Research in Motion, the maker of the BlackBerry smartphones and tablet, said Monday that it will cut its workforce by about 2,000 jobs and move some executives into new roles in an effort to battle the continued growth of Google's Android and Apple's iPhone.
The job cuts, which are beginning on Monday, will leave the Canadian firm with about 17,000 employees, RIM said. The moves follow a 12% drop in quarterly revenue during RIM's fiscal first quarter, which was reported in June.
BlackBerry maker RIM to cut about 2,000 jobs, shuffle executives
Largest networking-equipment maker Cisco may cut 10k jobs to help company save $1 billion
Cisco Systems, the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14%of its workforce, to revive profit growth, according to two people familiar with the plans.
The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren't final.
Here's a debt reduction plan: Collect billions from tax cheats
At a time when higher taxes or deeper government spending cuts seem to be the only options available to close the gaping federal deficit, going after more $400 billion a year in uncollected taxes should be a no-brainer.
But in the nation's capital, the so-called "tax gap" hardly rates a mention in the official discussion of America's fiscal woes.
SEC lax in monitoring firms’ compliance, inspector general report says
The Securities and Exchange Commission doesn’t just enforce the rules that govern Wall Street. When asked, it often grants individual companies exemptions from the rules. But companies that win those special breaks often fail to comply with the conditions that come with them, the SEC’s inspector general said in a report released Thursday.
What’s more, the agency has no formalized process for monitoring whether companies live up to their end of the bargain, the report said. Though the agency routinely inspects financial firms, “only in rare cases” did the examiners focus on that question, the report said.
Hey! The Gig Is UP! Federal Reserve Act Has a Backout Clause
Article I, Section 8, Clause 5, of the United States Constitution provides that Congress shall have the power to coin money and regulate the value thereof and of any foreign coins. But that is not the case. The United States government has no power to issue money, control the flow of money, or to even distribute it - that belongs to a private corporation registered in the State of Delaware - the Federal Reserve Bank.
With executive pay, rich pull away from rest of America
For years, statistics have depicted growing income disparity in the United States, and it has reached levels not seen since the Great Depression. In 2008, the last year for which data are available, for example, the top 0.1 percent of earners took in more than 10 percent of the personal income in the United States, including capital gains, and the top 1 percent took in more than 20 percent.
But economists had little idea who these people were. How many were Wall street financiers? Sports stars? Entrepreneurs? Economists could only speculate, and debates over what is fair stalled. Now a mounting body of economic research indicates that the rise in pay for company executives is a critical feature in the widening income gap.
How a Whistleblower Blew the Lid Off Wachovia-Drug Cartel Money Laundering Scheme
Martin Woods, an Englishman in his mid-40s, is blessed with a Sherlock Holmes instinct and demeanor. Woods is an expert at sniffing out "dirty" money passing through International Banking Systems.
A police officer for 18 years and later a detective with London Metro Police Agency, Woods capitalized on his unique expertise as a fraud expert by joining Wachovia's London-based Bank in March 2005 as an anti-money laundering officer.
More Articles...
- Ten Charts that Prove the United States Is a Low-Tax Country
- Goldman fined $10 million and to stop trading 'huddles'
- The $2.5 Trillion Tragedy: What America Has Given Up For 10 Years Of Bush Tax Cuts
- Congressional Research Service Confirms Big Banks Borrowed Cash For Next To Nothing, Then Lent It Back to the Federal Government at Much Higher Rates
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