Tag: laying

Lenovo begins laying off employees as PC biz takes a beating

[ad_1]
New Delhi: Global technology brand Lenovo has reportedly started laying off employees, as its PC business suffers significantly amid economic downturn.
According to a report in CRN, the job cuts at Levono are “part of a roughly $115 million cost-cutting plan”.
Lenovo CEO Yang Yuanqing had informed in February about a coming “workforce adjustment” as part of a broader reduction in spending.

The company had about 75,000 employees at the end of its 2022 fiscal year.
“Like our CEO Yuanqing Yang said at our most recent quarterly earnings announcement, we are reducing operational expenses and making workforce adjustments where necessary and appropriate,” a company spokesperson said in a statement.
“We continue to invest in the areas that accelerate growth and the overall transformation of the company,” the spokesperson told WRAL TechWire.
A “severe downturn” in the PC and smartphone markets caused the company’s revenue to drop 24 per cent (year-on-year) to $15.3 billion and net income to $437 million in the quarter ended December 31.
The company had hinted at the job cuts in future as part of the overall cost reduction.

Lenovo CFO Wong Wai Ming had blamed the downturn on a “confluence of global economic challenges and dynamic shifts in market demand”.
In the March quarter (Q1 2023), weak demand, excess inventory and a worsening macroeconomic climate resulted in the global shipments of traditional PCs recording 56.9 million, a huge 29 per cent drop compared to the same quarter last year, according to the International Data Corporation (IDC).
Lenovo led the global PC market with 22.4 per cent market share, followed by HP Inc at 21.1 per cent and Dell Technologies at 16.7 per cent.
According to the report, the pause in growth and demand is also giving the supply chain some room to make changes as many factories begin to explore production options outside China.
If recession in key markets drags into next year, recovery could be a slog.
[ad_2]
#Lenovo #begins #laying #employees #biz #takes #beating
( With inputs from www.siasat.com )

April 24, 2023
Expedite land resurvey, including laying survey stones: AP CM tells officials

[ad_1]
Amaravat: Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Friday directed officials concerned to expedite land resurvey under ‘YSR Jagananna Saswata Bhu Hakku Bhu Raksha Pathakam’ scheme, including completing first phase for 2,000 villages by May 20, along with laying of survey stones.
In a review meeting, the Chief Minister ordered officials to ensure that every village secretariat has one rover at least for better flow of resurvey at the village level.
The state has taken up resurvey of lands on a large scale after hundred years, unlike any other state, said Reddy in a statement and added that this exercise is important not only to the present generation, but also posterity.
The southern state aims to employ modern technology and dole out tamper-proof documents to land owners so that none could manipulate them.
Meanwhile, officials apprised the CM that 31 lakh survey stones are ready to be set in place once the survey gets completed, out of which 50,000 are ready to be supplied on a daily basis.
Reddy instructed officials to procure sufficient number of stones for the next phase, while municipal officials informed that they are making preparations to survey urban areas and data analytics are currently ongoing.
Panchayat Raj officials also told the CM that survey of 300 villages would be completed by the third week of April and in all villages by December end.

Subscribe us on
[ad_2]
#Expedite #land #resurvey #including #laying #survey #stones #tells #officials
( With inputs from www.siasat.com )

March 31, 2023
Google now begins laying off employees in China

[ad_1]
Hong Kong: Google is now laying off employees in China that have hit senior positions and high-paying workers as part of the global announcement, the media reported on Monday.
The aim of the company is to “reset the salary standard and reduce operating costs while improving overall work efficiency”, reports Pandaily.
The compensations include stock and annual leave discount and 30,000 yuan ($4,339) in cash and medical insurance, and these benefits can only be obtained by signing the agreement of leaving the company before March 10, the report noted.
“In addition, Google has provided a three-month buffer period for laid-off employees, during which they cannot work but will continue to be paid normally,” it added.
Alphabet, Google’s parent company, recently laid off 12,000 workers and even 100 robots that cleaned its cafeterias at its headquarters. The company sacked about 400 employees in India as part of the global announcement.
On January 20, Google CEO Sundar Pichai confirmed in a letter to employees that about 12,000 people will be laid off globally, accounting for more than 6 per cent of the total workforce.
Several Google employees went to social media, especially LinkedIn, to share their plight.
Denying that the layoffs were done “randomly”, Alphabet and Google CEO Sundar Pichai had said that he is “deeply sorry” for reducing the workforce.

In an email to employees, Pichai said he takes “full responsibility for the decisions that led us here”.
The layoffs at Google’s parent company were expected amid the deepening funding winter that has hit companies of all sizes in the global slowdown and recession fears.
[ad_2]
#Google #begins #laying #employees #China
( With inputs from www.siasat.com )

March 6, 2023
Apple begins laying off third-party contractors: Report

[ad_1]
San Francisco: Apple, the only Big Tech company that has avoided mass layoffs to date, has reportedly started laying off third-party contractors.
The New York Post reported, citing people with direct knowledge, that the iPhone maker has started to cut ties with hundreds of contractors quietly.
“Instead of waiting for contracts that are typically renewed every 12 to 15 months to expire, Apple is firing contractors outright,” said the report, citing sources.
Apple did not comment on the report.
According to the report, firing contractors is a move to cut costs.
The company hasn’t disclosed the size of its contractor workforce, but reports suggest it numbers in the thousands.
Apple CEO Tim Cook had called layoffs at the company a “last resort kind of thing”, adding that “You can never say never”.
Cook had told the Wall Street Journal that Apple is managing costs very tightly.

“We want to manage costs in other ways to the degree that we can,” he was quoted as saying.
Apple faced supply chain disruptions in October and November as China faced Covid surge and protests erupted at its key supplier Foxconn’s main factory in the country.
Cook said that Covid-related challenges “significantly impacted the supply of iPhone 14 Pro and iPhone 14 Pro Max and lasted through most of December”.
As a result of a challenging environment, “our revenue was down 5 per cent year over year”, he added.
According to Wedbush tech analyst Dan Ives, Apple didn’t overhire during the pandemic.
Apple’s employee count went up by about 7 per cent in 2022 compared to 2021.
Cook has already taken a huge pay cut of $35 million, or more than 40 per cent of his compensation.
[ad_2]
#Apple #begins #laying #thirdparty #contractors #Report
( With inputs from www.siasat.com )

February 17, 2023