Posted by Yogesh on Friday, 14 November, 2008
SAN FRANCISCO: Sun Microsystems Inc says it will cut up to 6,000 of its workers, or 18 percent of its
Jobs Crisis time: Keep staff motivated global staff.
Sun also says its software chief, Rich Green, has resigned.
The company has fallen into a deep slump as sales of its high-end servers have collapsed.
The Santa Clara, Calif.-based company said Friday the job cuts will include between 5,000 and 6,000 employees over the next year.
The company added that it expects to incur total charges in the range of $500 to $600 million over the next twelve months.
It says the cuts will save $700 million to $800 million annually and it expects to begin realizing cost savings in Q3.
Sun says about $375 to $450 million of charges will be incurred within its current fiscal year 2009 and restructuring plan is aimed at reducing costs by about $700 to $800 million anually. Source The Economic Times
Posted in LayOff, Technology | Tagged: Sun Microsystems | Leave a Comment »
Posted by Yogesh on Friday, 14 November, 2008
NEW DELHI: The inflation rate fell sharply to a near six-month low of 8.98% for the week ended November 1, a drop of almost 4% from its August peak.
The financial markets feel that the softening inflation will enable RBI to cut repo and reverse repo rates to create more liquidity in a slowing economy. This is the biggest decline in inflation in the past 18 years.
The decline, helped by a steep drop in prices of some petroleum products and metals, will provide a welcome relief to the central government reeling under a raft of bad news on the economic front from falling exports and a drop in tax collections. Politically, this could help the government ahead of key state elections later this month. Read the rest of this entry »
Posted in Indian Economy | Leave a Comment »
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