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Archive for May, 2009

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May
14/09
So long Sony
Last Updated on Thursday, 14 May 2009 06:40
Written by admin
Thursday, May 14th, 2009

Sony Corp. reported its first annual net loss in 14 years and forecast a bigger loss this year, saying the pressure from sliding sales, competition in gadget prices and a strong yen was expected to continue.

The Japanese electronics and entertainment company said Thursday it lost 165 billion yen ($1.72 billion) in the January-March quarter, compared to a 29 billion yen profit for the same period the previous year. That brought its full fiscal year loss to a 98.9 billion yen ($1 billion). (AP)

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May
14/09
GM, Chrysler to cut up to 3,000 dealers: sources
Last Updated on Thursday, 14 May 2009 06:39
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Thursday, May 14th, 2009

General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said.

GM, facing a U.S. government-imposed deadline of June 1 to restructure or file for bankruptcy, is expected to send termination notices to up to 2,000 dealers — a third of its roughly 6,000 U.S. dealers, the sources told Reuters. (Reuters)

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May
09/09
Spend a little more time at YourSpace, please
Last Updated on Saturday, 9 May 2009 09:09
Written by admin
Saturday, May 9th, 2009

MySpace has let go of as many as 45 employees in the last week, we’ve confirmed. Sources close to the company say that the exact figure may be smaller, but that MySpace has definitely laid off a significant number of people. MySpace has refused to comment on the matter, so it isn’t clear if this was the result of a canceled project, general layoffs, or performance-based cuts. A source says that early signs indicate that the open positions will not be filled by other employees. (TechCrunch)

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May
07/09
Wells Fargo freezes pension plan, cuts 548 jobs
Last Updated on Thursday, 7 May 2009 08:05
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Thursday, May 7th, 2009

Wells Fargo & Co on Wednesday said it is freezing its cash-balance pension plan for all employees, and has issued layoff notices to 548 workers in uptown Charlotte, North Carolina, the former home of Wachovia Corp.

The moves will reduce costs, spokeswoman Mary Eshet said. Wells Fargo bought Wachovia for $12.5 billion at the end of 2008, and has said it expects about $5 billion of annual cost savings related to the merger, with job cuts beginning this quarter. It has not said how many jobs it plans to cut. (Reuters)

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May
05/09
Microsoft axing 3600
Last Updated on Tuesday, 5 May 2009 08:23
Written by admin
Tuesday, May 5th, 2009

CEO Steve Ballmer’s e-mail to the staff indicated that the company is “mostly” done with its 5,000 job eliminations. Considering that 1,400 people were laid off in January, we can deduce that Microsoft laid off as many as 3,600 people today. (Seattle PI)

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