Feeds

New Yahoo! CEO's former company cuts and restructures

She's "exactly what Yahoo! needs"

Remote control for virtualized desktops

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
'Internet Freedom Panel' to keep web overlord ICANN out of Russian hands – new proposal
Come back with our internet! cries Republican drawing up bill
What a Mesa: Apple vows to re-use titsup GT sapphire glass plant
Commits to American manufacturing ... of secret tech
prev story

Whitepapers

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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
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?