- Introduction to Investment, Credit and Personal Finance for Us Regular Joes
So the Microdoft layoff rumors did turn out to be true. It was 5,000 layoffs instead of 15,000 but still a large number.
Intel is also laying off 6,000 and closing factories, Ericsson is laying off 5000 and AMD 1100
Google results were the only good thing to come out in recent days.
Google announced on Wednesday that it will not renew any contracts and will also layoff 100 HR folk because it is slowing down recruiting.
Google, in a separate announcement, also said that it will close offices in Austin, Texas; Trondheim, Norway; and Lulea, Sweden.
The internet is abuzz with rumors that Microsoft is laying off 15,000 employees for the last couple of days. Microsoft’s unofficial word is that the rumors are “grossly exaggerated” and that it only plans to cut employees through attrition and non-renewal of contracts. Microsoft’s official word is that they “do not comment on rumors and speculation”
But we’ll wait and watch. I’ve heard official word from Wachovia too 5 days before it’s collapse leaving shareholders to bite the dust. Now not only can we not trust analysts, we can’t trust anything companies say too.
IBM layoff rumors are abuzz too with the number being similar – 16,000. IBM’s official word is also that they “do not comment on rumors and speculation” but it seems like IBM’s cuts are a lot more likely than Microsoft’s
