China Financial News Headlines

October 8, 2008

Global Layoffs (eBay, Volvo Car, HP, Hon Hai, Grand Network)

Filed under: financial news — Tags: , — Nancy @ 11:43 am -0500

eBay announced to dismiss 10% of Global Employees
Yesterday, eBay announced to dismiss 10% of global employees, which was expected to affect 1,000 employees and hundreds of temporary workers. eBay Chinese company told reporters that the would involve the Chinese employees, but there would not have too much influence.

Volvo Car Corporation announced to dismiss 3,300 People
Volvo Car Corporation announced on October 8, 2008 that they would dismiss 3,300 employees in global range so as to the face the continuing sluggish sales and the negative impact from the loss.

Hewlett-Packard announced to dismiss 1,400 employees in Germany
According to foreign media reports, Hewlett-Packard announced on Monday that they would have 1400 within future two years, most of the would be from EDS. In detail, 1150 would be from EDS which just purchased by HP, while the rest 250 would be the employees from Hewlett-Packard.

Taiwan richest man: Guo Taiming (Terry Guo) plans to lay off 15%
Guo Taiming (Terry Guo) plans to 15% employees, so 70 thousand employees from Mainland will meet temporary difficulties. It is reported that Guo Taiming (Terry Guo) said: “If the global economy has further deterioration, Hon Hai Group will laid off 10% -15% of employees at the end of this year.”

Chen Tianqiao promises not to lay off the Employees and reduce the Salary
The news on Oct.7 was reported that chairman of Grand Network, Chen Tiaoqiao promised not to the employees and reduce the salaries.

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1 Comment »

  1. Shares of Hewlett-Packard (HPQ 29.34) are seeing some positive support ahead of the session’s opening bell as investors react to upbeat guidance. HP stated this morning that it expects fourth quarter revenue to come in around $33.6

    Comment by hpq — December 7, 2008 @ 7:43 pm -0600

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