March 8, 2018 - Written By Dominik Bosnjak Snapchat maker Snap is presently in the process of preparing for the largest round of job cuts in its history, Cheddar reported earlier this week, citing sources with knowledge of the matter. The move is understood to be primarily targeting the company’s engineering division which hasn’t experienced any layoffs since the social media firm was established in 2011. Insiders claim Snap is planning to fire under ten-percent of the unit, or approximately 100 software engineers. The move comes following several other rounds of layoffs which started in September, with Snap already cutting its marketing, hardware, and recruiting divisions.The Venice, Los Angeles-based company had over 3,000 employees as of December 31, according to its latest consolidated financial report. Following the initial job cuts, Snap slowed its hirings by approximately 60-percent in the final quarter of 2017 as part of major cost-reducing efforts. The firm lost … [Read more...] about Snapchat Maker Preparing Largest Job Cuts To Date: Report
Bhp job cuts
In what was basically an admission of an inferior network, Sprint’s shiny new CEO, Marcelo Claure, stated in an employee meeting Thursday that he aims to bring disruptive new rate plans to market next week.Mr. Claure presented three points in the company-wide meeting: reduce prices, improve the network, and “optimize Sprint’s cost structure.” The company is “going to change [its] plans to make sure they are simple and attractive and make sure every customer in America thinks twice about signing up to a competitor.”To justify what are said to be “very disruptive” rate plan changes, Mr. Claure pointed out that “when you have a great network, you don’t have to compete on price. When your network is behind, unfortunately you have to compete on value and price.”That means that whatever profit margin exists on Sprint’s mobile service, it’s going to get a lot thinner, and that is where Mr. Claure’s third … [Read more...] about Sprint’s new CEO, Marcelo Claure says price cuts, network fixes, and job cuts are coming
A couple of days ago, a rumor surfaced, claiming that Microsoft is about to announce a large job cut, in line with the final stages of integrating Nokia's mobile division into Microsoft's infrastructure.Sources claimed that the amount of layoffs would surpass 2009's recession-induced 5800 job cuts, but no one thought they would go much above 6 000. Apparently, when CEO Satya Nadella says "change", he means business, as he has today, in an open letter to all Microsoft employees, confirmed that the corporation will be reducing 18 000 jobs in the next year. He respectfully adds that they will go through this process thoughtfully and transparently and will offer severance and job transition help to all employees impacted by these changes.In last week's memo, Nadella spoke about shifting the corporation's focus further to cloud computing and mobile devices. Apparently, this will also call for changes in how Microsoft functions, as in today's letter, the CEO also says that management will be … [Read more...] about Expected Microsoft layoff announcement now official. Final tally = 18 000 job cuts!
For all intents and purposes, the job cuts announced this past week by Microsoft should not have caught anyone by surprise. It is one of the first things to happen following a major merger.The announcements do not say outright, “…and with this merger, we will cut X-number of jobs,” rather, the language is more nuanced, if not less obvious, “…and with the efficiencies to be gained in this deal.”It stands to ask though if the cuts are being made in the right places, however. Of the 18,000-ish jobs to be cut over the next year or so, a full two-thirds of these “efficiencies” (or synergies, harmonization, cost-savings – pick a nom de guerre for layoffs) will impact people who were part of Nokia Devices and Services, which as we all know, was acquired by Microsoft. That accounts for a little more than half of the employees who did a veritable #maketheswitch (from Nokia to Microsoft, see what we did there?).It is times like this, it … [Read more...] about When Microsoft’s job cuts meet Jurassic Park
Qualcomm seemed to be on the path to become the ubiquitous chip maker for smartphones, the Intel of the ARM smartphone world, but then something happened. It’s hard to nail down what disrupted the success of Qualcomm’s Snapdragon chips, but it seems that Apple’s launch of the first 64-bit chips started a transition that has not ended up all that well.Net profits take a deep diveQualcomm has now reported a 47% drop in net profits in the second quarter of 2015 (third fiscal quarter for Qualcomm). The net income of the company now stands at $1.2 billion, a slide from the $2.2 billion it recorded in Q2 2014. Total revenue amounted to $5.8 billion in Q2 2015, down 14% from the $6.9 billion income recorded in the same period last year. Shipments of the MSM series of chips (used mostly in smartphones) were actually flat at 225 million units, but it seems that the company now makes less money from that business.Qualcomm has lost 20% of its market value in the last year, and … [Read more...] about Qualcomm net profits slide 47% in Q2, job cuts coming up