11 posts and columns on economic downturn

Global Chip Sales Down 9 Percent in 2009–Not 11 Percent

in News on February 1, 2010 at 7:30 am PT

Global chip sales fell nine percent in 2009, beaten down by the econalypse, which hamstrung demand for all manner of consumer electronics. A nasty drop, but not nearly as bad as it could have been or, indeed, what was expected. Because at $226.3 billion, total chip sales for the year were far better than the $219.7 billion the Semiconductor Industry Association had been expecting.

Microsoft Sacks 800 [UPDATED]

in News on November 4, 2009 at 4:58 am PT

“We are mostly but not all done” with layoffs. So said Microsoft CEO Steve Ballmer in May at the start of a second round of cuts that claimed the livelihoods of some 3,000 employees. Now, six months later, the company is finishing the job. Sources tell TechFlash that Microsoft will make additional job reductions this week–beginning as early as today.
LAYOFFS_BOBS_THUMB

Here Are the Condé Nast Cuts: Modern Bride, Elegant Bride, Gourmet, Cookie Closing

in Media on October 5, 2009 at 7:56 am PT

Here are the long-awaited cuts that Condé Nast has been mulling: Modern Bride, Elegant Bride, Gourmet and Cookie are all closing. More details via an internal memo from CEO Chuck Townsend.
conde-nast-building

Microsoft Starts the Layoff Machine Again With Thousands of Cuts: Steve Ballmer’s Memo to the Troops

in Media on May 5, 2009 at 7:45 am PT

Here comes the second round of layoffs at Microsoft, following a first round that started in January. Today’s cuts will likely end up costing about 3,000 workers their jobs. Microsoft had previously warned that it would cut up to 5,000 jobs by 2010. The good news, says CEO Steve Ballmer: The newest round means “we are mostly but not all done” with layoffs. Here’s Ballmer’s memo to the troops.
ballmer

Voices

Intel Makes Nonspecific Shelf Filing to Raise Capital

in News on February 23, 2009 at 3:05 pm PT

Intel this morning filed with the SEC for a potential future securities offering. The shelf filing provides no specific information on any immediate plans to raise cash, and covers the potential sale of equity, debt, preferred shares, warrants and various other types of securities. I presume that the advantage of making a filing of this type is that it allows the company to move more quickly when it really does decide to raise capital.

Voices

Sun Micro: Goldman Downgrades to Sell; Stock Slides

in News on January 8, 2009 at 5:45 am PT

Goldman Sachs analyst David Bailey cut his target price for Sun Microsystems from $5 to $3, putting the company’s stock under some pressure this morning. His reason? Sun’s services are heavily concentrated in telecom and financial services, putting it at a disadvantage compared to its more diversified competitors, weakening its position during the economic downturn.

[UPDATE] Time Inc. Layoffs: Publishers, Top Execs at Southern Progress and Cooking Light Out

in Media on November 19, 2008 at 8:38 am PT

Time Inc. is cutting something like 600 employees, but for the past few weeks it has been doing so in small steps: 10 here, 30 there. That will change today when up to 250 people at Time Warner’s magazine unit are expected to get pink-slipped. Leaving the company along with them, executives from Cooking Light and Southern Progress.

Economic Crisis Drives Notebook "Rightsizing"

in News on October 15, 2008 at 6:30 am PT

At first glance, the growth of the global personal computer market during the third quarter would seem to belie any notion of a vast economic downturn. Despite the financial crisis gripping Wall Street, PC shipments increased 15 percent from the third quarter of 2007 to the third quarter of 2008, according to Gartner.

Economic Crisis Drives Notebook “Rightsizing”

in News on October 15, 2008 at 6:30 am PT

At first glance, the growth of the global personal computer market during the third quarter would seem to belie any notion of a vast economic downturn. Despite the financial crisis gripping Wall Street, PC shipments increased 15 percent from the third quarter of 2007 to the third quarter of 2008, according to Gartner.

Voices

Surprise! The Net Is Part of the Economy After All

in News on July 17, 2008 at 6:29 pm PT

Sorry to disappoint everyone, but the evidence is piling up today: The Internet really is a part of the overall economy. While the optimists had hoped that the efficiency of Internet-based advertising would make it a more appealing place to buy ads in a downturn, it is increasingly obvious that the current economic straits are too widespread for Internet businesses to avoid.