[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'C')hipmaker Advanced Micro Devices Inc. says it will cut nearly 1,800 jobs, about 15 percent of its workforce, by the end of the year in order to reduce spending in the face of dwindling sales. AMD is the world's second-biggest maker of microprocessors for personal computers and PC sales are falling. That's partly due to more consumers shifting away from PCs and doing their computing on tablets and smartphones.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'S')wiss banking giant UBS AG announced massive layoffs Tuesday along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. The bank posted a net profit loss of 2.17 billion Swiss francs ($2.31 billion), compared with a profit of 1.02 billion Swiss francs ($1.13 billion) during the same three-month period through September 2011.

[lowem]

businessweek.com :

$this->bbcode_second_pass_quote('', 'A')lcatel-Lucent SA (ALU) Chief Executive Officer Ben Verwaayen will need to eliminate an additional 10,000 positions to catch up with more efficient rivals as the unprofitable phone-equipment maker’s cash pile dwindles. Even taking into account the 5,500 job cuts announced in October, Alcatel-Lucent’s revenue per employee was 49,700 euros ($63,600) last quarter, at least 14 percent less than those of Nokia Siemens Networks and Ericsson AB, data compiled by Bloomberg showed...

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'I')NG Groep NV, the Dutch bank and insurance company, has revealed plans to cut 2,350 jobs alongside a sharp drop in third-quarter profits. It says Wednesday that its net profit fell to €609 million ($783 million) from €1.69 billion a year ago. It says the decline was due to it selling assets at a loss to eliminate the potential for bigger losses later. The job cuts represent 2.5 percent of ING's workforce.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'S')wedish wireless equipment maker LM Ericsson says it is slashing 1,550 jobs in Sweden in a bid to lower its costs, with the bulk of the reductions being made within the company's key networks unit. Last month, Ericsson reported a 43 percent drop in third-quarter net profits as the global financial slowdown caused operators to become more cautious about investing in its network infrastructure business.

[lowem]

channelnewsasia.com :

$this->bbcode_second_pass_quote('', 'C')ommerzbank, Germany's second-biggest bank, is preparing to axe up to 10 percent of its workforce in the coming years, or 5,000-6,000 jobs, the weekly Die Zeit reported on Wednesday. Die Zeit, in a pre-release of an article to appear on Thursday, said Commerzbank is planning billions of euros in cost-cutting across all divisions between now and 2016.

[lowem]

channelnewsasia.com :

$this->bbcode_second_pass_quote('', 'G')erman engineering giant Siemens launched on Thursday a massive strategic effort to slash costs by 6.0 billion euros ($7.6 billion) over the next two years after losing ground to competitors. Siemens's net profit tumbled 27 percent in the 12 months to September "as we didn't fully succeed in significantly boosting our performance vis-a-vis competitors," chief executive Peter Loescher said.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'E')nergizer Holdings Inc said on Thursday that it would cut more than 10 percent of its workforce, or about 1,500 people, as it tries to rev up results in its battery business. Energizer has been reviewing everything from procurement to manufacturing and selling, general and administrative costs. The company said it wants to streamline its lineup of household products to allow it to focus on the core battery business.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'I')nternational Airlines Group warned on Friday that its Spanish carrier Iberia was "in a fight for survival" and unveiled a restructuring plan to cut 4,500 jobs as it reported a drop in third-quarter profit. Iberia CEO Rafael Sanchez-Lozano said the carrier is losing money in all its markets and was "burning €1.7 million ($2.17 million) every day." IAG, which was formed in early 2011 by the merger of British Airways and Iberia, has given the Spanish unions a Jan. 31 deadline to reach agreement on the job cuts. The proposed job cuts would shrink Iberia's payroll from 20,000 to 15,500 and its capacity by 15 percent. The company will suspend non-profitable routes, shed 25 aircraft and adjust salaries.

[lowem]

news.yahoo.com

$this->bbcode_second_pass_quote('', 'A')bout a fifth of Panasonic Corp's 88 business units are losing money and only half so far meet a target for at least 5 percent operating margin, the Japanese electronics group's finance chief said in an interview on Wednesday. Hideaki Kawai said the country's biggest commercial employer will axe another 10,000 jobs by end-March as it pares its costs and looks to return to profit. Panasonic shed 36,000 jobs last business year, some through the sale of businesses.

[lowem]

engadget.com :

$this->bbcode_second_pass_quote('', 'T')exas Instruments signaled its intentions to back away from the volatile mobile market as the summer came to a close. Unfortunately, we're now learning that the shift comes at a price - as part of a wider set of cost-cutting measures, TI is shedding roughly 1,700 jobs worldwide. The chip designer hasn't said how soon the layoffs take effect, but these and the overall budget trimming should lead to savings of about $450 million per year by the end of 2013.

[Tanada]

$this->bbcode_second_pass_quote('lowem', '[')url=http://www.engadget.com/2012/11/14/texas-instruments-to-cut-1-700-jobs-as-part-of-shift-from-mobile/]engadget.com[/url] :

$this->bbcode_second_pass_quote('', 'T')exas Instruments signaled its intentions to back away from the volatile mobile market as the summer came to a close. Unfortunately, we're now learning that the shift comes at a price - as part of a wider set of cost-cutting measures, TI is shedding roughly 1,700 jobs worldwide. The chip designer hasn't said how soon the layoffs take effect, but these and the overall budget trimming should lead to savings of about $450 million per year by the end of 2013.

[Lore]

A lot of manufactures of the actual devices are moving towards making their own chips. Intel is having similar problems.

[lowem]

I don't have exact numbers off the top of my head just like that but the current trend seems to be a continuing fall in PC sales. Lenovo taking over as #1 PC maker from HP is looking more of a pyrrhic victory by the week. It's a slightly bigger piece of a shrinking pie overall. HP shares are about half the price they were a year ago thanks to falling revenue. Dell sales have fallen something like 10%.

Consumer electronics, especially the higher-end stuff, IMHO has always veered towards the consumer discretionary side of things. You *don't* need to replace your phone every year, even though they come up with major new flagship models at that rate, and for the likes of Samsung, various different models seem to come out every few *weeks*. Yep, the big money now is in mobile, witness Samsung's $7 billion profit (per *quarter*), and Apple's numbers are around there as well. But really I can't help but wonder if there is a saturation point, a *peak* somewhere amongst the whole mobile bandwagon.

A slide back into recession would push things down rather quickly, unless your dear Fed chairman can dump about $6 to maybe $8 trillion out into the economy, that might be about what it takes to keep things, ah, floating.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'P')rocter & Gamble Co plans to trim more non-manufacturing jobs through 2016, on top of a 10 percent reduction target it should meet this year, and said it may increase stock repurchases to $6 billion from $4 billion. The world's largest maker of household products laid out its latest plans on Thursday as it works to improve its structure and cut costs. P&G remains on track to eliminate about 5,700 non-manufacturing jobs by the end of the current fiscal year that will end in June. It now plans to reduce another 2 percent to 4 percent of its non-manufacturing jobs each year during fiscal 2014, 2015 and 2016. Competitors such as Kimberly-Clark Corp and Colgate-Palmolive Co are also trimming their ranks.

[lowem]

And now for something completely different.

m.yahoo.com :

$this->bbcode_second_pass_quote('', 'A')uto companies are betting on a surge in pickup sales now that home building is on the rise. Chrysler said Thursday it is adding 1,000 workers to its Ram pickup factory because it sees higher demand for the redesigned truck. Ford and General Motors also say truck sales are climbing fast after several years of small but steady growth.Truck sales rise or fall with home construction, since they're the vehicle of choice for contractors and construction crews. And there are growing signs that home construction and prices are in the midst of a steady recovery, said Tom Libby, lead North American forecasting analyst for the Polk research firm.

[lowem]

$this->bbcode_second_pass_quote('pstarr', 'M')aybe they are vanity big rigs for the 1%?

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'B')anks worldwide are shedding jobs as stricter regulations and euro zone worries take their toll on trading income and investment banking units. Many began outlining layoffs plans 18 months ago and are now cutting more deeply as they reassess their entire business to cope with tougher capital rules, while some are cutting because of acquisitions or mergers they are involved in. Staff cuts announced since mid-2011 or reported to be in the works at major banks have now reached 158,000.

Below are aggregates of various redundancy rounds. They are likely to be conservative figures, as not all banks have announced lay-offs publicly, and the number does not take into account smaller investment banks, boutiques and brokers. The data also shows the net job losses (or job additions) at these firms since the end of 2009, when the euro zone debt crisis began.

BANK Cut plans* Total staff**
HSBC 30,000 267,000
BANK OF AMERICA 30,000 272,594
LLOYDS 15,000 95,975
UBS 13,500 63,745
ROYAL BANK OF SCOTLAND 6,418 140,300
UNICREDIT 6,150 157,190
ING 5,050 94,000
INTESA SANPAOLO 5,000 97,144
MONTE DEI PASCHI DI SIENA 4,600 30,422
CITIGROUP 4,500 262,000
MORGAN STANLEY c.4,333 57,726
BARCLAYS 3,922 139,000
CREDIT SUISSE 3,500 48,400
...

[dolanbaker]

$this->bbcode_second_pass_quote('lowem', '[')url=http://news.yahoo.com/p-g-plans-cut-more-jobs-repurchase-more-141507274--sector.html]news.yahoo.com[/url] :

$this->bbcode_second_pass_quote('', 'P')rocter & Gamble Co plans to trim more non-manufacturing jobs through 2016, on top of a 10 percent reduction target it should meet this year, and said it may increase stock repurchases to $6 billion from $4 billion. The world's largest maker of household products laid out its latest plans on Thursday as it works to improve its structure and cut costs. P&G remains on track to eliminate about 5,700 non-manufacturing jobs by the end of the current fiscal year that will end in June. It now plans to reduce another 2 percent to 4 percent of its non-manufacturing jobs each year during fiscal 2014, 2015 and 2016. Competitors such as Kimberly-Clark Corp and Colgate-Palmolive Co are also trimming their ranks.