layoffs

Nortel Networks will be cutting an additional 3,200 jobs, or more than 10 percent of its workforce worldwide over the next several months as the company tries to survive a bankruptcy restructuring.

Nortel, which makes telecommunications equipment, had already announced 1,800 job cuts last year. The company currently employs about 30,000 people around the world. In the 1990s and early 2000s, during the telecom boom, Nortel employed about 95,000 workers. And at one point in 2000 the company accounted for one-third of the market value on the entire Toronto Stock Exchange, the Associated Press reported.

But … Read more

This story was updated at 3:45 p.m. PST with an official statement from Microsoft.

Amid a wave of criticism, Microsoft is backtracking on a decision to require laid off workers to pay back money that the software maker said was in excess of its planned severance, CNET News has learned.

Over the weekend, Microsoft confirmed it had overpaid severance to some workers and underpaid others. At the time, the company did not say how much money was involved, but sent the workers who were overpaid a letter saying they would be required to pay back the money in … Read more

As layoffs continue apace, a survey released on Monday shows what many companies fear--exiting workers are taking a lot more with them than just their personal plants and paperweights.

Of about 950 people who said they had lost or left their jobs during the last 12 months, nearly 60 percent admitted to taking confidential company information with them, including customer contact lists and other data that could potentially end up in the hands of a competitor for the employee's next job stint.

"I don't think these people see themselves as being thieves or as stealing," said … Read more

Heavy & Flo return to the show. It's supposed to be a monthly thing, but our schedule is a little erratic. Just be thankful we're not pregnant. They're up to their usual high-jinks because Daddy Bakalar is out of town to keep us in check.

The Oscars were on last night, so Heavy & Flo think it's an appropriate time to make fun of Japanese men, who can barely speak English. OK, Mr. Yu and Mr. Tang seem to think that it's pretty damn funny, too, when he thanks his pencil. Flo recounts her story … Read more

Editor's note: Since this story was published, Microsoft has reversed its decision. You can read an updated story on its decision here.

Microsoft says it made an accounting error when it laid off some employees last month and now feels the best way to correct the error is with what will likely add up to a public relations blunder.

The software giant, which recently laid off 1,400 employees, sent letters (see image below) this week to some of those former workers letting them know that their severance payouts were a bit too "generous" and respectfully requested … Read more

Silicon Valley was late to the recession "party," but the global financial crisis is causing companies to tighten their belts, leaving a stretch of Highway 101 relatively traffic-free and out-of-work entrepreneurs with some difficult choices.

A new report from the Joint Venture Silicon Valley and the Silicon Valley Community Foundation, as The New York Times details, indicates a 1.3 percent drop in Silicon Valley employment. That may not sound like much, but if you've driven in Silicon Valley lately in rush-hour traffic, you can see a real difference.

Not everyone, however, is being hit equally:

The … Read more

With the economy reeling and layoffs piling up, business-networking site LinkedIn has been not-so-surprisingly hopping.

Market researcher ComScore reported that LinkedIn's unique visitors rose to 7.7 million, a 22 percent increase over December, TechCrunch reported Saturday. And not only are more people visiting LinkedIn, but they're hanging around longer as well. Total minutes spent on the site last month more than doubled from December to 96.8 million, according to TechCrunch.

More people are helping out friends looking for jobs as well. Recommendations were up 65 percent last month over December, TechCrunch said.

Microsoft has quietly reorganized its Zune team, splitting up the hardware and software teams, CNET News has learned.

The software and services portion of the Zune team--the bulk of its staff--will be added to the portfolio of Enrique Rodriguez, the vice president who currently runs Microsoft's Mediaroom and Media Center TV businesses. The hardware team, meanwhile, will now report to Tom Gibbons, who also leads the hardware design efforts within Microsoft's Windows Mobile unit.

"We're just being very pragmatic and even more so in a world in which not even Microsoft can afford to over-invest," … Read more

Google's radio advertising business has become the newest project that didn't pass muster in Google's new financially rigorous era, and up to 40 employees will lose jobs as a result, the company said Thursday. However, the company isn't completely withdrawing from the market, saying it's begun exploring ads for streaming audio instead.

"While we've devoted substantial resources to developing these products and learned a lot along the way, we haven't had the impact we hoped for. So we have decided to exit the broadcast radio business and focus our efforts in online … Read more