Yahoo to announce layoffs this Week

clipped from www.alleyinsider.com We heard whispers of this last week, and now the Merc is hearing them, too: Yahoo will reportedly announce its mass firings on the earnings call this week. A reader tells us the company has scheduled an all-hands meeting in Sunnyvale on Wednesday, presumably to deliver the message that all Yahoo employees already got from the Merc and Google News. Let's just hope Yahoo isn't dumb enough to announce the firings now and then wait until mid-December to actually make them. Let's also hope the company doesn't cut too few people and then have to go through the same horrific process again in Q1.

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AdBrite cuts 40% Staff to survive the downturn

clipped from www.mediapost.com Online ad network AdBrite is laying off 40% of staff, or about 40 employees, as it restructures amid an economic slowdown chilling both online and offline ad spending. AdBrite is the second company backed by Sequoia Capital to make significant employee cutbacks following the now-famous meeting the venture firm held last week with portfolio company CEOs, stressing the need to control costs and become profitable to survive the downturn.

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Increase in the % Workers participating in Employee Retirement Plans

clipped from workforce.com The percentage of all workers participating in employment-based retirement plans was 41.5 percent in 2007, up from 39.7 percent a year earlier, according to a study by the Employee Benefit Research Institute. Among full-time workers 21 to 64 years old, 55.3 percent were in an employment-based plan in 2007, up from 52.7 percent the previous year, according to a news release on the study issued by EBRI in Washington. Other findings in the study were: • 63.9 percent of workers 55 to 64 were in a retirement plan in 2007, compared with 28 percent of workers ages 21 to 24. • 57 percent of full-time female workers participated in a plan in 2007, compared with 54 percent of male workers. • Florida had the lowest representation of workers participating in plans in 2007, at 42 percent. Wisconsin had the highest participation rate, at 68 percent.

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eGrabber Forms Strategic Partnership with Zoho

Source: eGrabber Press Release

San Jose, CA, Oct 09, 2008 - eGrabber, the leading Silicon Valley-based provider of sales lead and resume data capture and processing solutions, announced ResumeGrabber Pro support for Zoho People. This integration will allow Zoho People users to auto-extract resumes from the Internet, Outlook inbox, PC folders, etc. and have them entered into Zoho People.

The partnership between eGrabber and Zoho will be a wide-ranging relationship that will leverage the complementary core strengths of both these organizations to the benefit of the customer.

"This collaboration with Zoho provides a combined scope with opportunities to significantly extend our solutions to a much wider audience" said Chandra Bodapati, CEO, eGrabber. "This partnership will benefit Zoho People users immensely as it will transform the way they source and process resumes."

eGrabber's solutions will completely eliminate the pain of having to manually screen every resume and copy-paste contact information from each selected resume into Zoho People. One has to simply select the resume or contact information and click on ResumeGrabber to enter resumes into Zoho People.

"This partnership will give recruiters exactly what they need to improve their productivity manifold" said Sridhar Vembu, CEO, AdventNet. "Combining eGrabber's patented data-capture solutions with Zoho People will add incredible efficiency to the workflow and maximize revenues."

ResumeGrabber for Zoho People is priced at an annual subscription fee of $495 only. For more information on the product, please visit http://www.egrabber.com/resumegrabberpro/

Information on all other products, including ResumeFinder, ResumeGrabber Professional and ListGrabber Professional, can be found at http://www.egrabber.com/

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General Motors eyes more job cuts

clipped from www.vindy.com General Motors Corp. is likely to announce further production cuts and possible plant closures as early as next week as it deals with slumping sales and a collapse in its stock price, a person with knowledge of the company’s plans said Friday. The person, who did not want to be identified because the plans are not finalized, said the cuts likely will hit engine, transmission and stamping operations to correspond with a June announcement that GM would close four truck and sport utility vehicle assembly plants. The closure dates for those plants likely will be accelerated, the person said. GM announced last week that its Moraine, Ohio, SUV factory will close Dec. 23, and it has said it will idle assembly factories in Oshawa, Ontario; Toluca, Mexico; and Janesville, Wis., by 2010.

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Micron planning to cut staff by 15%

clipped from www.computerworld.com Micron Technology Inc. and Intel Corp. plan to shut down their joint production of NAND flash memory from a plant in Boise, Idaho, and Micron plans to lay off about 15% of its workforce in another sign that the economic meltdown is taking its toll on some tech companies. The moves are a result of a combination of lowered customer demand and product oversupply in the market, Micron said in a statement. Intel and Micron, through their IM Flash Technologies joint venture, were supplying NAND flash memory from Micron's Boise facility. The shutdown will reduce the joint venture's NAND flash production by about 35,000 wafers per month, in the factory using 200-millimeter manufacturing lines per month. IM Flash Technologies also has a facility in Lehi, Utah, which has 300mm manufacturing lines.

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Retirement Age 67 is the target for 48 percent of US Workers.

clipped from workforce.com Only 48 percent of American workers plan to retire at age 67, with others planning to work longer, according to a survey released by Sun Life Financial. The data also showed that only 46 percent of those surveyed are “very confident” they will have enough money to take care of basic living expenses at 67, and 28 percent are “very confident” they will be able to take care of medical expenses. Younger generations have little confidence that government benefit programs such as Social Security and Medicare will be available when they retire, as 63 percent of workers 30 to 39 years old don’t believe Social Security will be available. The same age group also noted the need for employer-sponsored health care benefits as a reason to work past 67.

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