Feeds

Singapore hit by Compaq job cull

Sixty-two per cent of workforce bite the bullet

  • alert
  • submit to reddit

Remote control for virtualized desktops

Compaq is to slash its Singapore budget in October, casting off 1600 of its 2600 jobs, representing a massive 62 per cent of its payroll. The company plans to sell its plant in Yishun in northern Singapore, and says that its redundant workers could find jobs with the new owner. Compaq officials would not comment on potential savings to the company, or on charges for the cuts. "It will improve gross margins and return to shareholders," said Tan Choon Seng, vice president for finance and strategic planning at Compaq. This is the latest in a string of jobs losses in the island's electronics industry. Disk drive manufacturers Western Digital and Seagate said that they would be shedding 4100 jobs in order to stay competitive. Seagate will move its operations to Malaysia. Singapore's economic recovery has been dependant on the electronics industry, but analysts say that the industry will continue to grow in the region, despite the losses. Electronics output increased by 20.7 per cent last year, including a 34 per cent increase in July on the previous year. The cuts will be completed by March next year, and are part of Compaq's worldwide belt tightening operation, aiming to reduce the workforce by 8000 overall. ®

Remote control for virtualized desktops

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.