Ericsson to axe 1500 employees

January 26, 2010 · Filed Under News · Comment

Wireless equipment maker LM Ericsson AB announced on Monday the company’s plans to reduce another 1,500 employees this year after reporting a colossal 92 per cent drop in fourth-quarter profits as mobile operators slashed spending.

Ericsson reported that the company’s net profit in the October-December quarter was USD 43.4 million (314 million kronor). This was down from 3.9 billion kronor in the same quarter one year back. On the other hand the yearly profits dropped 67 per cent to USD 512 million, or 3.7 billion kronor.

For Ericsson, the quarterly sales were down by as much as 13 per cent to USD 8.1 million or 58.3 billion kronor as compared to the figures a year earlier. The sales for 2009 dropped by a per cent USD 28.6 million or 206.5 billion kronor from 208.9 billion kronor.

Tags: Ericsson, job, lay-off

Nokia to cut 220 R&D jobs

November 24, 2009 · Filed Under News · Comment

Nokia, the world’s largest mobile phone maker, announced on Tuesday that the company is planning to slash around 220 jobs in Japan as part of its plans to streamline its vast research and development operations.

in a statement released on Tuesday, the Finland based company said, “As part of its global efforts to align its research and development (R&D) operations to be in line with its focused portfolio of future products, Nokia will be reducing its R&D activities in Japan.”

Earlier, Nokia announced last week that about 330 employees at its research and development units in Denmark and Finland would be made redundant. At present, the Finnish company employs about 17,000 people in research and development worldwide.

Tags: jobs, lay-off, Nokia

Google dumps 200

March 28, 2009 · Filed Under News · Comment

Recession has claimed another 200 jobs and this time it’s Google. Search engine giant, Google Inc. is discarding almost 200 staffers. These lay offs are rather the largest round of layoffs, clearly showing how badly has the economic slump in the markets affected even the top shots.

The search giant announced this statement about the job cuts on Thursday. This has affected less than 1 percent of the 20,200 employees of Google. However, this figure is almost insignificant when compared to the no. of job cuts in various other sectors including newspaper, retailing, automobile and financial services industries during the past year.

In an attempt to avoid a further fall of its stock prices and protect its profit margins, Google is executing various cost cutting programmes to trim its expenses.

The search giant has already reduced some employee perquisites, dumped outside contractors and closed services that aren’t paying off.

Google hasn’t seen a slump in its performance even during the bad times of recession, however going by the predictions of various analysts; the Mountain View based company can soon see its first quarterly loss.

Tags: Google, job cut, lay-off, recession