Monster Cable, purveyors of grossly overpriced products, feel your pain during these tough financial times. That’s why they are reducing their ridiculous prices to slightly less ridiculous prices during the recession.
A Pew survey back in 2006 showed what Americans felt were their necessary luxuries (car, TV, air conditioner, computer). That survey was recently re-done, and tech showed surprising strength despite the economy.
Apple’s financials looked pretty spectacular this quarter, with a total profit in excess of $US1.2 billion despite the gruesome economy. They also exceeded expectations for iPod and iPhone sales, laptop sales, and layoffs. Wait, what?
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]
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.
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 a time when we’re hearing bad news coming from basically every company out there, Sony’s 4th quarter numbers are a notch below the rest: a 95% drop in profits.
Remember when Howard Stringer said that he “wasn’t recession proof” at this CES keynote? Yeah, he wasn’t joking. Sony is about to post its first loss in 14 years, and it’s a doozy.
