Microsoft to layoff 5,000 employees

Apple computers came up with good earnings yesterday. On the contrary, Microsoft corporation missed 2Q profit today. It reported 11% drop in 2nd quarter profit. Microsoft shares plunged 7% and are trading at $17.92. To make up for lost profit, Microsoft is going to terminate 5,000 employees over the next 18 months. Microsoft will terminate 1,400 employees today. Microsoft said it was being hurt by deteriorating global economic conditions and lower revenue from software for PCs. The holiday quarter of 2008 was the worst the PC market had seen in several years. Microsoft said that profit slipped to $4.17 billion,…

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Google Layoffs

Google laid off more employees last week. It let go 3000 contract employees and 300 full time employees. Analysts expect more layoffs to come from Google in the future. The company also closed two regional offices in Michigan and Colorado. When the employees are terminated ruthlessly, executive managers take big money home even when they are terminated. Ebay’s senior executives received 4 years (years, not months) of pay when they were terminated. Well, I guess this is just the way it is. Related Links: Google Layoffs | Ebay Layoffs

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Layoffs are coming…

Many Indian companies started laying off people in a low-profile way. No press releases and no media reports. These companies silently let people go. This trend will continue at least for another 6 months until U.S. stabilizes itself both politically and economically. Hexaware eliminated 300 positions recently. TCS, IBM and similar companies let go many people citing poor performance. Companies can’t keep poor performers especially in poor economic environments. Situation in U.S. is deteriorating even more. Some companies convert full time positions to part-time positions. The number of people, whom the U.S. government classifies as working part time involuntarily swelled…

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Layoffs in India

It’s generally unheard of in India. In a sign of market changes, Indian companies also started terminating poor performers. TCS terminated 500 staffs recently. IBM dismissed 700 freshers. It’s the side effect of hurried-up hiring processes employed throughout IT industry. I personally have the problem of recruiting good people. There are so many freshers out there, but it’s very hard to recruit the right person that has passion for the work.

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Senator wants U.S. companies to fire foreign workers first

Senator Chuck Grassley wrote a letter to Microsoft, urging them to make efforts to retain qualified American workers during its recently announced lay-offs. Noting that last year, Microsoft had advocated for more H-1B visas in the US Congress, the senator said the purpose of the H-1B programme for professionals in “specialty occupation” is to help companies hire foreign guest workers on a temporary basis when there is not a sufficient qualified American workforce to meet those needs, he said. However, the programme is not intended to replace qualified American workers, Grassley said asking questions of both American and foreign based…

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Dismissed employees kill CEO

I worked in many companies where I saw massive layoffs. I witnessed an incident where one of the terminated employees shot himself in his car. But, dismissed employees killing their CEO is a shocking news especially in a country like India. L. K. Chaudhury, the CEO of Cerlikon-Graziano Transmissions India, the Indian subsidiary of an Italy-based company in Udyog Vihar of Greater Noida, was killed when the agitating workers turned violent and beat him up, Outraged workers became desperate and took their revenge. It’s not going to give them their old job. Instead, they will be given new jobs in…

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