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Chinese PC maker Lenovo will cut 2,500 jobs, or about 11 percent of its workforce, during the first quarter, the company said Wednesday. The cuts will include management and executive positions. In addition, Lenovo will cut executive compensation by 30 percent to 50 percent, and trim bonuses.
If history were a reliable guide, a job hunter would stay as far away from the telecom field as possible. Ten years ago, telecoms could not hire enough people to keep up with the demand. The industry was investing millions, if not billions, in telephony and Internet infrastructure. Then the dot-com bubble burst, and many telecom staffers went on the dole for a year or more.
The same credit problems that have hit many a home mortgage holder are also threatening to unplug troubled electronics big-box store Circuit City. The nation’s second-largest seller of consumer electronics said Monday it will close 155 stores, lay off up to 17 percent of its 43,000-employee U.S. workforce, and consider all options to restructure its business.
Immigration is becoming as nettlesome to high-tech companies as it has long been in the agriculture and construction businesses. Although technology firms don’t reach into the same labor pool as do ag comglomerates or building contractors, their problems are converging. The challenge, advocates of immigration reform say, is a lack of government responsiveness to their need for brain power.
Railhead, a massive government IT project, is failing — and it’s not an isolated case. Large IT projects in agencies from the FBI to the Census Bureau spectacularly — and, it seems, regularly — crash and burn, much to taxpayers’ disgust. It seems there are certain aspects of government culture that make IT failure more likely. It just may be that failure is built into the system.