Tag archive: job cuts

In a bid to save in the region of $1 billion a year, networking and communications giant Cisco has announced plans to cut 9 percent of its workforce. It will also sell a set-top box factory to Taiwan-based Foxconn. The news of the job losses comes several months after Cisco chairman and CEO John Chambers (pictured) spoke of the need for change in order to make the company more competitive. In news posted on its website on Monday, Cisco said… Read More

We knew it was coming. Nokia made it clear that after its new partnership with Microsoft, it would need to eliminate jobs and that this was slated for the end of April. Now it’s upon us, and the despite any warning the cuts will be severe. Now that Microsoft has takem over much of its mobile software production, Nokia’s research and development department will be hardest hit. Antti Rinne, a representative from Finland’s largest private-sector… Read More

Prior to its earnings call, Yahoo confirmed it will be laying off 1 percent of its global staff. In comparison to the recent round of massive staff slashing Yahoo employees have been subjected to, 1 percent is nothing. Still, it isn't a good indication that the company is successfully keep its head above water. It's likely that 100 to 150 jobs will be lost to the cuts. In a statement published by CNBC, Yahoo explained: “The… Read More

Struggling Web services and online advertising operation AOL has revealed in an SEC filing that it plans to cut about 2,500 positions from its total workforce as part of cost-cutting measures related to the company's imminent spinoff from Time Warner. The job cuts will amount to about one third of the company's total employee base; according to AOL, the cuts should cost the company about $200 million in severance and restructuring… Read More