These Companies Slashed Thousands Of Jobs This Year

This will help save $100 million each year as per official management reports. This move was welcomed by Wall Street and it also witnessed a rise in the share value to 8 percent.

Microsoft: The Company put the whole tech world on hold when it’s newly appointed CEO, Satya Nadella, announced the plan of cutting 18,000 jobs by 2015. This comes as a shocker because the company is doing pretty well and also this will be the biggest job layoffs in the history of Microsoft.

The Nokia’s devices and services department will be witnessing the most layoffs with about 12,500 job cuts. This new move by the CEO was not highly appreciated by the management but they were easily calmed when the company’s shares increased a percent higher.

HP: One of the largest employers in the technology world when it comes to workforce statistics is also witnessing a huge job cut scheme under the CEO, Meg Whitman. The CEO Whitman is believed to have revived the dying company but this came with extreme sacrifices when jobs were cut mercilessly. In the summer of this year the company announced it would cut another 11,000 to 16,000 jobs in addition to the 34,000 job cuts it had disclosed the previous year.

The layoff plans will save over $1 billion a year. The company has seen a growth of 27 percent in its quarterly reports but it is believed that a huge percentage was gained due to the number of job cuts. There was also an increase in stocks of 6 percent since the announcements of the layoffs.

Intel: The behemoth chip maker has also decided to downsize to save some money. The largest chip maker in the world revealed that it will cut 5 percent of total global workforce, which amounts to 5,200 jobs, by the end of 2014.

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