Adobe Lays off 600 people

By Paul | Dec 3, 2008

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Adobe might also hire new workers within Europe, he said. The cuts will be formally announced on Dec. 15 when the company releases its fourth-quarter financial report.

[via Infoworld]

This is another technology company to lay off people, there are some talks that it would be around 600 workers on some blogs. Others are just talking about the Management shakedown, and some workers are going to be moved around. I don’t know who is going to be laid off, or if there will be a tremendous amount of people who will need to start looking for a job. I do know that Adobe is looking for ways to cut cost, and I expect they are having problems just because of the Recession. If you want to check out other jobs that have laid people off, just click this link.

Adobe also announced the implementation of a restructuring program, and has taken steps to reduce its headcount by approximately 600 full-time positions globally. The restructuring will result in anticipated pre-tax charges totaling approximately $44 million to $50 million. The Company expects approximately $28 million to $30 million of the restructuring charges to be recorded in the fourth quarter of fiscal year 2008.

Black Friday becomes Blacker!

By Laforge129 | Nov 28, 2008

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There aren’t a lot of details yet, but news sources are saying that in Palm Desert, California, two people died after a shooting inside a Toys R Us. One story suggests that the shooting was the result of an altercation between two teenage girls. Apparently, a boy, listed as a juvenile, was responsible for the shooting and was detained.

[Via Gizmodo]

According to Gizmodo, two people are dead and I’ve looked at KMIR News 6 and There is no more information. I do not like this years black friday it seems like Recession is hitting people harder than people thought!! Not much else is known but this is going to be the worst Black Friday for a while. I don’t think there has been any thing like this before.

Technorati Officially laysoff 6 people!!

By Laforge129 | Nov 25, 2008

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Technorati released today they are going to Lay off 6 people and I will quote:

Unfortunately, this means sacrifices. Technorati’s management team members are taking pay cuts ranging from 15-25% and employees are taking 10% cut. This also includes the reallocation of staff. We’re laying off six employees today – including two executives — and there are two additional departures we won’t replace. These are high performers who have worked long hours to get us where we are now. They’re also friends, and we’re very sad to see them go. We simply need a leaner and reconfigured mix to get us through 2009.

[via Technorati Weblog]

They will also be taking pay cuts all through the company. So the recession is hitting them also. I am sure CEO Richard Jalichandra has the company interest in mind. According to Techchunch, they have added these recent layoffs ticker. You can also search my blog for other layoffs that have happened or will happen.

Citigroup bank might be saved through the recession.

By Paul | Nov 23, 2008

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According to reports from ABC News, Citibank is having a hard time and might need to be assisted by the government.

The company has seen its shares lose 60 percent of their value in the past week, reflecting a crisis of confidence among skittish investors. They are worried all the risky debt on Citigroup’s balance sheet will turn into losses as the economy worsens and the markets stay turbulent — losses that could be nearly impossible to reverse.

[via ABC News]

Although this is somewhat expected, I don’t think we can afford to pay the debt of a bank. We are all having to deal with this recession. I don’t know how they can afford to pay for Citigroup and expect this to help bolster the economy. I guess only time will tell!!!

Rumor: GE to be the next to layoff its workers!!

By Paul | Nov 9, 2008

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GE to Layoff it workers!

According to sources of friends close to me, their seems to be a consensus that there will be a major layoff coming from GE. My source is talking about it being a lot of people will be laid off and that it will start happening in the coming weeks.

According to Yahoo Finance saying this “52 week change of GE is -50.86% from last year. ”

Now last year this time there Stock Price was 38.38 a Share and now they are 18.60 a share. They dropped -19.78 over the year. The seemed to get close to the 38.38 a share on April 4, 2008 with making 37.56 a share. That was there highest this year, due to the fact that people were getting there income tax refunds in the mail. Also NYSE says they had a slight increase in July and Aug, that is due to the Stimulus package that we got in 2008.

Circuit City to layoff employees and might close several stores!

By Paul | Nov 7, 2008

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Some sources are say this:
The newspaper cited one of the affected workers, who indicated that between 500 and 800 employees would be let go. The layoffs reportedly began yesterday with the departure of several “upper management” executives, the source said.

[via Twice]

Now I know people hate when I blog about this because it is so depressing but I do like to let people know about this stuff so you can know what to expect in the coming future. This is all due to the economy and the recession that is on our doorsteps. If you would like to find out what other companies are laying off that I know about just click this [LINK] and it will show you all the other blog posts that I talked about that have or are laying people off. I keep telling people to keep there resume’s ready for just this type of outcome.

The Magazine Time, plans to elimate 600 jobs in the near future!

By Paul | Oct 29, 2008

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According to Time Inc. Editor in Chief John Huey is planning on Laying off over 600 jobs:

Time Inc., the world’s largest magazine publisher, plans to cut 6 percent of its work force — more than 600 positions — and will revamp the organization in a way that could radically alter the culture at the company.

[via Nytimes.com]

With the way the economy is, we have more and more people who are having trouble with Layoffs. I got a list of companies right now who is laying people off. If you want to check it out just CLICK HERE.

Now let’s talk about the bigger picture, people are worried and want to get through this with out getting hit hard. So what is true hardship, that comes when you least expect it and want it. I’ve come to the conclusion that it will happen in the best of times. You see most people don’t know what hardship is until it hits them in the square on the head.

Fidelelity to Lay off more than 4000 people in 2008.

By Paul | Oct 28, 2008

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Fidelity Investments acknowledged yesterday it is studying cost cutting but declined to comment on an industry report that it plans to lay off up to 4,000 employees as plunging stock markets cut into the value of its mutual funds business.

[via Boston.com]

Now this is another example of all the layoffs that are coming due to the recession. If you want to find out all the other layoffs that I have found just search my site. There are far to many for me to list now. I am not happy with what seems to be and down ward spiral.

Largest Employer : University of Pittsburgh Medical Center is planning layoffs!!

By Paul | Oct 23, 2008

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Is this the beginning or the end of the recession? After seeing this today I wanted to talk about this development. If they layoff a large number of people is this going to effect your chances of finding a job? Here’s what they had to say:

The University of Pittsburgh Medical Center has plans to reduce its 50,000 workforce by a small percentage. UPMC did not immediately release any specifics.

“As the economy deteriorates, we are proactively taking these steps to ensure that our growth in expenses is not outpacing our growth in revenues,” a UPMC statement said.

[via WTAE.TV]

So now that they have said this, what’s the percentages of the workforce are going to be laid off? I wanted to talk about how you could get ready for the imminent day of this. Here’s some good links to consider:

And here are some other companies who are planning layoffs or have laid off people:

Mahalo Lay’s off around 10% of it’s workforce!!

By Paul | Oct 22, 2008

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In an email he sent to the readers of his publication, Jason Calicanis talks about having to lay off around 10% of people from Mahalo. Here’s the quote:

We’ve laid off a just under 10% of our full-time staff, cut our overhead by doing smart things like renting desks (we have six desks/offices available fyi), and reorganized our editorial department to focus on freelance positions over in-house editors. The net result
of the effort is we are giving Mahalo another year of “dry powder” (or runway) to complete our mission.

This is not to be unexpected after all the talk about the recession coming our way. It does however emphasizes the need for companies to consider there profit margins and accounting strategy.

Mahalo was launched in May 2007 as an Alpha test. That is to say only a select number of people were able to access the site and create feedback to the development of the site. As of January of 2008 it is in what we call the Beta test phase. Which means more people are testing it out and find out it’s flaws to report back about where they need to improve. Mahalo’s directory employs human editors to review websites and search engine results.