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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Chispas who wrote (21383)1/14/2005 4:20:11 PM
From: mishedlo  Read Replies (1) of 116555
 
Seattle Post-Intelligencer - Jan 14 12:22 AM
The Seattle Times plans to cut 90 to 110 positions, or about 7 percent of its full-time work force, as part of an effort to shore up its finances and return the newspaper to profitability.

Lightbridge To Close A Call Center, Cut 40 Jobs
BURLINGTON, Mass. (Dow Jones)--Lightbridge Inc. (LTBG) will close its Broomfield, Colo., call center on Jan. 28, resulting in 40 job cuts. The job cuts represent about 8% of its total call center work force.

Enterasys Networks To Cut 115 Jobs; Sees 4Q, 1Q Chgs
ANDOVER, Mass. (Dow Jones)--Enterasys Networks Inc. (ETS) plans to cut about 115 jobs during the fiscal second quarter as part of a continued cost-cutting strategy to accelerate profitability.

San Francisco budget cuts to put 115 people out of work today
KESQ - Jan 14 5:44 AM
SAN FRANCISCO Today is the last day on the job for more than 100 city workers in San Francisco. Budget cuts going into effect today will result in layoffs in almost every city department, with 115 city employees being put out of work.

Oracle to PeopleSoft: The pink slip's in the mail
Published: January 14, 2005, 7:46 AM PST
By Alorie Gilbert
Staff Writer, CNET News.com
update Oracle appears to be adding insult to injury in its merger with PeopleSoft--taking the unusual step of notifying workers of their termination by sending pinks slips via express mail to their homes.

As earlier reported, shipments to thousands of PeopleSoft employees across the country are expected over the weekend, according to sources close to the company. Those spared pink slips will get packages too--containing new Oracle employment contracts.

That makes it a nail-biting weekend for many PeopleSoft employees, who number more than 11,000 worldwide. Oracle may cut as many as 6,000 jobs, according to its own earlier estimates. It plans to announce the official number Friday.

"The view of most of the employees out there is that it's a really callous way to do it," said Joe Davis, chief executive of Coremetrics and a former group vice president at PeopleSoft, who stays in touch with his former co-workers.

"They view it as just another in a series of steps where they feel like they're not being treated in a very humane way," Davis said.

An Oracle representative did not return repeated calls for comment.
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