Layoffs

How the Push of Activist Investors Pressures Tech Jobs

Posted In Looking in Tech
Disappointed Investor
Recent layoffs at Juniper Networks — the company is cutting 6 percent of its workforce — is symptomatic of a growing battle between Wall Street financiers and Silicon Valley tech companies. As more hedge funds, private equity firms and activist investors put their money into the technology space, they’re demanding better financial returns, even from healthy companies. And that often puts technology workers at risk. Hedge funds and private equity firms in particular have reputations as short-term thinkers, ready to… continue…

Should You Take the Buyout?

Posted In Looking in Tech
Money
Many times, companies offer buyouts before they pull the trigger on layoffs, which presents employees with a tough question: Should you take the buyout, get some cash and exit on your own terms, or pass it up and hope you won’t be one of those receiving a pink slip. Unless you’re particularly good at reading tea leaves, it’s hard to know how things will play out. In December, Dell offered buyouts to an undisclosed number of employees under what it… continue…

Disney Interactive Surprises With 700 Layoffs

Temple Run Icon
Disney Interactive laid off roughly 700 people Thursday, about 26 percent of its global workforce, as it moves to bring itself to profitability. While the Walt Disney unit showed revenue of $403 million and operating income of $55 million in the most recent quarter, it’s lost more than $1.3 billion since 2008. The New York Times says the restructuring is “a humbling acknowledgment that, despite the company’s repeated pronouncements that long-term profitability was on the horizon, the unit remains challenged.”… continue…

IBM ‘Workforce Rebalancing’ Includes Plenty of Hiring

Posted In Looking in Tech
Hiring
Despite layoffs that could affect up to 13,000 people, IBM continues to hire at its usual rate. The company has more than 3,000 open jobs. They include nearly 600 positions in software development and support, more than 1,300 IT specialists in areas such as infrastructure, security and middleware, and 44 positions in hardware development and support. It’s looking for 63 database administrators and more than 120 people in server support and services. Big Blue said: IBM is positioning itself to… continue…

IBM Begins Layoffs in the U.S.

Posted In Looking in Tech
IBM Thinkpad
IBM began a new round of domestic layoffs on Thursday, with its $1 billion “workforce rebalancing” effort expected to slash as many as 13,000 jobs worldwide. Cuts are expected to come in New York, Minnesota, Iowa, Missouri, Oklahoma, North Carolina and Vermont. The union Alliance@IBM also reports 3,300 layoffs abroad, including in Brazil, Argentina, France, and Italy. A source told CNET that the cuts include 25 percent of its hardware division — the Systems and Technology group. Big Blue is… continue…

Juniper Eyes Layoffs as Part of Restructuring

Posted In Looking in Tech
Juniper Networks
Juniper Networks is planning to cut $160 million from its operating expenses this year, a move that’s likely to lead to significant layoffs. That was the case back in 2012, when Juniper wanted to slice $150 million from its operating expenses and ultimately cut 5 percent of its workforce, or approximately 500 people. When the company exited 2012, it had 9,234 full-time employees, according to a filing with the Securities and Exchange Commission. The Sunnyvale, Calif., router and switching company… continue…

IBM Strikes Deal With NY to Retain 3,100 Jobs

Posted In Looking in Tech
IBM Logo
IBM and the State of New York Monday cut a deal that would spare 3,100 workers in the Hudson Valley and surrounding areas through the end of 2016, even as the company takes a $1 billion restructuring charge in the first quarter. But employees, posting comments to the IBM union site Alliance@IBM, wonder what will happen with the remaining workforce in the area, which numbers approximately 7,000. Big Blue’s workers have been buffeted by a number of layoffs throughout the… continue…

Bioshock Creator to Close, Some Employees to Join Take-Two

Posted In Looking in Tech
BioShock Cover
Bioshock creator Irrational Games is winding down as co-founder Ken Levine starts a new venture at publisher Take-Two Interactive. The Quincy, Mass.-based company, which had 200 employees less than two years ago, will be sliced down to 15, Joystiq reports without specifying the number to be cut. Going forward, plans are “to make narrative-driven games for the core gamer that are highly replayable. To foster the most direct relationship with our fans possible, we will focus exclusively on content delivered… continue…

Digital Risk to Cut Up to 745 Fla. Workers

Posted In Looking in Tech
Digital Risk Logo
Digital Risk, a Florida-based mortgage risk-analysis software maker, is planning to cut up to 745 full-time positions in the state on April 12, according to the Jacksonville Business Journal. The company cited a sharp decline in refinancing loans as the need to restructure its workforce. Digital Risk isn’t the only financial company cutting back on its staff lately. Bank of America is letting go a number of its technology and operations workers. In the case of Digital Risk, the company… continue…

Layoffs Hit Bank of America’s Tech Unit

Posted In Looking in Tech
Bank of America Logo
Bank of America is laying off a number of its technology and operations workers, many of them in Charlotte, N.C. The company didn’t disclose the number of positions affected, but this is the second round of layoffs to hit the unit in the last two months, according to the Charlotte Observer. The division, of about 100,000 employees, makes up about a third of B of A’s staff throughout the country. “Bank of America remains one of the nation’s leading employers,… continue…