Posts tagged “Layoffs”
Swiss financial services giant Credit Suisse is cutting 4,000 jobs. The layoffs were disclosed Thursday after the bank disclosed a massive pre-tax loss for the fourth quarter. Credit Suisse employs some 1,700 people in the Triangle.
Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job. Plus: an interactive graphical view at Yahoo's shrinking headcount and other financial data.
Xerox is separating into two independent publicly traded companies. It operates an outsourcing and call center in Cary where 178 jobs are being cut. The company also reports its 15th consecutive quarter of declining sales. Plus, here's a graphical look at Xerox shares.
Alliance@IBM - the effort to unionize IBMers - is closing down. But a new Facebook page titled "Watching IBM" organized by long-time Big Blue workers Lee Conrad vows to "fulfill the information gathering and dissemination that the Alliance did." Among the first posts: A reiteration of a report that another round of layoffs is about to hit the tech giant.
North Carolina's jobless rate declined to 5.6 percent in December, but that doesn't mean companies aren't cutting jobs. A report this week that Xerox is cutting 178 jobs in Cary in just one of nine layoff reports totaling more than 2,400 jobs as reported to the North Carolina Department of Commerce.
Analysis: Wariness about how the forthcoming Dell-EMC merger will affect VMware and news in Tuesday's earnings call that the storage technology company is cutting hundreds of jobs are short-term headwinds, writes analyst Andrew Smith of Technology Business Research. Why? In an in-depth analysis, Smith explains why TBR believes VMware is "on the right track."
IBM, which has reported a loss in revenue for 15 consecutive quarters, is reportedly gearing up for layoffs this week. The move comes less that a week after Big Blue cut severance pay allowances from as much as six months pay to one month.
Two former technology employees at Walt Disney World in Florida are suing Disney and the outsourcing companies they say colluded to break the law and replace workers with cheaper immigrant labor. HCL, which has a major presence in Cary, and Cognizant, which employs hundreds in N.C., are the two firms named in the suit.
In today's Bulldog wrapup of life science and biotech news: Valenat, which operates Sprout Pharmaceuticals and Salix in Raleigh, has a new CEO; Novozymes and Monsanto move toward first crop product in 2017; and Monsanto plans 1,000 job cuts.
Months ahead of its planned closure in a $67 billion takeover by Dell, data storage technology firm EMC is planning to make layoffs. The news came in a regulatory filing made Thursday. EMC has an estimated 1,400 employees at operations around the Triangle.
A reorganization of Lenovo's smartphone operations in June included the ousting of its top mobile executive. On Thursday, Lenovo went much further:Motorola will take over as the lead on smartphone development but at the same time its Chicago headquarters work force is being gutted by 25 percent. Lenovo is making other cuts, too, but those include 7 percent in the Triangle and 10 percent overall across corporate white collar jobs.
Lenovo, the world's top PC manufacturer and a leader in mobile phone, tablet and server sales, is slashing 3,200 white-collar jobs in a cost-cutting move. The cuts come after the company, which operates its global executive headquarters in Morrisville, says profits plummeted in its most recent quarter amid falling smartphone and struggling PC sales. Most of the cost-cutting talk focuses on Motorola.
As many as 200 former GlaxoSmithKline employees who were transferred to life science services firm Parexel earlier this year are reportedly being laid off today. However, the Boston-based company which has a large presence in the Triangle, isn't talking.
Layoffs have recently hit several large high-tech firms in the Triangle with Qualcomm becoming the latest to announce job cuts on Wednesday. Now a new survey finds optimism among the Triangle's booming startup community is cooling with more firms planning job cuts and less hiring.
Semiconductor chip firm Qualcomm, which has a design lab focused on mobile devices in Raleigh, is cutting 15 percent of its work force. The company also shakes up its board and mulls splitting into two firms.
Parexel, a provider of life science company services such as clinical trial management, is cutting 850 jobs across the company. Parexel, which recently agreed to take on some 450 workers from GlaxoSmithKline where they faced layoffs, would have some 900 Triangle employees assuming all the GSK workers were employed.
Drug giant Merck, one of the largest life science industry employers in the Triangle, cut jobs at its big vaccine manufacturing plant in Durham this week. The cuts are the latest to hit RTP area drug companies.