Feeds

New Yahoo! CEO's former company cuts and restructures

She's "exactly what Yahoo! needs"

Secure remote control for conventional and virtual 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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
Bada-Bing! Mozilla flips Firefox to YAHOO! for search
Microsoft system will be the default for browser in US until 2020
Google bags OBSCENELY LARGE Times Square ad space for New Year's
Choc Factory pays millions for whacking new digital screen
'Cleantech' a dirty word for VCs? RUBBISH!
They just think the current schemes are terrible
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
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.
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.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.