevio will not run out of money in Jan/Feb”. Not true, no more.
My husband works for a big USA company and just found out that he will be laid-off next week!
We are extremely stressed but since I am a writer I would like to share our ordeal and how we handle it, with you all. I have started a blog at
http://laidoff2.wordpress.com/2009/01/16/anatomy-of-a-lay-off/
called “Anatomy of a Lay-Off” and will be giving a blow by blow account of each step- inner thoughts and plans to mitigate problems following the hand that we’ve been dealt. Please visit and give advice!
How to Survive a Layoff
Proceed with caution!
Each step you take after being laid off can influence your ability to support yourself (and your family). Whether you left on your own terms, or the terms were handed to you, know that your money is your own. You bear the risks and losses, rewards and returns.
Ask yourself 4 questions
1. How do you feel about your company’s future?
2. Who cares more about your savings, you or your ex-firm?
3. How did your 401(k) perform last year?
4. What would you do differently with your 401(k)?
Take these 6 steps
1. Study your severance. Read the fine print of your severance package and compare these with your company’s benefits package. It’s reasonable to ask for time to review the documents before you sign. Better yet, try to negotiate better terms for yourself.
-Tip: Know and care for your severance documents as you would a winning lottery ticket!
2. Figure out your cash flow. Time to re-do your budget, tap all potential income sources and add up your daily, short- and long-term expenses. Will re-financing your home at a lower rate save you extra cash? Can you defer loan payments? Do you have enough insurance?
-Tip: Cash flows can be complex. Check out my website for tools or email me.
3. Stake your claim. Do you pay for car insurance? If a city bus hit you and wrecked your car, would you file a claim with your insurance company? You and your employer paid for unemployment insurance in the event
that you had to leave involuntarily. File your claim for unemployment now!
-Tip: Worked in California? Check out http://www.edd.ca.gov.
4. Get rolling. Think about taking your 401(k) with you by rolling it over into an IRA under your control. If you left your 401(k) behind, would you have the same access and options?
Don’t even think about cashing out your 401(k) without first consulting your financial advisor…getting audited by the IRS and owing Uncle Sam can be worse than being unemployed.
-Tip: Your 401(k) is fragile. Roll it over with care.
5. Cover up. Don’t leave yourself exposed. Cover yourself with insurance. How long you are you covered by your employer?Compare the price of insurance under COBRA with what you can buy on your own.
-Tip: Shop insurance life, health and other insurance plans to get the best rates.
6. Learn from ESOP’s fables. As we learned in the Tortoise and the Hare, slow and steady wins the race. Did your stock options leap from $10 to $100 per share, or tank in the other direction?Either way, after leaving your job you still need to know which options are vested/unvested, when these are exercisable or expire, how to access your options online and about restrictions.
-Tip: Manage your expectations and your pace. Get my help to sort out your options.
About me
I provide economic and financial guidance to domestic and foreign individuals, companies and institutions. I am an alumna of UC Berkeley (Economics) and Harvard University (MPP Business & Government). I led the State of California’s economic advisory board during the state’s 2002-2006 economic expansion.
Have questions? You’re not alone. The news is long on market tantrums and short on solid economic information. I am here to help you make sensible decisions during these volatile times.
Stacie Olivares-Howard
Financial Planner
Financial Planning Specialist
o:626.304.2444/ 800.421.7148
f:626.397.4039
e:stacie.olivareshoward@smithbarney.com
citi smith barney 301 N. Lake Ave. Penthouse, Pasadena, CA 91101
Contact me about your 2009 Financial Recovery Strategy
http://fa.smithbarney.com/stacieolivareshoward
Fannie mae finally lays off hundreds of employees. Rumor is that they will layoff about 800-1000 employees.
I just got laid-off and would like to share my new blog post with you.
It’ A Day After Lay-off!
Thanks
When I get laid off later this year off I am going to kill myself. They tax you to death all your life and pocket the money and then use bailout money to pay their business buddies while we all lose our jobs and homes and measly retirements. If the mega rich in America were real Americans they would take a step back from the feed trough and take a pay cut to save our nation. It’s just not worth it anymore. The rich bastards won’t get any more tax money from me.
#17: Hey, Paul, I don’t think this is a good idea. Take some time off, try to relax. This is just another recession, nothing else.
I am a 56yr old who has worked all my life. I was in electronics since 1972 and had moved from one firm to another because of lay offs. I was laid off after announcing I was pregnant after 11yrs there commution 30mi over a dangerous hill. I couldn’t keep a job because my son was born with problems. I had to quit alot of jobs to take care of him on and off. I was let go of one job because I wouldn’t sleep with the manager, I was let go from one job because the female boss wanted me and I declined. I was let go from one job the day after arm surgery. I injured myself at work but couldn’t report it for fear of being laid off. They gave me 1K for keeping my mouth shut forever. I needed the $$. Now I had to take ANY job which landed me at Sears. Now they cut my hrs to 3.75 a week!! How can I survive? I can’t qualify for fed. asst because I have a CD account and own 3 beater vehicles that aren’t worth selling. I rent in the highest place in Calif. but can’t afford to move without a good job. My 15yr old son is a Basketball star at his HS but I can’t afford to pay to play much less feed a 6′3 boy.
Anyone have a job for me?
Has anybody heard layoff from HR department? I am wondering, for example, when BofA is implementing the massive job cuts plan, never heard HR staff got pink slips. Is it fair? The HR department has ever and never created any profits.
Don’t do anything foolish, #17. I’m retired now and don’t have to face the cutback stress of past years. I worked in the electronic field as an engineer and was laid of a few times, once when the company downsized to sell itself and twice during severe recessions and loss of business. But, when I got back to work I always got a better job! And so didn’t those who were laid off with me. And I’m sure that you know people who faired better after losing a job and then getting a new one. Recessions and downturns are a part of a work life (for most people). Some are lucky to stay 30 years in one place (or are they lucky? Many time they have to stay in a lousy job, for various reasons). So don’t despair. Things usually work out for the better. It may take some time, but hang in.
Sybase has been having layoffs since November 2008. These layoffs have affected HR, IT and Engineering at Sybase offices throughout the country. The layoffs continue. Don’t be fooled by the CEO who claims that there haven’t been any layoffs.
I’d like to share a comprehensive layoff prep list that we put together through discussion and research.
21 Ways To Prepare For the “L” Word. Please commetn and add some points that we may have missed out. Thanks.
Here’s the link:
http://laidoff2.wordpress.com/2009/02/03/21-ways-to-prepare-for-layoff/
Hi Folks !
Would anyone have any info. on contractual job lossess. Would you know of any support sites like some of the links above on what benefits are available for H1B IT contractors if they lose a project. By and large none but just wanted to make sure if they would be eligible for unemployment benefits.
Any IT firm would have about 20-30% contractual staff, so when one hears about say a 5% layoff in a concern, one could probably read it as a total job loss of 25%-35%. The no is huge and I am concerned for obvious reasons. Please help.
A Wall Street Party That Isn’t Depressing
Posted by Heidi N. Moore
Parties — particularly in investment banking — are in short supply in this recession. That is, unless you are in the bankruptcy and restructuring business, in which case the time has never been better for intense socializing.
Last week, Jefferies Group held its annual restructuring party at midtown Manhattan hotspot Tao, inviting 850 people. On the restructuring circuit – and yes, there is one – it is one of the biggest annual events, alongside the yearly Christmas party thrown by Houlihan Lokey Howard & Zukin. Jefferies has held its bash around the time of the Chinese New Year for the past 10 years, mainly to differentiate itself from the run of holiday parties in December.
This year, by all accounts, should have been a blowout, given the high expectations for the bankruptcy business — and it was.
Over 600 besuited bankers, lenders, traders, hedge fund managers lined up in a queue nearly a block long in subzero temperatures on a windy city street to enter the restaurant, which was once filmed in the zeitgeisty show Sex and the City. Jefferies kept two assistants at the door — supported by two giant men acting as bouncers — to check names and credentials, given that the event is often attended by gatecrashers. On offer in the restaurant were mini-hamburgers, roasted duck and seafood canapes — shrimp tempura on a stick, miso-baked sea bass. One restructuring expert, eyeing the sea bass, mocked the wastefulness of his Wall Street counterparts at big banks, asking, “is it endangered? Because I won’t eat it unless it’s endangered.”
Once inside, the attendees mingled in front of a massive gray stone statue of the Buddha, whose calm expression was in notable counterpoint to the fact that many of the attendees make their living by perfecting the art of chaos.
The mood in the two-level space was orderly, business-like, and extremely earnest. One lawyer held court near the staircase: “…and it’s impossible to get exit financing….” Most of the conversations centered on the tight credit markets, and how hard it had made the bankruptcy-advisory business. We asked one restructuring banker what he tells clients who need more financing to emerge from bankruptcy. “I tell them they can’t get it,” he said flatly. “If I want to be diplomatic, I tell them to wait.” His answer was echoed by many others: the entire industry is essentially frozen until lending frees up again.
The crowd was not the typical Wall Street crowd — it was full of lawyers and detail-oriented policy and trading wonks, mild-mannered, smiling, friendly schmoozers. There was not much swaggering.
We speculated to one attendee about how jobs form personalities: investment bankers tend to be smooth-mannered and optimistic from all their time selling to CEOs; traders have short attention spans and little patience for conversation once each side had given up the facts. We asked one executive recruiter how he would describe the personalities of restructuring experts. He paused. “It’s like the Mafia,” he said. “Don’t be fooled. They’re like Tony Soprano. They look all warm and lovable and cuddly — but they can slice 65,000 jobs with a swipe of the pen.”
Steve Strom, the co-head of Jefferies’ recapitalization & restructuring group, saw it slightly differently. “The restructuring community has a lot of experience working together and has to solve a lot of problems very quickly and very creatively,” he told us. “That’s one of the fulfilling parts of this business.”
And Strom took issue with the Mafia description. “A lot of people say you have to be very cynical in this business. I say, on the contrary, you have to be a tremendous optimist to fix things. I look at this as a misunderstood optimist’s club that focuses on getting things done in adverse circumstances. A lot of people at the Jefferies party help solve problems others can’t fathom.”
Anyone knows the Sen’s bill which prohibits bailed-out banks hiring H1-B workers is passed? No one mention about this news since the Senate Vesion stimulus passed last night. They will release around 20,000 posions to American workers, if this bill is adopted.
Rumor: Netapp Layoffs
There are rumours of an internal announcement that Netapp is cutting about 6.4% of its workforce..
Can anyone comment on whether any major companies are offering tuition reimbursement for any continuing ed or professional development as part of severance package. If so what is customary, and what type of course can you spend the money on? Thanks!
#29: It may work for those who are laid off temporary.
Other than that, it’s like COBRA: once you are gone - you are on your own. It’s sad, but what can we do about it? However these expenses could be tax deductible.
TI has started layoff in India as well, though they don’t call it layoff.
Employees are laid off quitely with ZERO severance.
Do you want to work for such un-ethical company??
TI has started layoff in India as well, though they don’t call it layoff.
Employees are laid off quitely with ZERO severance.
Do you want to work for such un-ethical company??
SHAME on TI.
Laying off people without severance in India. TI is treating Indians as second grade employees.
i am going to say TI is one of the worst company i have ever seen/worked
in one yr I have changed around 8 pc.
my first pc was p3 with 512 mb ram
and 8 gb hard disc
i worked/struggled on this pc for around 4 months
after changiong 8 pc in a yr
and all are outdated pc
wat de expect from employee
he is going to perform gr8
this is so frustrating i almost stopped working
not getting gud performance is solely there responsibility
While most people are getting laid off, Mercury has found their own way to save money. I must say that it is brilliant, yet cowardly and unfair. Instead of getting laid off, prepare to get fired! Yep, that’s right, insiders have discussed Mercury’s back-stabbing plan. They have been firing people left and right. Finding every ExCuSe in the Book to fire you!
In my opinion Mercury insurance is filled with the most UNFAIR and Dishonest people I have ever worked for. Thank God I was able to escape that nightmare of a place, but unfortunately a lot of employees there feel stuck. They are threatened with their jobs and with spreading rumors… and believe me, they have their employees scared good! I know from first hand experience. My current knowledge from some insiders is that this year, 2009, they are firing people all thru out the company.
I have one question… Is that leagal? I mean, doesn’t this raise a red flag somewhere, that all of the sudden people are getting “Fired” in the year 2009. What have hundreds of employees at Mercury done “wrong” or different in 2009 that makes their managers want to all of the sudden Fire them????
Does anyone have the answer to this, or any other comments and concerns? Any more info from the insiders?
TI is also following same path as ‘Mercury’ in India, Firing people giving performance excuse that is the simplest excuse in the world. They are saving all severance money. TI has definitely hired great HR who knows how to save money. “Legal and Ethical” words have vanished from TI’s books.
Is this legal in India??
Is there any section under which lawsuit could be filed against such unethical white colar companies in India???
Layoff’s seem to have effected website companies as well. SAPTechnical.COM, one of the SAP consultants favorite websites and next to SDN, is laying off 50% of their staff due to decrease in their revenues. Recruitment freeze in all companies and decrease in advertisement revenue has effected this a lot. The layoff includes recruitment team and marketing team.
Can the Stimulus Package Prevent My Layoff?
read about it at
http://laidoff2.wordpress.com/2009/03/05/stimulus-prevents-layoff/
thanks
It is a rumour that CISCO is planning to layoff 750 people in India. This is very shocking considering the low cost factor in India. The severance package I heard is complete 7 months salary.
Severance package offered by other companies in India is similar.
Cadence - 6 month salary
Motorola - 6-24 months salary
Texas Instruments - 0 Yes it is zero. This company only has rosy picture, it has worst policy. They are doing back door layoff in India.
http://biz.yahoo.com/ap/090309/mcclatchy_job_cuts.html
Newspaper publisher McClatchy Co. said Monday that it plans to eliminate 1,600 jobs, or 15 percent of its work force, as it contends with declining revenue and a deepening recession.
[..]
The latest round of cuts, which will start by the end of the first quarter and include just about every business component, will come through attrition, consolidating and outsourcing some functions and will include about $30 million in severance costs.
Last week The Sacramento Bee announced plans to cut 34 of the 268 Guild-covered positions in the editorial and advertising departments. Another 19 jobs would have been in jeopardy, but union members agreed to take pay cuts to save the positions. The Bee eliminated 86 positions in June as part of a 10 percent cut affecting all McClatchy papers and gave buyouts to another 87 employees in September, including 23 in its newsroom.
Wells Fargo Bank, home based in Minneapolis, MN., is outsourcing the Hogan and Quality Assurance teams to Wipro Consulting of India.
Wipro will hire two Hogan experts and two QA experts and replace the current staff with H1B VISA workers from India. The experts will be expected to train the new staff and support the current environment. When the new staff has come up to speed and the systems stable the positions will be moved to India. No word yet if the 4 experts will travel to India after the knowledge transfer is complete.
The work will be performed in Seattle and Minneapolis. No current employee is being considered for positions because of the perceived notion of non-compliance. This is scheduled to take place around May 1st, 2009. The experts have been hired from local US companies.
Hogan is an important application to US Banks. Hogan Core Banking System includes (CIS) Customer Information Systems, (IDS) Integrated Deposits System and (ILS) Integrated Loans System.
No word yet on how Wells Fargo customers feel about the transition of their banking information to an Indian location and firm.
#41 How is confidential information being handled?
I would prefer that the information be located in the United States for security and privacy reasons.
The customers should have a choice to change their accounts and loans, without fees, before this happens.
Did this firm receive Tarp money?
This information would help people getting laidoff in India.
Some forms of income in India are tax-exempt, subject to the conditions specified in Indian law, as follows:
A standard exemption of INR 100,000 on the income of an Indian resident.
Income from a tax - exempt dividend held by the recipient but the company is liable for a dividend distribution tax.
Compensation from an insurance company.
Severance pay in accordance with the provisions of Indian law.
A pension from work.
That part of income from a salary that is for rent, vacation, recreation, education of children and more, subject to the specified ceilings.
A capital gain from transfer of a residential property that has been held for a long term when the proceeds are invested in the purchase of another residential property.
Capital gain from the sale of listed shares held for a long term.
Vale has completed the white collar layoffs, and I am one of them. I would like everyone to know that they are attempting to bust the local 6600 union. I was a Geologist at Vale inco this morning at Creighton mine. So far out of the 65 positions termentated I know of at least 20 Geologists that have been terminated without severance and the payout of 1 week pay for every 1 year worked. It was a sad day watching one by one, my good friends and co-workers being escorted out of the building. From what I have learned for the last 6 months, this is just the tip of the iceburg. Plans for a full shutdown and Non-union staff already have there work schedules for running at a minimal maintinance. I wish all 65 the best of luck finding a job, now that there is a surplus of Geologists in Ontario.
FIRST-QUARTER LAYOFFS: Selection Of Job Cuts By Major Companies
Tuesday 03/24/2009 12:15 PM ET - Dow Jones News
The following chart is a selection of some first-quarter announcements of job cuts since the beginning of the year. Some numbers are estimates.
Company Name Date of Number of Percent
Announcement Jobs Cut Work Force
Hospira Inc. 03/24/2009 1,450 10%
Caterpillar 03/17/2009 24,356 -f N/A
Nokia Corp. 03/17/2009 1,700 1.3%
Baker Hughes Inc. 03/13/2009 3,000 -n 7.5%
Sunoco Inc. 03/13/2009 750 5%
PPG Industries 03/12/2009 2,500 5.6%
Methode Electronics 03/12/2009 850 25%
National Semiconductor 03/11/2009 1,725 26%
Continental AG 03/11/2009 1,120 1%
United Technologies 03/10/2009 11,600 5%
McClatchy Co. 03/09/2009 1,600 15%
Marvell Technology 03/05/2009 850 15%
General Dynamics 03/05/2009 1,200 N/A
Chrysler LLC 03/04/2009 4,200 -m N/A
IMI PLC 03/04/2009 2,250 15%
Monaco Coach Corp. 03/02/2009 2,000 93%
HSBC 03/02/2009 6,100 1.9%
GKN 02/26/2009 2,400 N/A
RSA Insurance 02/26/2009 1,200 6%
Nortel Networks 02/25/2009 3,200 10%
Advantest Corp. 02/25/2009 1,200 25%
Lonmin PLC 02/24/2009 5,500 18%
Spansion Inc. 02/23/2009 3,000 35%
Micron Technology Inc. 02/23/2009 2,000 8.8%
Anglo American 02/20/2009 19,000 11%
Embraer 02/19/2009 4,300 20%
Avon Products 02/19/2009 2,500-3,000 N/A
Goodyear Tire 02/18/2009 5,000 7%
Rockwood Holdings 02/18/2009 900 9%
General Motors Corp. 02/17/2009 47,000 18.7%
Smithfield Foods 02/17/2009 1,800 3.4%
Wal-Mart Stores 02/13/2009 1,100-1,200 -k N/A
Pioneer Corp. 02/12/2009 10,000 -l 16% -l
ArcelorMittal 02/11/2009 9,000 3%
General Motors 02/10/2009 10,000 14% -g
Unisys 02/10/2009 1,300 N/A
UBS 02/10/2009 2,000 2.6%
FedEx Corp. 02/09/2209 900 2.6% -j
Anglo Platinum 02/09/2009 10,000 13%
Nissan Motor 02/08/2009 20,000 8%
International Rectifier 02/05/2009 850 18%
Power-One Inc. 02/05/2009 1,000 22%
Bombardier 02/05/2009 1,360 4.5%
Estee Lauder 02/05/2009 2,000 6%
Time Warner Cable 02/04/2009 1,250 3%
Harman International 02/04/2009 1,110 9.4%
Panasonic 02/04/2009 15,000 5%
Electronic Arts Inc. 02/03/2009 1,100 11%
PNC Financial Services 02/03/2009 5,800 10%
SAS 02/03/2009 3,000 13% -h
Atlas Copco 02/02/2009 3,000 9%
Macy’s 02/02/2009 7,000 4%
NEC 01/30/2009 20,000 7%
Hitachi 01/30/2009 7,000 2%
American Axle 01/30/2009 3,000 N/A
Chartered Semiconductor 01/29/2009 600 8%
Charles Schwab Corp. 01/29/2009 500-600 3.7%-4.5%
Black & Decker 01/29/2009 1,200 5%
Bon-Ton Stores Inc. 01/29/2009 1,150 3%
Eastman Kodak 01/29/2009 4,500 18%
AstraZeneca 01/29/2009 7,400 11%
Ford Motor Credit 01/28/2009 1,200 20%
Boeing Co. 01/28/2009 10,000 6% -d
Allstate Corp. 01/28/2009 1,000 -e 2.6%
Jabil Circuit 01/28/2009 3,000 4.9%
AOL 01/28/2009 700 10%
Starbucks 01/28/2009 6,700 4%
SAP 01/28/2009 3,000 6%
STMicroelectronics 01/28/2009 4,500 9%
Avery Dennison 01/27/2009 N/A 10%
Corning 01/27/2009 3,500 13%
Cooper Industries 01/27/2009 2,200 7%
Clariant 01/27/2009 1,000 5%
IBM 01/26/2009 2,800 0.7%
Texas Instruments 01/26/2009 3,400 12%
Home Depot 01/26/2009 7,000 2%
Sprint Nextel 01/26/2009 8,000 13%
Pfizer 01/26/2009 8,300 10%
ING 01/26/2009 7,000 5%
Philips Electronics 01/26/2009 6,000 5%
Corus 01/26/2009 3,500 10%
Harley-Davidson 01/23/2009 1,100 11%
Microsoft 01/22/2009 5,000 5%
Huntsman 01/22/2009 1,175 9%
Intel 01/21/2009 6,000 -c 7%
UAL 01/21/2009 1,000 2%
Eaton 01/20/2009 5,200 6%
Bose 01/20/2009 1,000 10%
Rohm & Haas 01/20/2009 900 5.7%
Clear Channel 01/20/2009 1,850 9%
ConocoPhillips 01/16/2009 1,300 4%
Circuit City 01/16/2009 34,000 100% -a
Pfizer 01/16/2009 3,200 -b 3%
AMD 01/16/2009 1,100 9%
Hertz Global Holdings 01/16/2009 4,000 13%
Wellpoint 01/16/2009 1,500 3.6%
Saks 01/15/2009 1,100 9%
MeadWestvaco 01/15/2009 2,000 10%
Autodesk 01/15/2009 750 10%
Motorola 01/14/2009 4,000 6%
Barclays 01/14/2009 2,100 1.3%
Seagate Technology 01/12/2009 800 10%
Cessna 01/12/2009 2,000 N/A
Walgreen 01/08/2009 1,000 9% -i
Lenovo Group 01/08/2009 2,500 11%
EMC 01/07/2009 2,400 7%
Alcoa 01/06/2009 15,000 14.5%
Cigna 01/05/2009 1,100 4%
a. Company in liquidation
b. Includes announcements of 2,400 cuts on Jan. 16 and 800 layoffs on Jan.
13.
c. Number of employees affected by plant closures, not all will lose jobs
d. Includes Jan. 9 announcement of 4,500 layoffs from commercial-airplane staff
e. Reductions to come over the next two years
f. Includes 20,000 job cuts announced Jan. 26; 2,110 announced Jan. 30; and 2,246 announced March 17.
g. 14% of salaried work force.
h. The work force will be reduced by another 5,600 staff as divisions are divested or outsourced.
i. The percentage represents cuts made to eligible corporate positions and certain field-management positions
j. Percentage of work force reduced at FedEx Freight unit.
k. Cuts include corporate headquarters staff reduction announced Feb. 10 and Georgia return center staff announced Feb 13.
l. Cutting 6,000 permanent jobs, or 16% of global work force, plus 4,000 temporary jobs.
m. Cuts include the 3,000 made Feb. 17 and 1,200 employees put on indefinite layoff at a Canadian plant on 3/4/2009.
n. Cuts include 1,500 layoffs announced Jan. 27.
Copyright (c) 2009 Dow Jones & Company, Inc.
Texas Instruments CEO and other corporate chiefs get big bonuses despite weak results
http://economywatchblog.dallasnews.com/archives/2009/03/texas-instruments-ceo-and-othe.html
The company, on 19th March 2009, has announced the activation of the Layoff procedure for 19 engineers of the three Italian offices :
- 10 engineers on Vimercate office.
- 2 engineers on Pavia office.
- 7 engineers on Genova office.
The current number of engineers involved in design activities is 66.
The effetct of this decision will be the lost of about 30% of Accent design capability/competence, with a big impact for the current projects and the company know-how.
Even if 2008 registered the best result in Accent history, with revenues over 18MEuro, the company announced the need to reduce the labour cost immediately due to the economic world crisis and the difficulties foreseen in Q2/Q3 2009 .
However this situation seems to be in conflict with the opening of the new office in Shanghai few months ago.
The workers offered a different solution to save their colleagues: a salary reduction with a proportional decreasing of the number of working hours, according with the Italian laws.
Unfortunately the Accent management doesn’t consider this proposal as a possible solution, in contrast with the decision of other italian high-tech companies. A further table discussion with the management is foreseen on 6th May 2009; we hope that positive news could be announced at the end of that meeting.
http://www.accent-genova.blogspot.com
http://www.accent-soc.com
There was a massive layoff yesterday at the Covance Vienna campus. 90 people were let go and 20 were reassigned to other jobs without a choice. Those 90 included folks with 15 - 20 + yrs with the company. They were lured to a mandatory meeting at the local Sheraton Hotel and told they were being laid off. The company even had Fairfax County police posted at the Vienna VA campus in case any of the laid off employees tried to come back to say good bye to surviving coworkers and collect their belongings. Not a single person was laid off out of the Madison WI facility clearly sending a message that the Vienna Campus will most likely be shut down in a matter of time and not transferred to the Prince William VA campus. It is very sad to see that a place such as Vienna VA with roots back to the mid 1900’s get dessimated as it did yesterday. My heart goes out to the people who were laid off, to the surivivors, and to the folks that had to do the layoff. I hope the management team can look at themselves in the mirror and live with where they have driven the company.
I was recently told that I would need to go part-time due to a shift in the business. I am in education which is booming since people are using their layoff time to go back to school. Ten-minutes later, I was reinstated back to full time and because I have an insecure boss, he felt bad to have to look bad in front of me and is making it very hard for me. I will now be working 2 part-time jobs, thanks to the CEO, and will remain full time. I feel sick to my stomach because employers are doing whatever they want to their employees in this economy. I can’t leave because I need the money, but I would love to just quit. I believe that I may have a case because there were other people there that went from part-time to full time doing the same job and I wasn’t aware of those opportunities. Any thoughts?!?
40% of janitors fired at Toyota headquarters in Torrance, CA. Waaaaay higher than industry standard right now…hope this doesn’t become a trend! Their union’s trying to do something about it, but I dunno–it feels like these corporations (like TI) just do whatever they want and use “the economy” as an excuse. Ugh.