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Full blown recession

Full blown recession

What we have seen in October, November was recession which is just getting started. December is kind of eased on account of the holiday season as no one wants to give bad news to employees and some employers didn't want to show the layoffs on the last year books. All those are coming out now and the recession is full blown from January 1st.

On Tuesday, Nortel filed bankruptcy. In 2000, it stock price was $830 and today it is trading at 30 cents.

On Wednesday, Motorola decided to proceed with only a Google phone. It may not continue with the remaining phones. The company confirmed another 4,000 layoffs after 7000 layoffs in the last year. (Update: Just got the news from a friend - his friend got the pink slip this morning in Chicago. Most of them are affected in the Chicago office, SanJose office seems to be safe. Full details are yet to be known.)

Oracle announced 500 layoffs on the same day.

Furthermore, on Wednesday, Google closed down engineering offices(remember I mentioned on my blog that Google will close all their satellite engineering offices) in Dallas, Denmark, Sweden and laid off 100 full time employees in head quarters after terminating 10,000(or so) contractors. Moreover, it is closing Google video, catalog search, Dodgeball, Jaiku and Mash up editor products as they don't have any traction.

Microsoft is planning for layoffs which rumored to be in thousands.

Today Circuit city decided to shut their doors as bankruptcy couldn't save its fate. Total 34,000 jobs lost.

AMD announced 1,110 job cuts, salry cuts and suspended 401K matching program.

These are just technology companies. How about non-technology companies such as financial, manufacturing etc.?

How long the recession is going to be???

More Stories By Hari Gottipati

Hari K Gottipati is a software professional, consultant, speaker and freelance writer who specializes in Java, mobile computing, cloud computing, virtualization and Ajax. Proven Java enterprise lead, competitive analyst, technical architect and loves coding. Expert in analyzing market landscape for startup ideas and molding them into successful products with the technical/competitive advantage. Regularly writes for Syscon media, O'Reilly publications and his quotes can be often found in various technology news/magazines. Well known blogger and his blogs can be found at sys-con.com, onjava.com and xml.com. Speaks at various events on latest technologies including Mobile, Cloud computing, Ajax, Web 2.0, Web OS and of course Java. Hari serves on technical advisory board for various small to medium size companies where he provides technical vision for the future. Worked for many wireless startups, as well as big companies including Yahoo, Travelocity, and Motorola. Passionate about technologies and spends most of his time exploring bleeding edge software technologies.

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