Liz Gannes in Social on December 31, 2010 at 1:34 am PT
Myspace–the long-troubled social networking site turned social entertainment hub–is in the midst of planning that could soon result in significant layoffs of its staff, according to multiple sources.
The cost-cutting comes against a backdrop of a possible sale of the News Corp.-owned unit.
Peter Kafka in Media on May 5, 2010 at 4:37 am PT
Maybe the magazine business really did touch bottom last year. At least at Time Warner’s giant Time Inc. unit: The publisher says ad revenue and subscription dollars actually increased in the first three months of 2010.
Peter Kafka in Media on February 10, 2010 at 8:01 am PT
The New York Times said things got better–or, if you like, no worse–during the last quarter of 2009. But investors are disappointed that the publisher isn’t more optimistic about 2010, and they’re pushing shares down this morning. Let’s see if the paper’s executives can turn that around during their earnings call.
Voices
Daisuke Wakabayashi, Reporter, The Wall Street Journal in News on February 5, 2010 at 9:31 am PT
After enduring several painful quarters of restructuring, Sony Corp. posted its first quarterly profit in a year and narrowed its full-year loss projections.
The company also reaffirmed that its cost-cutting measures should finally deliver profitability at its closely watched electronics and videogame divisions.
John Paczkowski in News on January 28, 2010 at 7:36 am PT
Painful as it was, Nokia’s savage cost-cutting is clearly paying off. This morning, the company posted a stronger-than-expected 65 percent rise in fourth-quarter net profit on rising handset sales–smartphone sales in particular.
John Paczkowski in News on January 25, 2010 at 7:32 am PT
The 5,000-plus layoffs Ericsson announced in 2009 evidently didn’t pare the company’s costs as much as the company hoped. Ericsson said Monday that it plans to sack another 1,500 employees this year as it steels itself to compete in a tough market.
John Paczkowski in News on November 18, 2009 at 9:56 am PT
Given its recent string of lousy financial reports, its weak platform strategy and declining share of the the global handset market, I suppose it was only a matter of time before Sony Ericsson began sacking employees again. And it did just that this morning, announcing plans to shutter its Research Triangle Park facility in North Carolina, as well as offices in Miami, India and Sweden.
Peter Kafka in Media on October 30, 2009 at 12:12 pm PT
BusinessWeek employees are waiting to hear if they’ll have jobs once Bloomberg takes over the publication, and I’m told that staffers expect to hear their fate shortly after Thanksgiving. That has to be unnerving, but I can at least offer a little bit of comfort in the worst-case scenario employees would be facing had they been purchased by private equity firm ZelnickMedia. The short version: Almost everybody gets fired.
John Paczkowski in News on October 30, 2009 at 4:00 am PT
The Palm Pre may have been the most successful handset rollout in Sprint’s history, but it hasn’t stopped the carrier from hemorrhaging customers in the months following its launch.
