Feeds

SGI doubles job-loss total

3000 jobs to be lost, but only takes a hit on 1500

  • alert
  • submit to reddit

The essential guide to IT transformation

SGI pulled a neat trick yesterday, doubling the number of job cuts it intends to make in its restructuring programme, yet claiming it's only laying off the 1500 staff it said it would last month. How was this feat of mathematical dexterity achieved? The addition 1500 jobs will not be axed -- the company will simply pack those staff into its Windows NT workstation and Cray supercomputer divisions. And, as it hopes to sell both operations off in the very near future, SGI manages to rid itself of 3000 unwanted people but by taking a redundancy hit for only 1500. Smart, eh? The plan is unlikely to upset any of SGI's shareholders since the process of selling the Cray and NT divisions will push the company's upcoming Q2 results into profit. SGI's CFO, Steve Gomo, also said the company would grow in profitability through the second half of the fiscal year. SGI's second quarter ends 31 December. The sale of the both operations is proceeding "quite well", said Gomo, who added that buyers will be announced in the very near future, possible later this week in the case of the NT division. ® Related Story SGI to spin off Cray, NT workstation biz, graphics expertise

5 things you didn’t know about cloud backup

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?