Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you think 6 months down the road, the ramifications of this will be huge. All the other computer companies are laying off as well and these are upper middle class people.
Think new cars, high end homes, private schools. Just wait and watch what this does to the economy.
If you think 6 months down the road, the ramifications of this will be huge. All the other computer companies are laying off as well and these are upper middle class people.
As said previously, most of them are on H1-B visas anyway...
As said previously, most of them are on H1-B visas anyway...
Link to your source please ?
Microsoft stuns with profit miss, job cuts - Yahoo! News (http://news.yahoo.com/s/nm/20090122/bs_nm/us_microsoft_16 - broken link)
There's no article I read that said that. I saw contractors being let go.
Usually they keep the H1-B folks because they will work longer hours to make up for the lost employees.
H1-B's are sponsered by the company..if they get fired then they have to go back home. The corporations that hire H1-B's have it made.
snippet:
"As part of the process of adjustments, we will eliminate up to 5,000 positions in R&D, marketing, sales, finance, LCA, HR, and IT over the next 18 months, of which 1,400 will occur today. We’ll also open new positions to support key investment areas during this same period of time. Our net headcount in these functions will decline by 2,000 to 3,000 over the next 18 months. In addition, our workforce in support, consulting, operations, billing, manufacturing, and data center operations will continue to change in direct response to customer needs."
This is too bad. I hate to hear about layoffs anywhere. Just a few months ago when layoffs were occurring (still are) with my husbands job we looked a little at Microsoft because of their amazing benefit packages, job security, etc. I understand why things need to be cut; however, I'm sure this comes as a shock to many employees.
We own a Mac as well. Perhaps Apple will be hiring because of the popularity their products are gaining?
I work in the industry. Jobs are far and few inbetween and currently many, many layoffs are happening. While the employees are gone the job still has to be done..guess where that job is going ?
For global companies, countries outside the US have much stricter labor laws and can't just layoff people via an internal memo.
Happy Texan-can you explain more? I'm curious about what you posted. Do other countries have stricter laws that make it so companies can't layoff? If so, is this something that we could push as a country to cut down on layoffs?
Also, if this worked-what would happen in instances like banking/auto industry where the companies don't have as much business/can't afford to keep employees?
I'll be honest, I follow this board to learn more about economics/banking/finance as I'm not educated more than a few undergrad courses in these topics.
Thanks, this is interesting. I'm sorry to hear of the layoffs in your industry. I hope things get worked out and you're safe. We'll be thinking of you!
Happy Texan-can you explain more? I'm curious about what you posted. Do other countries have stricter laws that make it so companies can't layoff? If so, is this something that we could push as a country to cut down on layoffs?
Also, if this worked-what would happen in instances like banking/auto industry where the companies don't have as much business/can't afford to keep employees?
I'll be honest, I follow this board to learn more about economics/banking/finance as I'm not educated more than a few undergrad courses in these topics.
Thanks, this is interesting. I'm sorry to hear of the layoffs in your industry. I hope things get worked out and you're safe. We'll be thinking of you!
Well IT is not the only industry hit with layoffs.
Check out this site: Layoff Daily
Here's a link to get you started..google is your best friend when you want to learn about something.
The big problem with the economy was high end homes, cars, vacations, and schools financed by debt. I won't miss them because I never had them. It will do the folks good to learn some frugality.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
