Feeds

Chinadotcom slashes 500 jobs

What a miserable start to the day

  • alert
  • submit to reddit

5 things you didn’t know about cloud backup

NASDAQ-listed Chinadotcom is to slash some 500 jobs in its bid to break even, the company announced today.

This latest round of job cuts is in on top of redundancies announced in March when the content and e-services company said its headcount would reduce from 2,417 to less than 2000 by Q2.

The job losses will bring Chinadotcom's workforce down to around 1,500. As a result, it is looking to make savings by reducing its need for office space which will include cuts at its corporate HQ in Hong Kong.

Downsizing at such a rapid pace should save the company some US$50 million in its bid to break-even.

Said CFO Daniel Widdicombe: "Given the current and projected Internet economy, we need to create a healthier size and structure to capitalise on the changed competitive landscape both from an operational and an acquisition standpoint."

Giving 900 or so people the boot since March is one way of doing that, we guess. ®

5 things you didn’t know about cloud backup

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
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.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise 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?