Missing your earnings target by five cents a share wouldn't trouble most companies -- but IBM isn't like most companies. That's why it's reportedly implementing a billion-dollar restructuring program that'll see up to 8,000 jobs being lost from the firm. The Alliance@IBM union is reporting that over 1,600 jobs in the US have already been cut, including 165 from chip research and 121 from storage development. Given that the company is also working out ways of making supercomputer Watson pay its own way, it seems that no-one's immune to a spot of belt-tightening.
Filed under: Misc
Via: Bloomberg
Source: Endicott Alliance @ IBM
Kaz Hirai's "One Sony" rescue plan was designed to unite the many disparate arms of the conglomerate, shed 10,000 jobs and make cost savings wherever it could. Facilities in Sweden and the UK have already been closed, so now the company is shifting focus to its operations in Japan. Sony will close its Minokamo site, which currently produces camera lenses for DSLRs and smartphones, with production being moved to factories in Kohida and Kisarazu, 840 staff will lose their jobs. The company is also instituting an early retirement program across its various Japanese businesses in order to push the domestic total to 2,000 -- which it must do before a self-imposed deadline of March 2013.
Continue reading Sony restructuring in Japan: camera lens plant to close with loss of 2,000 jobs
Filed under: Cellphones, Cameras, Sony
Sony restructuring in Japan: camera lens plant to close with loss of 2,000 jobs originally appeared on Engadget on Fri, 19 Oct 2012 04:49:00 EDT. Please see our terms for use of feeds.
Permalink
The Next Web | | Email this | Comments 
AllThingsD and CNET are reporting that 30 percent of AMD's workforce could be laid off, though one of several unnamed sources notes the cuts could be as low as 10 percent. If these reports hold true, this would be the second round of layoffs for AMD within a year's time. The reductions will reportedly affect the firm's engineering and sales employees, and may be serious enough to cause a paring back of product lines. The silicon giant could potentially reveal its plans as early as next week, which would coincide with the announcement of its third quarter financial results. With the company expecting a ten percent revenue drop in Q3, it looks like the latest figures will continue the trend of less than ideal results.
Filed under: Desktops, Gaming, Laptops, AMD
AMD could slash up to 30 percent of its workforce according to reports originally appeared on Engadget on Fri, 12 Oct 2012 20:20:00 EDT. Please see our terms for use of feeds.
Permalink |
AllThingsD, CNET | Email this | Comments 
There was little doubt jobs would be on the line after Sharp's significant Q1 losses, but now it's official. Following a board meeting today, the company has joined the likes of RIM, Sony and HP, announcing the "voluntary retirement" of around 2,000 staff in Japan before the year's out. The layoffs are part of a wider, textbook reorganization plan, and are expected to cost a sizeable 27 billion yen (approximately $344 million). Neither figure is set in stone, however, so when everything is finalized we could see more jobs impacted and those costs soar. Whether this puts off potential investment from Hon Hai Precision Industry is unknown, but while Sharp's TVs get ever bigger, its wallet continues to get thinner.
Filed under: Misc
Sharp reports 2,000 job cuts in Japan, more changes expected originally appeared on Engadget on Tue, 28 Aug 2012 23:47:00 EDT. Please see our terms for use of feeds.
PermalinkAV Watch | Sharp | Email this | Comments 
Sony's slow and painful transformation continues with a restructuring of its newly-minted mobile division. In October, it's moving its headquarters from Lund, Sweden (presumably a holdover from its Ericsson days) to Tokyo -- for deeper integration -- and repurposing the duties of its facilities in Tokyo, Lund and Beijing. As part of the changes, Sony Mobile will slash 15 percent of its workforce, with 1,000 employees being let go by the end of March 2014, in a trend we've seen across the industry. Most of those affected are in Sweden, with 650 on-site staffers and up to 450 consultants being shown the door.
Continue reading Sony Mobile moving HQ to Tokyo, cutting 1,000 jobs in Sweden
Filed under: Cellphones
Sony Mobile moving HQ to Tokyo, cutting 1,000 jobs in Sweden originally appeared on Engadget on Thu, 23 Aug 2012 03:51:00 EDT. Please see our terms for use of feeds.
Permalink | | Email this | Comments 
The past three months haven't been the best for Finland's former world number one. It hasn't been helped by the three biggest credit agencies lowering the company's bond rating to "junk," and the Lumia 900's violently slashed price. Unfortunately the latest results reveal continuing gloom: the manufacturer made an operating loss of $1.01 billion dollars for the quarter. The company managed to make €7.5 billion in sales ($9.2 billion, down .5 billion since the last quarter), shifting four million Lumia handsets in the process. In fact, the only cause for optimism is that sales of the Lumia range have roughly doubled each quarter.
The number of handsets pushed out the door increased (thanks to the Asha range of budget phones) with the company selling 73 million phones. That said, the company has clearly failed to crack America, selling a paltry 600,000 handsets in the States. The cash pile has also continued to dwindle, with the piggybank currently standing at €4.1 billion ($5.1 billion), down from $6.3 billion in Q1, despite getting a further $250 million in kickbacks from Microsoft. Unsurprisingly, the prediction for the third quarter of the year was similarly dour, summed up rather euphemistically as "difficult."
Filed under: Cellphones
Nokia's Q2 2012 financials: 4 million Lumias sold, $1.01 billion dollar loss originally appeared on Engadget on Thu, 19 Jul 2012 06:01:00 EDT. Please see our terms for use of feeds.
Permalink |Nokia (PDF) | Email this | Comments 
The last quarter has been about as rough as they come for RIM, and it's now detailed just how things stacked up in terms of hard numbers. For the first quarter of its 2013 fiscal year, the company brought in $2.8 billion in revenue, down a full 33 percent from the prior quarter, while it reported a net loss of $518 million -- much worse than analysts were expecting. What's more, it's also announced that it's cutting an additional 5,000 jobs as part of its ongoing restructuring efforts, and that the first BlackBerry 10 smartphones now won't launch until sometime in the first quarter of the 2013 calendar year (that includes a QWERTY model launched in "close proximity" to the touchscreen-only device). As for why, RIM only went as far as to say that the integration of some key BlackBerry 10 features and the "associated large volume of code" has "proven to be more time consuming than anticipated." For his part, though, CEO Thorsten Heins says he remains "confident that the first BlackBerry 10 smartphones will provide a ground-breaking next generation smartphone user experience," and that he's "encouraged by the traction that the BlackBerry 10 platform is gaining with application developers and content partners." He further notes that the response to BB10 from key carrier partners has "been very positive."
In terms of its existing devices, RIM reports that BlackBerry smartphone shipments (not sales) for the quarter totaled 7.8 million, while there were about 260,000 PlayBooks shipped -- on the company's earnings call, Heins noted that the total BlackBerry subscriber base now stands at 78 million. Not surprisingly, the company is warning of more bad news to come. It says it expects the "next several quarters to continue to be very challenging," with everything from the "increasing competitive environment," lower handset volumes, impact from the BlackBerry 10 delay, and the company's plans to "continue to aggressively drive sales of BlackBerry 7 handheld devices" expected to cut into its bottom line. In another bit of news, the company also announced that it has appointed Steve Zipperstein, Verizon's former General Counsel, as its new Chief Legal Officer. You can find the full earnings report at the source link below.
RIM announces Q1 earnings: $518 million net loss, 5,000 job cuts, BB10 not due until Q1 2013 originally appeared on Engadget on Thu, 28 Jun 2012 16:25:00 EDT. Please see our terms for use of feeds.
Permalink |MarketWatch, RIM [PDF] | Email this | Comments 
RIM's current chief Thorsten Heins has had to make some tough decisions in the first few months of his tenure -- and he could be making some particularly difficult choices about trimming the rank and file within the next two weeks. Assuming we take the claims of several contacts for Canada's The Globe and Mail at face value, "at least" 2,000 jobs are being cut on or before June 1st. The numbers could climb higher at that: Reuters is bracing for as many as 6,000 layoffs, and has described an unhappy routine of "Goodbye Thursdays" where more recent hires are let go. RIM has turned down comment on what it calls "rumors and speculation," and we'd hope for the sake of those possibly affected that it's not true. Having said this, it's hard not to imagine Heins wanting to streamline the BlackBerry maker as much as possible to adapt to shrinking market share and keep the company afloat until BlackBerry 10 potentially spurs a revival.
RIM may cut 2,000-plus jobs within two weeks originally appeared on Engadget on Sat, 26 May 2012 13:41:00 EDT. Please see our terms for use of feeds.
PermalinkReuters | The Globe and Mail | Email this | Comments