downturn

The spreadsheet of sunshine: Who's hiring (updated)

The story I kicked off in late October, Tech layoffs: The scorecard, is a real bummer. On it, we're tracking the current layoffs in the tech economy. I hate the story, since each line on the sheet stands for real people who have lost jobs.

So I sent a query out to my Twitter followers: Send me good news. That led to this anti-layoff spreadsheet, the one tracking companies that are hiring. I present it here. The list is alphabetical, with most recent entries shaded. Happy hunting, everyone.

Want to add your open positions to this sheet? Fill out this form … Read more

Microsoft job cuts evenly spread

Microsoft spread the 1,400 immediate layoffs broadly across the company's units, according to a source familiar with the cuts.

The software maker announced plans early Thursday to cut up to 5,000 jobs over the next 18 months, with the first round coming right away.

Hardest hit in those initial cuts, according to the source, were Microsoft's Entertainment and Devices unit, followed by the Server and Tools unit and the Microsoft Business Division, which houses Office and Microsoft's Dynamics products.

Microsoft declined to go into detail on its job cuts, though it said in its press … Read more

Recession hits mobile-phone market

The global recession is hitting the handset market hard, as the biggest supplier in the market, Nokia, is seeing its sales plunge.

The Finnish handset maker said Thursday that fourth-quarter sales dropped 19 percent to $16.5 billion compared with the same period a year earlier. And its profit fell about 69 percent.

Nokia had warned investors in November and December that sales volumes were going to be lower than expected, but the magnitude of the decline still came as a big surprise to most investors.

Sales were hit not just at the high end, but also at the low … Read more

Microsoft cutting jobs, but not products

Although Microsoft is cutting jobs, the software maker apparently isn't axing any major products as part of its cost-cutting moves.

On a conference call with analysts Thursday, though, CEO Steve Ballmer defended the company's decision to stick by all of its businesses, even as it looks to cut up to 5,000 jobs.

"I like our portfolio," Ballmer said on the conference call. "The board likes our portfolio," he said, before moving on to the next question.

But should they be so pleased?

Microsoft itself acknowledged on the call that it does not have … Read more

Ballmer's e-mail to employees regarding layoffs

From: Steve Ballmer Sent: Thursday, January 22, 2009 6:07 AM Subject: Realigning Resources and Reducing Costs

In response to the realities of a deteriorating economy, we're taking important steps to realign Microsoft's business. I want to tell you about what we're doing and why.

Today we announced second quarter revenue of $16.6 billion. This number is an increase of just 2 percent compared with the second quarter of last year and it is approximately $900 million below our earlier expectations.

The fact that we are growing at all during the worst recession in two generations … Read more

How much will Google benefit from cost cuts?

Google will report financial results Thursday for the last quarter of 2008, but the crystal-ball set likely will be watching for indications of how much Google's belt-tightening efforts will help the search and advertising giant's future profits.

It's not clear exactly how deeply Google is affected by the recession. The company has been bullish about how its search-ad business is better able to withstand a down economy because advertisers can find out just how well a campaign is faring financially and because cost-conscious buyers might use Google's services more. But the economic malaise has proven a … Read more

PC sales slump to bite even Microsoft

With the PC market tanking along with the rest of the economy, Microsoft is seen as unlikely to be able to live up to the financial forecast it issued in October.

The company is set to release its quarterly earnings after the markets close on Thursday.

In a further sign of just how rough the economy is, Microsoft is also expected to announce shortly its plans for a significant, companywide layoffs. Although Microsoft has cut jobs in a particular unit or location in the past, it has managed to navigate through all past downturns without having to resort to such … Read more

Sony warns of first loss in 14 years

Consumer electronics giant Sony warned Thursday that it will record a $2.9 billion operating loss this year, its first annual loss in 14 years.

The company, which blamed the loss on sliding demand for its products and a stronger yen, said it will detail plans to restructure late Thursday, according to a Reuters report. The warning follows reports Wednesday that Sony plans to close two television factories in Japan and shed 2,000 jobs.

Sony also said it expects to post a net loss of $1.65 billion in the fiscal year ending March 31. In October, the company … Read more

Report: Sony to cut 2,000 jobs, shutter two Japan TV factories

Sony plans to close two television factories and shed 2,000 jobs in its home country of Japan, according to a Bloomberg report Wednesday.

The report says CEO Sir Howard Stringer will make the announcement in a news conference but doesn't say when.

When asked for confirmation of the planned cuts, a Sony representative told CNET News that the company has nothing new to announce.

Now, that can be interpreted many ways, but here's what's likely going on: While Sony may very well close some factories in Japan, it's probably not a new round of cuts, … Read more