Agilent Cuts 2700 Jobs, Restructures Electronic Measurement Business | EMAsiaMag.com

Suzanne Deffree, Managing Editor, Electronic News 28 March 2009

Agilent's President and CEO says business remains "severely depressed" and that he sees "no prospects for a meaningful recovery in the foreseeable future."

Agilent Technologies Inc has announced a 2700 employee layoff and a major restructuring of its electronic measurement business in response to what the company described as the "most severe global downturn" in its history.

http://emasiamag.com/article-5300-agilentcuts2700jobsrestructureselectronicmeasurementbusiness-Asia.html

Nokia Pulls More Than $5 Billion in Business From Contract Manufacturers

30 March 2009

In another blow to the beleaguered electronics contract manufacturing business, Nokia—the world’s largest mobile handset brand—announced that it has stopped using outside contract manufacturers for the assembly of its phones. 

 "This doesn’t help the eroding EMS/ODM industry," Pick continued. "Nokia’s pull-back will shed more than $5 billion in revenue from electronics contract manufacturers. That most means more overcapacity, more headcount reductions and, obviously, more problems." 

http://emasiamag.com/article-5298-nokiapullsmorethan5billioninbusinessfromcontractmanufacturers-Asia.html

Double-digit unemployment looms, OECD tells G8

By Francesca Piscioneri Francesca Piscioneri – 30-Mar-09

ROME (Reuters) – The global economic crisis will hit jobs hard, with unemployment set to reach double digits in many developing and advanced countries, the Organization for Economic Cooperation and Development (OECD) said on Sunday.

"By the end of 2010 the unemployment rate could be approaching double digit figures in all G8 countries with the sole exception of Japan, as well as in the OECD area as a whole," the OECD forecast in a background paper to G8 labor and employment ministers gathering in Rome.

http://news.yahoo.com/s/nm/20090329/bs_nm/us_jobs_oecd_g8

Google cuts 200 sales & marketing staff

Google cuts 200 sales & marketing staff

Mar 27, 2009
By Telecom Asia Staff
telecomasia.net

Google will lay off around 200 sales and marketing staff - the company's third round of job cuts this year.

New York Times plans temporary pay cut, layoffs - Yahoo! Finance

Thursday March 26, 2009, 1:04 pm EDT

NEW YORK (AP) -- The New York Times Co. is cutting pay for most employees by 5 percent for a nine-month period and laying off 100 people.

http://finance.yahoo.com/news/New-York-Times-plans-apf-14755671.html

GM says 7,500 hourly workers decide to leave - Yahoo! Finance

DETROIT (AP) -- About 7,500 General Motors Corp. workers -- roughly 12 percent of the automaker's U.S. hourly work force -- have signed up to take buyout and early retirement incentives to leave the company, GM said Thursday.

http://finance.yahoo.com/news/GM-says-7500-hourly-workers-apf-14755216.html

IBM to cut 5,000 jobs in U.S.

Wed Mar 25, 4:51 pm ET

NEW YORK (Reuters) – IBM will cut about 5,000 jobs in the United States, adding to similarly large cuts in the past few months, sources with knowledge of the matter told Reuters on Wednesday.

HSBC Said to Plan 1,000 Job Cuts, May Close Offices (Update1) - Bloomberg.com

March 25 (Bloomberg) -- HSBC Holdings Plc, Europe’s biggest bank by market value, may cut about 1,000 jobs in the U.K., according to a person familiar with the situation.

http://www.bloomberg.com/apps/news?pid=20601110&sid=anN8DpdIjJBo

Caterpillar lays off 2,454 workers in 3 states: Financial News - Yahoo! Finance

AP
Caterpillar lays off 2,454 workers in 3 states
Tuesday March 17, 11:23 am ET
By Daniel Lovering, AP Manufacturing Writer

PITTSBURGH (AP) -- Caterpillar Inc. announced a fresh round of job cuts Tuesday, laying off more than 2,400 employees at five plants in Illinois, Indiana and Georgia as the heavy equipment maker continues to cut costs amid the global economic downturn.

http://biz.yahoo.com/ap/090317/caterpillar_layoffs.html

Nokia to cut 1,700 jobs in sinking phone market

HELSINKI (Reuters) – Nokia Oyj will slash 1,700 jobs globally over the coming few months because of falling demand, the world's top cellphone maker said on Tuesday.

http://news.yahoo.com/s/nm/20090317/bs_nm/us_nokia

Quote

The remedy for weakness is not brooding over weakness,

but

Thinking of strength

UBS cutting 5,000 management jobs:report

GENEVA (Reuters) – Switzerland's biggest bank UBS (UBSN.VX) plans to cut up to 5,000 senior and management jobs in the next few weeks, Swiss weekly SonntagsZeitung said on Sunday.

http://news.yahoo.com/s/nm/20090315/bs_nm/us_ubs

McClatchy plans to eliminate 1,600 jobs: Financial News - Yahoo! Finance

SACRAMENTO, Calif. (AP) -- Newspaper publisher McClatchy Co. said Monday that it plans to eliminate 1,600 jobs, or 15 percent of its work force, as it contends with declining revenue and a deepening recession.

http://biz.yahoo.com/ap/090309/mcclatchy_job_cuts.html

Quote

Never mind the struggles, the mistakes 

Never mind these failures, these little backslidings 

Hold the ideal a thousand times 

If you fail a thousand times, make an attempt once more 

--Swami Vivekananda

Jobless rate bolts to 8.1 pct., 651,000 jobs lost: Financial News - Yahoo! Finance

AP
Friday March 6, 11:02 am ET
By Jeannine Aversa, AP Economics Writer

Jobless rate jumps to 8.1 percent in Feb., highest since late 1983; employers cut 651,000 jobs

WASHINGTON (AP) -- The nation's unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs amid a deepening recession.

Both figures were worse than analysts expected and the Labor Department's report shows America's workers being clobbered by a wave of layoffs unlikely to ease in the coming months.

"There is no light at the end of the tunnel with these numbers," said Nigel Gault, economist at IHS Global Insight. "Job losses were everywhere and there's no hope for a turnaround any time soon."

February's net job loss came after even deeper payroll reductions in the prior two months, according to revised figures released Friday. The economy lost 681,000 jobs in December and another 655,000 in January.

http://biz.yahoo.com/ap/090306/economy.html

Quote

"People are made to be loved and things are made to be used.

The confusion in the world is because people are being used & things are being loved."

U.S. private sector cuts 697,000 jobs in February

4-Mar-09

NEW YORK (Reuters) – U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services on Wednesday that came in worse than economists' expectations.

ADP said private employers cut 697,000 jobs in February versus a revised 614,000 jobs lost in January. The January job cuts were originally reported at 522,000.

It was the biggest job loss since the report's launch in 2001.

Economists had expected 610,000 private-sector job cuts in February, according to the median of 23 forecasts in a Reuters poll.

http://news.yahoo.com/s/nm/20090304/bs_nm/us_usa_economy_employment_adp

Quote

To handle yourself, use your head.

To handle others use your heart.

HSBC slashes 6,100 U.S. jobs, sets huge share sale

LONDON (Reuters) – HSBC (HSBA.L) ,Europe's biggest bank said it would shut most of its U.S. consumer lending business, cutting 6,100 jobs, but that it was ready for acquisitions in its traditional stronghold of Asia where many banks are pulling out to focus on their core markets.

http://news.yahoo.com/s/nm/20090302/bs_nm/us_hsbc

Lenovo to Cut 450 Jobs in China

 
Lenovo to Cut 450 Jobs in China
26 February 2009
Chinese PC maker Lenovo has announced plans to cut 450 jobs in its global function departments in China and most of the adjustments are expected to be completed before the end of March 2009.

Shortcut to: http://emasiamag.com/article-5157-lenovotocut450jobsinchina-Asia.html

Flash memory company Spansion files for bankruptcy - Yahoo! Finance

Flash memory company Spansion files for bankruptcy in an effort to restructure $625M debt

Sunday March 1, 2009, 7:45 pm EST 

SUNNYVALE, Calif. (AP) -- Struggling flash memory maker Spansion Inc. and its U.S. subsidiaries filed for Chapter 11 bankruptcy protection Sunday, in an effort to restructure $625 million worth of debt as the company continues to explore a possible sale or other alternatives.

The news comes a week after Spansion, one of the world's largest makers of chips used in digital cameras, cell phones and high-definition televisions, said it would slash its global work force by 35 percent, or 3,000 employees.

http://finance.yahoo.com/news/Flash-memory-company-Spansion-apf-14505740.html