Hasta La Gadget!

Looks like May’s Hewlett-Packard layoff numbers were about 2,000 short of reality, as the American hardware company adjusted its previous 27,000 estimate to 29,000 in a recent SEC 10-K filing spotted by ZDNet. Those employees represent approximately eight percent of HP’s entire workforce, and the restructuring saves the company $3 to $3.5 billion per year — money it badly needs following last quarter’s losses. HP says that 3,800 employees were affected as of July 31, 2012 — just over 13 percent of the restructuring total. It’s unclear how many more will be affected by year’s end, if any.

Filed under: Desktops, Laptops, Software

HP adds another 2,000 to the chopping block, cutting 29,000 jobs by 2014 originally appeared on Engadget on Mon, 10 Sep 2012 12:41:00 EDT. Please see our terms for use of feeds.

Permalink ZDNet  |  SEC  | Email this | Comments

It’s always a sad day when news come in of hard-working folks losing their cherished jobs — and, unfortunately, today’s one of those dismal days. In a detailed press release, Lexmark’s let it be known it’ll be be undergoing a company-wide restructure, but with the main focus being the exiting of the outfit’s inkjet hardware development and manufacturing — which, in the end, should save the printer maker about $95 million per year once the plan has taken place. Naturally, this doesn’t come without any repercussions, as Lexmark’s announced these restructuring actions will see around 1,700 worldwide jobs be lost; 1,100 of which are manufacturing positions, and also include the closing of an inkjet supplies manufacturing plant in the Philippines. Needless to say, we can only hope Lexmark sees better days. For now, however, you can peruse over the company’s official word in the presser located right past the break.

Continue reading Lexmark announces detailed restructuring plan: 1,700 layoffs, inkjet business to be nixed

Filed under: Misc, Peripherals

Lexmark announces detailed restructuring plan: 1,700 layoffs, inkjet business to be nixed originally appeared on Engadget on Tue, 28 Aug 2012 15:52:00 EDT. Please see our terms for use of feeds.

Permalink   |  Lexmark  | Email this | Comments

It’s being reported that Sony is closing Optiarc Inc., its company subsidiary that manufactures optical disc drives for PCs. Officials are quoted as saying that “fierce competition” forced prices down, causing the business to operate at a loss despite controlling roughly 15 percent of the market. Operations will be wound up by March of next year, with around 400 employees being offered early retirement and others being moved to other parts of the business. Don’t worry about the future of your Blu-Ray and DVD player just yet though — the company will continue to manufacture both as part of its Device Solutions Division.

Filed under: Desktops, Laptops

Sony getting out of PC optical drive business due to ‘fierce competition’ originally appeared on Engadget on Mon, 27 Aug 2012 05:51:00 EDT. Please see our terms for use of feeds.

Permalink AV Watch (Translated)  |  Japan Times, Asahi Shimbun  | Email this | Comments

OnLive has finally issued an official statement after rumors of mass layoffs first leaked out earlier today, confirming that its assets have been acquired into a newly-formed company with what it claims is “substantial” financial backing. The big news for users is that the OnLive Game and Desktop services will remain operational and continue to be supported. The release also claims a “large percentage” of OnLive staff is being hired into the new company with plans to hire more over time, while PR informs us the leadership team remains intact. Check the words straight from the source after the break.

We’ve heard from some of the people present for the meeting where the new plan was revealed today, confirming the company is going through a process known as Assignment for the Benefit of Creditors (ABC). A faster alternative to bankruptcy that doesn’t involve the courts, it allows OnLive to deal with some of the issues it was facing, most notably an oversupply of servers for the number of users it had signed up. The ABC process allows OnLive to be unshackled from the expensive server contracts and bring in a new source of venture capital. Oh and that other major cost, the employees? Not all of the information is known yet, but beyond the loss of jobs, it turns out the stock they owned was in a company that no longer exists. We’re hearing their benefits will end after August, however there are offers of contracts to answer questions about important topics like “where things are,” in exchange for special form stock in the new venture.

Update: Joystiq has more information from a former employee, who estimated the average number of peak concurrent OnLive users at around 1,800 or so, and the amount of retained staff in the range of 20 percent. One other tidbit? The source expects OnLive to go after recent Sony acquisition Gaikai for infringement of a game streaming patent, so stay tuned.

Continue reading OnLive hits reset after being dragged down by expensive servers, confirms service will continue

Filed under: Gaming, Internet

OnLive hits reset after being dragged down by expensive servers, confirms service will continue originally appeared on Engadget on Fri, 17 Aug 2012 20:06:00 EDT. Please see our terms for use of feeds.

Permalink   |   | Email this | Comments

You know all those lawsuits swirling about in the tech industry? Yeah… Qualcomm is looking to avoid some of the weighty implications of courtroom battles with an air gap strategy that will restructure its R&D division into a new, wholly owned subsidiary known as Qualcomm Technologies, Inc. (QTI). While the parent company will retain the company’s existing patent portfolio, QTI will be responsible for product development and the existing semiconductor business. Interestingly enough, it’s also said that the subsidiary will ramp up its use of open source software, and it’ll strive to avoid the patents of parent company, Qualcomm. It’s also said that the restructuring will help the business bring its products to market more quickly, and if the company is able to avoid just one lawsuit / injunction, it may be very correct with that assertion.

Continue reading Qualcomm restructures itself for summer, R&D division becomes wholly owned subsidiary

Qualcomm restructures itself for summer, R&D division becomes wholly owned subsidiary originally appeared on Engadget on Thu, 28 Jun 2012 21:47:00 EDT. Please see our terms for use of feeds.

Permalink Reuters, Yahoo! Finance  |  Qualcomm  | Email this | Comments