WSJ: Gannett cutting jobs
Wall Street Journal has reported that the news media industry giant Gannett is firing as many as 1000 workers.
The aim is to cut costs as the revenues from advertising is declining rapidly.
Gannett owns the popular newspaper USA Today.
The WSJ report said that most of these job cuts have taken place [...]
Tata Motors posts annual loss
Tata Motors has come out with their latest revenue report and the company has posted their first annual loss in eight years.
The company has also announced more job cuts. Tata is also going to close down some more plants related to Jaguar and Land Rover.
Tata Motors posted a consolidated [...]
MySpace announces a major job cut
Rumours were true. MySpace has announced that they are cutting its staff by 30 percent.
The aim is to cut costs as it struggles to compete with rivals like Facebook and even Twitter.
After this cut, the company would end up with just around 1000 employees. Still a large number [...]
Tech Mahindra: Satyam has excess staff
Tech Mahindra has admitted that Satyam in its current form is overstaffed by around 10,000 workers.
The company is the new parent of the fraud hit Satyam Compute Services.
Mahindra said that they would definitely need to lower the headcount in the company to make it profitable again.
Vineet Nayyar CEO [...]
Nokia to cut 490 more jobs
Mobile phone maker Nokia has announced that they are now going to cut an additional 490 jobs.
This latest round of job cuts are part of their restructuring program aimed to cut costs and save money.
The company said that it would cut 170 jobs in logistics, production management and production [...]
Nike announces a major job cut
Nike has announced that they are now going to cut 5 percent of its 35,000-strong global workforce.
The company said that these job cuts are necessary to remain competitive in this tough economy.
Nike revealed that they have already halted production at three of its Chinese factories.
The job cuts [...]
Microsoft India to cut some jobs
Microsoft has revealed that they would cut around 55 jobs in their Indian operations.
This comes to just around 1% of their total workforce in the Indian market.
These job cuts are part of their global cuts which are aimed to cut costs.
The company had announced earlier this year that [...]
Toshiba posts record losses
Japanese consumer electronics giant Toshiba has posted a record annual loss as the company has been cutting jobs to stay competitive in these tough times.
The company posted a 343.6 billion yen loss for the financial year ending in March this year.
This is a pretty bad performance compared to a profit of [...]
Microsoft cut more jobs in their operations
Software giant Microsoft has announced that they are cutting more than 3,000 jobs in their global operations.
This is the second such job cut announced by the company in the recent times.
Microsoft had earlier announced in January that they were going to cut up to 5,000 jobs over [...]
GM cutting 1,600 more jobs
US based automaker GM has announced that they are going to cut 1,600 more jobs in the coming days.
The company said that these additional job cuts are part of their restructuring process aimed to cut costs and get back to profitability.
GM North America President Troy Clarke had this to [...]
