Feeds

New Yahoo! CEO's former company cuts and restructures

She's "exactly what Yahoo! needs"

Boost IT visibility and business value

Oh, the irony. Autodesk has announced it will cut 10 per cent of its workforce and has lowered its fourth-quarter earnings forecast.

Usually, we wouldn't pay the travails of the 2D and 3D software design firm too much heed, but the cuts come just two days after executive chairman Carol Bartz was named the next CEO of Yahoo!.

That's the same Bartz who the search firm heralded as having a "proven track record of driving growth, operational excellence and shareholder value," and "exactly what Yahoo! needs to get back on a path towards achieving its full potential." Pundits, too, have been nodding sagely about the wisdom of the Bartz appointment while sticking the knife in to one-time CEO hopeful, and Yahoo! president, Susan Decker.

Autodesk said it intends to eliminate 750 jobs as part of a restructuring plan to reduce its annual operating expenses by about $130m annually beginning in fiscal 2010. The company also plans to consolidate certain facilities in addition to ongoing cost reductions, including a hiring freeze and business travel restrictions.

During the past year, the company's stock has lost 64 per cent of its value. Net revenue for its 2009 fiscal fourth quarter is now expected to fall between $475m and $500m. It previously had anticipated sales between $525m and $550m.

To be fair, it's amidst a global recession and Autodesk's revenues rose steadily during Bartz 17 years with the company.

"Autodesk has a strong cash position and leadership across multiple product sectors and geographies," CEO Carl Bass said in a statement. "The company has experienced several economic downturns during its 26-year history, and like before, we fully expect to emerge from the downturn stronger, more efficient, and more competitive."

The company plans to announce its fourth-quarter results on February 26. ®

Maximizing your infrastructure through virtualization

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
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.
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.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.