From the category archives:

Financial Crisis

Apple Axes 1,600 Retail Employees. Prepares For Recession?

April 24, 2009

Maybe to Apple, the recession hasn’t quite come yet. Their earnings on Wednesday, impeccable, and now they have cut 1,600 retail employees in a cost cutting effort. The retail arm of the company now employs 14,000 full-time equivalent workers, down from 15,600 according to a recent filing with the SEC.

Expansion of the Retail segment has [...]

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Face It: GM Sucks

April 2, 2009

In the wake of GM asking for more money from our government, (no big deal, just $2.6 billion more) I had to post this chart displaying why GM didn’t deserve any of the help they’ve received thus far, and certainly doesn’t deserve more. If this graph isn’t proof enough that GM sucks, I don’t know [...]

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Last Minute Layoffs Keep Coming In

March 26, 2009

With the end of Q1 2009 almost here, trying to cut costs at the last minute to impress investors is becoming a quick trend. We just heard about Google layoffs, now 5,000 people from IBM are losing their jobs in the U.S. Amazon cut 210 people at three distribution centers in Nevada, Indiana, and Pennsylvania. The [...]

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PC Sales Outlook Worst In History

March 2, 2009

Research outfit Gartner today warned that PC sales will suffer the “sharpest unit decline in history” this year. Gartner expects the PC industry to ship just 257 million units this year. That’s an 11.9 percent decline from 2008, one that easily eclipses the previous worst decline in 2001, when shipments fell 3.2 percent. Gartner [...]

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HP CEO’s Letter To Employees Regarding Pay Cuts

February 19, 2009

Here is the letter Hewlett-Packard (HPQ) CEO Mark Hurd released explaining the company’s bleak outlook for the rest of the year (AllThingsD). Things are so tough, Hurd will even be cutting his own pay by 20 percent, executives’ pay by 10 percent to 15 percent, and most employees’ salaries by five percent.

Hurd’s letter in full:
Today, [...]

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