How many people will likely to be unemployed?January 16th, 2009 - 9:40 am ICT by Amrit Rashmisrisethi
Recently, Motorola Inc announced to cut another 4,000 jobs, primarily in its mobile phone business, as it forecast a fourth-quarter loss and weaker-than-expected handset sales. Analysts said the reduced demand for cell phones had hit even before the economic downturn.
Most likely, the company will be cutting he 4,000 job including the cost cutting moves would help it to save an additional US$700 million in 2009, bringing total expense reductions to US$1.5 billion, including a savings plan announced in October.
In October the company had announced a plan to cut 3,000 jobs, mostly from its mobile devices unity.
Motorola shares rose 1 per cent in after-hours trade to US$4.15 after closing at US$4.11.
Now GOOGLE Inc will also be laying off 100 full-time recruiters and close three engineering offices, the latest sign that the weak economy has not spared one of the technology industry’s most resilient companies.
Google had started by terminating contracts with external recruiters, but the worsening economy has necessitated the laying off of full-time workers, Mr Bock said.
‘The number is very small, but what concerns me is that this is the first example of laying off full-time employees in Google’s history,’ said Collins Stewart analyst Sandeep Aggrawal.
Google, which is due to report fiscal fourth-quarter earnings next week, has been hurt by the worsening economy, which has crimped advertising spending. Corporate advertisers are more tightfisted with their dollars, which is stinging Google’s main business, paid online search advertising.
The job cuts come after a series of other cost-cutting moves by Google, whose high-flying stock fell below $300 for the first time in three years in November.
Known for its extravagant holiday parties, Google decided to scale back on end-2008 celebrations, a source told Reuters earlier.
It had earlier cut a number of contract worker jobs, and pulled back some benefits for employees in its New York office cafeteria, in moves designed to save money.
The 100 positions represent less than one-quarter of Google’s total in-house recruiters, spokesman Matthew Furman said.
Google shut its Phoenix, Arizona office in September and relocated most of its engineers to other offices, Mr Eustace said.
- Google to cut 4,000 jobs at Motorola Mobility - Aug 14, 2012
- Motorola Mobility to cut 4,000 jobs - Aug 14, 2012
- Google, Motorola announce job cuts - Microsoft next? - Jan 16, 2009
- Yahoo! to cut another 2,000 jobs in restructuring effort - Apr 04, 2012
- Google receives a staggering 75,000 job applications in one week - Feb 05, 2011
- Chipmaker AMD to cut workforce - Nov 04, 2011
- Yahoo cuts 2,000 jobs - Apr 05, 2012
- US stocks rise amid IMF report, Goldman results - Jan 19, 2012
- Google on hiring spree in China - Jul 31, 2010
- Microsoft reports first loss in 26 years - Jul 20, 2012
- US economy grew faster than thought in fourth quarter - Mar 01, 2012
- Hilaire to quit top WICB job for diplomatic posting - Jul 04, 2012
- US jobless rate holds steady - Jul 07, 2012
- Google buys Motorola Mobility for $12.5 billion - Aug 16, 2011
- European Union economy shrank 4.1 percent in 2009 - Feb 12, 2010
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