BT shares have taken a harsh hit this morning as the company announces ongoing issues with their Global Services unit. Shares in BT fell 15 per cent to 104.7p, causing BT’s market value to suffer a loss of £1.5 billion. Between October and December of last year, BT’s Global Services unit was slapped with a [...]
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Posts Tagged ‘unemployment’
» Nortel files for bankruptcy as shares plummet 76 per cent
As the country falls further into a pit of economic despair, America’s leading manufacturer of telephone equipment, Nortel Networks Corporation has declared itself bankrupt, filing for bankruptcy only one day before an interest payment of $107 million was due to be paid. The move comes after shares in the corporation dropped by 76 per cent [...]
» Barclays cut 400 IT jobs claiming the roles were “unclear”
Barclays have decided that they need to offload some of the IT jobs that they are deeming unnecessary. Barclays are cutting 400 IT jobs as they claim the roles of the employees are unclear. The move came after a review of the bank’s operations. The bank released a statement on the subject, claiming, “Barclays continually [...]
» The world braces as Microsoft get ready to sack up to 17 per cent of their employees
It seems as though Microsoft is getting ready to let go of around 15,000 jobs around the world. The job cuts would be the first that the highly popular company would have made since the company’s creation 32 years ago. Microsoft currently employs around 91,000 people around the world, however, news is circling the world [...]