Shares of Research In Motion (Nasdaq: RIMM) are trading lower this morning following a somewhat bearish article published in this weekend’s edition of Barron’s. While the main point of the article focuses on Wal-Mart’s (NYSE: WMT) recent decision to sell Apple’s (Nasdaq: AAPL) iPhone in its stores, the column has negative overtones for other smartphone makers such as Research In Motion, Palm (Nasdaq: PALM) and Nokia (NYSE: NOK). (StreetInsider)
No CommentsAt least 600,000 jobs could go in the UK in 2009, according to a report by a personnel managers’ professional body.
The Chartered Institute of Personnel and Development says even those who escape redundancy face pay freezes.
It says that while total unemployment will not hit three million, the time between New Year and Easter will be the worst for job losses since 1991. (BBC)
No CommentsThe head of Foxconn Technologies today announced layoffs of up to 5% of its worldwide workforce, citing the economic environment.
Hon Hai chairman Terry Guo said the world’s largest ODM/EMS firm will cut 3 to 5% of its staff, which according to Hon Hai’s website is more than 400,000, but which other sources have pegged at more than 450,000 in China alone. It is unclear whether recently announced cuts of up to 1,500 employees in Hungary are included in Guo’s latest announcement. (PCD&F)
No CommentsUnisys Corp. has begun eliminating 1,300 jobs as part of an initial spate of cost-cutting actions that will reduce its annual expenses by $225 million.
Unisys (NYSE: UIS) also will consolidate offices, stop making matching contributions to its employees’ 401(k) plans, which it said had been costing it $50 million a year, and freeze salaries in most of its markets next year. (BizJournals)
No CommentsSilicon Storage Technology, the Sunnyvale maker of flash memory, said it is in the process of cutting 120 employees, or 17 percent of its staff, according to a filing it made Friday. The action is being taken “to streamline the organization going forward” so as to “to reflect changes in anticipated levels of business.” (SJ Merc News)
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