China Financial Daily

October 8, 2008

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

Filed under: Financial News — Tags: , — Nancy @ 11:43 am -0700

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 layoffs 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 layoffs within future two years, most of the layoffs would be from EDS. In detail, 1150 layoffs 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 lay off 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 lay off the employees and reduce the salaries.

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October 6, 2008

Yahoo Layoffs; Alibaba Layoffs

Filed under: Financial News — Tags: , , , , , — Nancy @ 3:09 am -0700

Alibaba will dismiss the Employees after National Day
Alibaba now encounters cold winter: the stock prices of Alibaba suffered the drastic devaluation; the subsidiary companies have been combined; payment users have lost. Moreover, Alibaba is involved in the layoff problems. Yesterday (Oct. 5), a reporter released that in order to smoothly pass this difficult time, Alibaba group will greatly dismiss employees after the National Day; therefore, the new round layoff tide will be developed.

Yahoo is carrying out a Large-scale Layoffs
According to foreign media on Oct.3, the informed people disclosed that Yahoo is making a new round layoff planning; the number of layoffs is expected to be no more than 20%. At the end of Sept., some one suggested that Yahoo should lay off 3018 employees, while this number has exceeded 20% of the total staff amount. But the informant claimed there would be little possibility for Yahoo dismissing the employees, whereas there is also some pessimistic prediction, which claimed that there would 3500 Yahoo employees be laid off.

Chinese Economic Growth in Current Stage

7.1% Average Annual Increase of Net income for Chinese Farmers
The report from National Development and Reform Commission shows that Chinese farmers have 7.1% average annual increase of net income in 30 years’ reform and opening up according to the comparable price. The report says that there is tremendous change in Chinese rural economy and society. The average net income of farmers increase from 133.6 yuan in 1978 to 4140.4 yuan in 2007, which increases 138 yuan every years averagely.

Chinese Non-public Economy has developed rapidly in 30 Years
Reporter of Xinhua Beijing on October 5 reported that since the reform and opening up, Chinese non-public economy has developed rapidly. Individual industrial and commercial households have developed into 27.5909 million from 0.1007 million in 1978; the private companies developed into 6.2387 million from 90.5 thousand in 1989; and the foreign–invested enterprises from zero to 0.4191 million companies.

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October 5, 2008

Emphasizing Tax Reduction

Filed under: Financial News — Tags: , , , , — Nancy @ 8:14 am -0700

The New Plan emphasizes Tax Reduction
This monday, after rejecting the original plan, government carried out an emergency consultation with the congress. Its added content include:

EBay will announce the first-large-scale Layoffs Plan on Monday
According to the reports from the technology blog, after the Wedge Partner company’s suggestion to lay off 10% staff, the rumors about eBay’s layoff gathered more and more.

Samsung and LG will launch Android Phone in the third Quarter of 2009
The rumors about the new Android equipment gather more and more, so we are all extremely curious about what kind of Android equipment are waiting for us.

other news:

The first Association in Yunnan Province set up to protect Enterprises’ Trademark and Brand
Recently, Kunming Xishan area set up the first association for the Protection of enterprises’ trademarks and brand names.

Google and Yahoo postpone their Advertisement Cooperation
Reports from U.S. media on 4th: internet giant Google and Yahoo have agreed to postpone the searching advertisement cooperation, so that the U.S. department of justice could have more time to review this deal.

Forbes: Jobs only has one Life valued at 18 Billion
The article published on Forbes Web pointed out that, although the false news about Jobs’s heart attack on Friday showed the value of his life, in a degree revealed the consequences of the civilian false reports.

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