Blockbuster’s reportedly hired a firm to explore bankruptcy options, mulling whether or not they should declare bankruptcy or restructure or both. [Dallas News]
In an effort to cut costs wherever possible, some consumers are going back to the cheaper, crappier-in-every-way dial-up we all cast aside years ago. This recession has just gotten serious.
Microsoft watcher Ina Fried reports that the company won’t be taking back severance “overpayments”, even though it confirmed it did ask for them initially. The truth is, despite numbers reported in the thousands, only 25 people were overpaid, somewhere between $US4000 and $US5000, according to Microsoft HR head Lisa Brummel, who said about 20 more of those laid off were actually underpaid. Microsoft isn’t the only company to ever pay anyone too much then ask for it back, but Brummel says these were extraordinary circumstances, so they’re reversing their decision. Those who were underpaid will be getting the correct funds pronto. [CNet]
The US’s largest camera chain has “between $US100 million and $US500 million of both assets and liabilities.” What with me being someone that’s not good with money or business, I have no idea what that means exactly. [Reuters]
What’s the best way to create an HR firestorm in three easy steps? If you’re Microsoft, layoff 1,400 employees, give them severance on the way out, and then ask for part of it back.
HP will begin instituting a pay cut to its 100,000 employees, with some as high as 20 percent. (HP’s CEO Mark Hurd will be taking the max cut.) HP also plans to cut back other employee benefits such as 401k plans. [WebGuild]
Taken literally, the idiom “tighten you belt” means it’s time to cut back on your strict bacon diet in lean economic times. A recession diet calls for sacrifice—and this belt puncher can help.
In addition to cutting 15,000 jobs, Panasonic’s all but ordering another 10,000 employees who didn’t get axed to buy Panasonic electronics.
A glut of supply has kept DRAM prices at rock-bottom lows recently, but now that the second-largest supplier of RAM chips–Germany’s Qimonda AG–has filed for bankruptcy, we could be in for a price spike.
To help lighten the mood a bit after revealing their fourth-quarter $US3.6 billion bloodbath, Motoroloa CEO Sanjay Jha revealed that we likely won’t see Windows Mobile 7 until 2010 at the earliest.
