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The Jobs Axing Report [Page: 2 of 2] (TTID #180)

Author: TACKtech Team   Views: 8,635 /  Created: January 22, 2009
Upcoming 02.12.2009 - Pioneer to exit plasma displays, lay off 10,000 workers
Hit by expectations of further financial losses, Pioneer Corp. has announced 10,000 job cuts, plant closings in the US and UK, and plans to leave the plasma display market.
01.22.2009 - LG posts a big quarterly loss, plans restructuring
South Korean Consumer Electronics maker LG posted a big loss in its fourth quarter 2008 earnings report this morning, and like Samsung last week, the company will restructure its business.
01.22.2009 - Seagate suffers $496M loss, admits to HDD 'execution' problems
Returning to his old job, Seagate CEO Stephen Luzco reported worse than expected financial results last night, adding that job layoffs, salary cuts, and building closings announced last week will save the storage specialist $300 million.
01.22.2009 - IBM confirms job layoffs, won't say how many
Although he wouldn't specify where or how many, an IBM spokesperson today confirmed to Betanews that IBM is sending out pink slips this week. An IBM employee union known as Alliance@IBM is predicting 16,000 job cuts.
01.22.2009 - Nokia profits drop 69% in Q4
The company's 69% drop in Q4 net profits surprised analysts, and the company also took the earnings call opportunity to warn that contingent that sales in 2009 were apt to decline more than previously predicted. The company now says that worldwide sales in '09 are likely to be down 10% year-to-year, rather than the previously predicted 5%; as CEO Olli-Pekka Kallasvuo put it, "the macro environment is challenging and, we believe, will remain so in 2009."
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