Cisco Systems was preparing to lay off about 1,300 workers just a few months after the world’s largest maker of computer networking equipment warned that growing economic uncertainty is making it tougher to close deals.
Published reports say Hewlett-Packard is poised to eliminate up to 30,000 jobs to help offset dwindling demand for personal computers as more people connect to the Internet on smartphones and tablets.
Yahoo CEO Scott Thompson has reassured the struggling Internet company’s employees that he will tell them more about his turnaround strategy next week.
Yahoo is laying off 2,000 employees as new CEO Scott Thompson sweeps out jobs that don’t fit into his plans for turning around the beleaguered Internet company.
San Jose’s Mayor Reed is pleased his most recent budget report shows a surplus, but admits cuts to services are partly the reason for being in the black.
San Jose Mayor Chuck Reed supports a study that he commissioned that suggests both the fire and police departments could slash hundreds of jobs.
Bank of America, one of California’s largest employers, will cut about 30,000 jobs over the next few years in a bid to save $5 billion per year.
Oakland Mayor Jean Quan cast the deciding vote Thursday night as the Oakland City Council approved a budget for fiscal 2012 by a narrow 5-4 margin only hours before its deadline.
The San Jose City Council has approved a budget that includes hundreds of layoffs, in an attempt to close a $150 million deficit. The final vote was 7-4 in favor of Mayor Chuck Reed’s budget plan for 2011-2012.
Aerospace and defense contractor Lockheed Martin Corp. plans to cut 1,200 employees in its space systems equipment division. The cuts include workers in the Bay Area.