Boost in second-hand games sales upside of global financial crisis
The games software industry has found an unexpected silver lining, with sales in the second-hand games sharply increasing amid the economic turmoil of the global financial crisis.
The games software industry has found an unexpected silver lining, with sales in the second-hand games sharply increasing amid the economic turmoil of the global financial crisis.
The US House of Representatives has passed an US$819 billion economic stimulus package, with money for broadband deployment, health IT and a national electric smart grid included.
Workers laid off from Nortel are pleading with the company to restore their severance packages.
Symantec posted a big loss Wednesday, citing the tough economic climate, but the company's quarterly earnings still were better than analysts had expected.
IBM's not-so-secret layoffs may have reached 4200 Tuesday, according to Alliance@IBM, which believes that thousands of other employees will be loosing their jobs as well before the cuts end.
President Barack Obama's US$825 billion economic stimulus package got the enthusiastic endorsement Wednesday of IBM CEO and Chairman Sam Palmisano and other business leaders.
Nearly half of companies working to reduce costs attempt to avoid permanent layoffs, according to recent survey results, opting instead to freeze salaries and cut travel expenses.
Barack Obama used his first weekly address as U.S. president to provide more details of his proposed US$825 billion American Recovery and Reinvestment Plan that, among other things, will upgrade classrooms, invest in renewable energy and expand broadband Internet access.
The bankruptcy filing by Germany's Qimonda AG last week marks a first for a major technology company amid the current global economic downturn, and it likely won't be the last.
Sony will disclose on Thursday how a restructuring plan announced in December will hit its domestic operations in Japan, the Nikkei business daily reported Thursday morning.
On November 6, Sam Palmisano, chairman, president & CEO of IBM, made an important speech entitled "The Smart Planet: The Next Leadership Agenda" at the Council of Foreign Relations in New York City. That speech is only now getting public press attention.
With an abundance of projects on the cards for 2009, the outlook for IT recruitment remains positive, according to Melbourne-based IT recruiter Peter Acheson.
The drumbeat of economic bad news louder in the IT industry last week, as Intel reduced its fourth-quarter revenue forecast by as much as 20 percent and Sun Microsystems announced plans to lay off up to 18 percent of its workforce.
The economic downturn that has resulted in tens of thousands of layoffs in the housing and financial services sectors is now bearing down on the tech industry. The job cuts announced by Sun Microsystems on Friday are only the latest in the growing toll.
The auto industry has been offering US lawmakers an apocalypse-level scenario warning them that as many as three million jobs could disappear if automakers run out of cash.