Reinvention Brings Layoff Pain

Susan Hall
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It's been quite the month for layoff news, lending a somber tone to the holiday season for many. The latest? Nokia Siemens plans to cut 17,000 jobs worldwide by the end of 2013 to better focus on mobile broadband.

 

Last week Wells Fargo announced it will eliminate 25 positions in its server management group and eliminate 30 unfilled IT positions. Software maker Adobe said earlier this month it will slash 750 positions as it pursues a digital strategy, and chip maker AMD plans to cut its work force by 1,400. Don't forget the 800 cuts announced in late October by Motorola Mobility, which is being bought out by Google. And then there's the 500 positions chopped at HP as it ditched the webOS division.

 

Most of the layoffs are in companies - Adobe's a prime example - seeking to reinvent themselves to compete in a changing marketplace. But the pain of realignment with the market remains pain nonetheless.

 

And the stalled economy remains worrisome. Gartner recently advised CIOs in Europe to be prepared for a few more lean years. The analyst firm says IT spending in developed markets is slowing - it predicts a 3.9 percent increase worldwide next year, compared with 5.9 percent in 2011. Still, it predicts companies will continue to invest in IT, which will be more important than ever in driving business growth.



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