L.M Ericsson Telephone Company unexpectedly announced on Tuesday that it is laying off almost 1,000 employees in its native Sweden due to a 74% drop in net profits one quarter back. Ericsson is reportedly closing operations in the town of…
Microsoft has allegedly sent out a notice to former employees (those who were recently laid off) to come back so they can pour a little bit of salt in their wounds. Apparently, human resources in Redmond made a little oopsie…
Despite solid Q4 2008 earnings, Verizon Wireless is apparently not layoff-proof in this struggling economy but then no company is. Rumor has it that Verizon is in the process of an unannounced work force reduction that began yesterday, February 9th.…
Sprint Nextel announced a plan today to reduce internal and external labor costs by $1.2 billion by eliminating 8,000 positions within the company. The layoffs are expected to be completed by March 31st and will effect all levels of the…
Best Buy reported on Tuesday its earnings for Q3 2008 which, despite a strong Black Friday showing, were abysmal. Best Buy pulled in a meager $52 million in earnings or 13 cents per share which is a 77% drop from…
