Hasta La Gadget!

Missing your earnings target by five cents a share wouldn’t trouble most companies — but IBM isn’t like most companies. That’s why it’s reportedly implementing a billion-dollar restructuring program that’ll see up to 8,000 jobs being lost from the firm. The Alliance@IBM union is reporting that over 1,600 jobs in the US have already been cut, including 165 from chip research and 121 from storage development. Given that the company is also working out ways of making supercomputer Watson pay its own way, it seems that no-one’s immune to a spot of belt-tightening.

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Via: Bloomberg

Source: Endicott Alliance @ IBM

Texas Instruments signaled its intentions to back away from the volatile mobile market as the summer came to a close. Unfortunately, we’re now learning that the shift comes at a price — as part of a wider set of cost-cutting measures, TI is shedding roughly 1,700 jobs worldwide. The chip designer hasn’t said how soon the layoffs take effect, but these and the overall budget trimming should lead to savings of about $450 million per year by the end of 2013. That’s not going to be reassuring to those who’ll soon find themselves looking for work, although it may be necessary for TI to survive when the market for off-the-shelf mobile processors is rapidly thinning out.

Continue reading Texas Instruments to cut 1,700 jobs as part of its shift away from mobile

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Texas Instruments to cut 1,700 jobs as part of its shift away from mobile originally appeared on Engadget on Wed, 14 Nov 2012 16:56:00 EDT. Please see our terms for use of feeds.

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Kaz Hirai’s “One Sony” rescue plan was designed to unite the many disparate arms of the conglomerate, shed 10,000 jobs and make cost savings wherever it could. Facilities in Sweden and the UK have already been closed, so now the company is shifting focus to its operations in Japan. Sony will close its Minokamo site, which currently produces camera lenses for DSLRs and smartphones, with production being moved to factories in Kohida and Kisarazu, 840 staff will lose their jobs. The company is also instituting an early retirement program across its various Japanese businesses in order to push the domestic total to 2,000 — which it must do before a self-imposed deadline of March 2013.

Continue reading Sony restructuring in Japan: camera lens plant to close with loss of 2,000 jobs

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Sony restructuring in Japan: camera lens plant to close with loss of 2,000 jobs originally appeared on Engadget on Fri, 19 Oct 2012 04:49:00 EDT. Please see our terms for use of feeds.

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There was little doubt jobs would be on the line after Sharp’s significant Q1 losses, but now it’s official. Following a board meeting today, the company has joined the likes of RIM, Sony and HP, announcing the “voluntary retirement” of around 2,000 staff in Japan before the year’s out. The layoffs are part of a wider, textbook reorganization plan, and are expected to cost a sizeable 27 billion yen (approximately $344 million). Neither figure is set in stone, however, so when everything is finalized we could see more jobs impacted and those costs soar. Whether this puts off potential investment from Hon Hai Precision Industry is unknown, but while Sharp’s TVs get ever bigger, its wallet continues to get thinner.

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Sharp reports 2,000 job cuts in Japan, more changes expected originally appeared on Engadget on Tue, 28 Aug 2012 23:47:00 EDT. Please see our terms for use of feeds.

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The past three months haven’t been the best for Finland’s former world number one. It hasn’t been helped by the three biggest credit agencies lowering the company’s bond rating to “junk,” and the Lumia 900’s violently slashed price. Unfortunately the latest results reveal continuing gloom: the manufacturer made an operating loss of $1.01 billion dollars for the quarter. The company managed to make €7.5 billion in sales ($9.2 billion, down .5 billion since the last quarter), shifting four million Lumia handsets in the process. In fact, the only cause for optimism is that sales of the Lumia range have roughly doubled each quarter.

The number of handsets pushed out the door increased (thanks to the Asha range of budget phones) with the company selling 73 million phones. That said, the company has clearly failed to crack America, selling a paltry 600,000 handsets in the States. The cash pile has also continued to dwindle, with the piggybank currently standing at €4.1 billion ($5.1 billion), down from $6.3 billion in Q1, despite getting a further $250 million in kickbacks from Microsoft. Unsurprisingly, the prediction for the third quarter of the year was similarly dour, summed up rather euphemistically as “difficult.”

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Nokia’s Q2 2012 financials: 4 million Lumias sold, $1.01 billion dollar loss originally appeared on Engadget on Thu, 19 Jul 2012 06:01:00 EDT. Please see our terms for use of feeds.

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