technologyIf you thought the legal profession was taking a beating in the recession, spare a thought for the IT companies who are bleeding profusely. Workforces are being slashed, and some large tech companies are filing for bankruptcy.

Motorola to slash 4,000 more jobs
Motorola is to cut another 4,000 jobs, over and above the 3,000 redundancies it announced in October, as a further deterioration in its mobile handset business led the telecoms company to predict a fourth-quarter loss.

Seagate announces 3,000 job cuts
The world’s largest maker of computer disk drives announced the worldwide job losses and large pay cuts for most of its employees just two days after replacing its chief executive.

Siemens warns over orders
Siemens yesterday warned the credit crisis could lead to order cancellations and price erosion in the second half of the year. 

Nortel Networks files for bankruptcy protection
Nortel Networks, the Canadian telecoms equipment maker, filed for bankruptcy protection yesterday.

Lenovo to cut 2,500 jobs as PC sales tumble
Lenovo, the Chinese personal computer maker, said on Thursday it would cut 11 per cent of its workforce and forecast a ‘material loss’ for the last quarter of 2008, becoming the latest company to be hit by falling demand for PCs.

Ireland to lose 1,900 Dell jobs
The decision by the world’s second largest PC maker may be an early-warning sign of further closures by US multinationals seeking to cut costs in face of the global slowdown.

Logitech warns of gloom ahead
The maker of peripheral equipment for computers and electronic entertainment systems reports a 70% fall in net profits in the crucial third quarter as a result of a decrease in sales.

Intel to close its last Silicon Valley plant
The move is part of a wider series of closures that will lead to the loss of up to 6,000 jobs. It follows an unexpectedly severe slump in chip demand in recent weeks.


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