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Microsoft CEO Steve Ballmer told a gathering of analysts that the company won’t be making any further layoffs, and once word got out, Wall Street proceeded to pummel the company mercilessly, sending its stock to an 11-year low. Analyst Rob Enderle told us the no-more-layoffs decision made sense because there just aren’t a lot of unnecessary people on Redmond’s payroll, but Wall Street was having none of it.
Sony CEO Howard Stringer has taken over the stumbling company’s main consumer electronics business after removing Ryoji Chubachi from the helm. Stringer, who has been with Sony since 1997 after a long career in television, will replace Chubachi as president.
The management organizational chart at Yahoo suddenly has fewer brackets on it, and the lines from those brackets now lead toward one name: New CEO Carol Bartz, who Thursday announced the first steps in realigning the company’s executive structure. As many analysts and tech bloggers expected, Bartz’s moves are designed to help push Yahoo back to its Internet startup roots.
Dell said Thursday its profit dove 48 percent during the fiscal fourth quarter as the recession forced consumers and businesses to spend less on technology. The company also said it expects to make further cuts to its work force. Earnings for the quarter that ended Jan. 30 sank to $351 million, or 18 cents per share, from $679 million, or 31 cents per share, a year earlier.
“As the world struggles to rebuild confidence and trust in markets, the values of currencies fluctuate widely and cause uncertainty and increase currency risk,” according to Morrison Bonpasse, president of the Single Global Currency Association, as he speaks with E-Commerce Times columnist Theodore F. di Stefano.