Just so you know it isn’t just the younger players dropping jobs like it’s going out of style, it looks like the blue chips are feeling it, too. IBM’s actually not doing too bad, having hired 20,000 over the last year, but that didn’t stop stagnation from creating 2800 redundancies.
Texas Instruments, which does a lot more than make the excellent TI-series calculators, saw its profits drop 95%, from about $1bn last year’s Q4 to $55m this year. That’s harsh, but at least it’s not a loss, like the beleaguered and possibly doomed AMD’s negative $3.1bn bottom line. Still, a 95% loss in profit isn’t good news, and they’ve sacrificed 3400 jobs on the shareholders’ altar.
If this keeps up, the only people left in this country with jobs are going to be bartenders and Spam factory workers.
The title of this article is misleading, it sounds like you are say IBM AND TI are going to lay-off thousands of employees, yet there is nothing written about IBM laying off any employees…I am not saying they didn’t, I don’t know, but the title and the content don’t gel.
IBM is laying off big time. I work there so I know.
I see redundancies is a fancy word for lay-offs….ahhh.
Makes it less dramatic, I suppose.
They use Contractors for half their work force.
I should know. I use to work for them in a section called Bump inspecting wafers for flaws. They hire their contractors through Volt Services and laying off their contractors happens all the time. This is nothing new. Half the workers at the Stafford complex are or were contract employees. When they start laying off their own employes. Then they are hurting.
We all know why companys use contract workers.
Advoid benefits and such.
Glad I do not work for them anymore.