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HP revenue drops, plans to lay off 6,000
Hewlett-Packard reported a 3% drop in revenue as its major lines of business continued to be hammered by the global recession. Over the next 12 months, HP will lay off about 2% of its work force, or about 6,000 employees.

Union says IBM may cut 4,000 U.S. jobs as part of work shift to India
IBM may be getting set to make its largest single workforce reduction thus far this year, according to the Alliance@IBM employee union, which says it has heard that the cutbacks will affect about 4,000 U.S. workers at IBM's Global Business Services unit.

Cisco to cut home broadband perks to reduce costs
Cisco Systems is ending a policy that allows its employees to expense their home broadband service as part of a wider effort to reduce costs in the tough economic climate.

Intel freezes salaries from CEO on down
Intel Corp. said it has frozen the salaries of employees across the board, including the chip maker's top executives, in a further effort to reduce costs.

Millions expected to cut back cell phone costs in recession
A new survey says millions of Americans expect to cut back on their cell phone costs to save money if the recession continues as expected.

Microsoft slashes software leasing prices in bid to keep cash-strapped corporate customers
In an attempt to retain recession-hit companies seeking to opt out of their software maintenance contracts, Microsoft Corp. is wooing them by cutting the price of leasing software by as much as 26%.

Economic crisis means hard times, hard decisions for IT
With the recession putting a big squeeze on IT budgets, cutbacks are the rule. But CIOs are trying to keep key tech projects on track.

Microsoft: H-1B workers among those losing jobs
Microsoft Corp. said it is cutting a "significant number" of foreign workers as part of the layoff of 1,400 employees last week, a number that is due to reach 5,000 over the next 18 months.

Senator questions, prods Microsoft on inclusion of H-1B workers in layoffs
U.S. Sen. Charles Grassley (R-Iowa) told Microsoft Corp. this week that U.S. citizens should get priority over H-1B visa holders as the software vendor moves forward on its plan to cut 5,000 jobs.

Microsoft layoffs could boost Seattle's tech industry in long run
Seattle's tech scene is bigger and more diverse than generally recognized.

Ballmer: Microsoft strained to minimize layoffs
CEO Steve Ballmer said that despite announcing 5,000 job cuts, Microsoft is doing its best to minimize the impact on employees and its ongoing strategic efforts.

Frankly Speaking: For Microsoft, the pain is just beginning
For the past couple of decades, we've been referring to Microsoft as the new IBM. But Microsoft has never learned the lessons of the original IBM -- not even the ones that Microsoft forced Big Blue to learn.

Apple sets revenue record during recession
In the face of a deepening recession and the softening sales of rivals, Apple announced it had set a single-quarter revenue record in the last three months of 2008.

HP expands the PC trash-to-cash market
The downturn has consumers and businesses holding onto PCs and putting off upgrades. HP is trying to shake budgets loose and prompt upgrades.

Intel's net profit drops 90%
Intel Corp.'s fourth-quarter profit plunged 90% from a year earlier, as the chip maker battled a worsening economy and recorded a steep loss from investments.

Report: Microsoft considers major job cuts
Microsoft Corp. may start a "significant" round of layoffs as early as next week, according to a report in The Wall Street Journal.

In a down economy, SaaS revenues rise
The economic downturn has been punishing to many IT vendors, but not software-as-a-service vendors. SaaS providers are seeing double-digit growth in their subscription revenue, according to a Forrester study.

Nortel files for Chapter 11 bankruptcy protection
The Canadian telecommunications equipment company will conduct "a comprehensive business and financial restructuring," and expects to emerge from the bankruptcy process "more focused, financially sound and competitive."

Recession helps send more CEOs to the exits
Nearly 1,500 CEOs left their jobs last year, including 221 in the technology and telecommunications sector, according to outplacement firm Challenger, Gray & Christmas Inc.

Forrester forecasts decline in global IT spending
Global spending on IT products and services will drop by 3% in 2009 to $1.66 trillion when measured in U.S. dollars, but will subsequently rebound by 9% in 2010, according to a Forrester Research study.

Nvidia lowers revenue forecast for Q4
Citing weak demand for its products, Nvidia said revenue in the fourth quarter would be 40% to 50% lower than in the previous quarter.

Job seekers flood IT staffing site
Large numbers of IT workers are signing up to fill a growing number of contract jobs.

IT predictions for 2009: The economy dominates
IDG News Service has set forth again to find out what industry analysts are forecasting for 2009, and talking to sources as well as to geeky friends and colleagues to come up with its own set of predictions for 2009. No surprise, the economy is going to dominate the news for at least 2009.

IT economy goes further off the rails
It was a grim week: Intel cut its fourth-quarter revenue forecast, Sun announced big layoff plans, and IDC lowered its IT spending projections for next year.

Sun reorganizes, cuts up to 18% of workforce
Sun is laying off 15% to 18% of its employees as part of a restructuring plan aimed at saving $700 million to $800 million a year, and its top software executive is leaving the company.

IDC: Grim economy means slowed IT spending for next four years
Market research firm IDC said it now expects worldwide IT spending to increase by 2.6% next year, less than half its previous forecast of 5.9% growth.

IT pros tackle economic crisis head-on
The financial crisis facing many companies was front and center at SIMposium 2008, where IT leaders gathered to share insight on how high-tech executives can use their experience to help businesses weather the current economic storm.

Microsoft CFO outlines plan to weather economic crisis
Microsoft lowered its fiscal 2009 revenue and earnings forecast, prompting CFO Chris Liddell to detail a plan that includes tightening internal spending and being more selective about new investments.

Economic downturn creates rough ride for IT on spending
With the economy struggling and financial markets in a state of chaos, this is becoming a hard time to be an IT manager.

Storage projects still a priority for IT despite economic problems
The economic downturn and Wall Street's collapse aren't stopping companies from investing in data storage projects, attendees at Storage Networking World said.

Wanted: Skilled workers -- but only those with the right skills need apply
Despite all the economic problems in the U.S., IT hiring is still showing signs of life in some markets — to the extent that companies are having trouble filling their open jobs.

PC upgrades: When to turn the page isn't an easy call for IT execs
How often PCs should be replaced might seem like a simple question for IT managers. But the answer isn't so simple, and it certainly isn't universal.

Layoff tracker

Computerworld IT Layoff Tracker
Search and sort our database of announced staff cuts at IT companies, with entries starting in autumn 2008.

Nortel to lay off another 3,200 workers
Nortel Networks said it will lay off 3,200 workers in addition to 1,800 layoffs previously announced as it undergoes a restructuring that is part of its Chapter 11 bankruptcy filing.

Panasonic will cut 15,000 jobs as it forecasts $4.3B loss
Japanese electronics maker Panasonic forecast its first yearly loss in six years and it will slash jobs due to the worsening global economy.

NEC to lay off 20,000, close plants as losses widen
Japan's NEC plans to lay off 20,000 workers, close factories and withdraw from some business areas as a result of the poor economic conditions.

SAP to cut staff as full-year net income dips 2%
SAP AG plans to reduce its global workforce to 48,500 from 51,500 by the end of this year.

Union: IBM layoffs now 4,200 -- may go higher
IBM's not-so-secret layoffs may have reached 4,200, according to Alliance@IBM, which believes that thousands of other employees will be losing their jobs as well before the cuts end.

Sprint to lay off 8,000 by April
Sprint Nextel Corp. said it will lay off about 8,000 workers by April within "all levels" of the company.

Union: IBM layoff count nearing 3,000 this week
Microsoft Corp. and Sun Microsystems Inc. aren't the only top IT vendors laying off employees this week. IBM may have quietly let more than 2,800 workers go, according to the Alliance@IBM union, which expects even more job cuts at the company.

Sun cuts 1,300 jobs as part of larger layoff plan
Add Sun Microsystems Inc. to the list of tech companies rolling out layoffs this week.

Microsoft to cut 5,000 jobs as profits fall
Microsoft today announced it is cutting 5,000 jobs as fourth quarter profits dipped by 11%

Intel to shut four plants, lay off 6,000
Intel aggressively slashed prices on chips on Monday and said it will close four chip plants and cut as many as 6,000 jobs.

Ericsson profit declines, plans to cut 5,000 jobs
Swedish telecom equipment vendor Ericsson saw declining profits for its fourth quarter and will lay off 5,000 employees in a continuing effort to cut costs.

AMD to cut 1,100 jobs and slash salaries across company
Chip maker Advanced Micro Devices will shed 1,100 more jobs and cut salaries as it tries to reduce costs in a tough economic environment.

Motorola announces 4,000 more layoffs
Motorola Inc. plans to lay off another 4,000 employees, mostly from its Mobile Device business, and to report revenue for the fourth quarter of 2008 that would fall short of analysts' current estimates.

Google will lay off 100 recruiters, shift to fewer sites
Google is planning to lay off 100 recruiters and is closing engineering offices in Texas, Norway and Sweden as the company copes with the global economic downturn.

Oracle layoffs not just ex-BEA workers, indicate slowdown
Oracle Corp.'s layoffs late last week, while apparently smaller than reports indicated, still show that the bellwether enterprise software company is feeling the effects of the pinch in corporate IT spending.

With Sun's job cuts, tech sector layoff toll in '08 hits 140,000
The economic downturn that has resulted in tens of thousands of layoffs in the housing and financial services sectors is now bearing down on the tech industry. The job cuts announced by Sun Microsystems Inc. on Friday are only the latest in the growing toll.

Nortel reports $3.4B loss, plans layoffs and internal overhaul
Nortel Networks reported a third-quarter net loss of $3.4 billion and announced plans to cut 1,300 more jobs and eliminate its centralized development, sales, marketing and support organizations.

Citigroup's 52,000 layoffs will impact IT
Expect Citigroup to reach head count reductions by selling off and outsourcing IT operations where it can, one analyst said.

HP announces 24,600 layoffs in wake of EDS acquisition
Hewlett-Packard said it will add 24,600 people to the unemployment lines as part of a restructuring in the wake of its acquisition of EDS.

Advice

How to start an online business for $100
If you're one of the unfortunate folks to have been served a layoff notice, you might be facing a long haul when it comes to searching for another job. Why not start working for yourself by founding your own company.

Study: Six IT fields in top 20 recession-proof professions
To stay employed during the economic downturn, there are six jobs in IT fields that are in demand, according the Jobfox.com.

Money's tight? ROI to the rescue
As economic worries spur a renewed interest in value and IT projects expand to do more than just improve the bottom line, managers need to tweak the tools they use to measure a new class of benefits.

How to stay employed if (when) a recession hits
How secure are you in your job if the economy tanks? Three employment experts offer frank advice on how to stay recession-proof.

Building a recession-resistant career
Faced with a possible recession, many people are worried about job security. Columnist Katherine Spencer Lee offers some strategies for keeping your career healthy in the face of economic uncertainty.

Opinion

Economy: 'We're all doomed!' Well, not quite
The sky isn't really falling, at least not for everyone. Columnist Bruce A. Stewart has some tips for lowering the IT group's stress during these uncertain times.

The R Word: Are you prepared for a recession?
Whether or not a recession is here or on its way, Frank Hayes says now is the time to prepare for one.

Gearing up for recession: Technology as an investment, not a cost
U.S. competitiveness will be harmed if we fall behind in implementing new technologies in the enterprise.

Despite recession talk, it's still a good time to be in IT
Yoh's Jim Lanzalotto takes a look at the current employment picture and finds some bright spots in IT.

The good-news recession and IT
Thornton A. May finds a silver lining in the economic slowdown for IT shops that treat it as an opportunity.

Addressing IT efficiency in a recession
Simply identifying inefficiency is not enough in an organization. The big challenge in storage efficiency is to realize identified improvements. Forthcoming economy-related fiscal constraints highlight the need for storage management to ensure that limited "efficiency improvement" dollars are well spent.