lay off

Social networking company MySpace is laying off almost half of its workforce in a move to restructure the business before it can be sold. The restructuring affects 47% of the staff or 500 employees and comes some weeks after speculations appeared in the media.

According to the source close to News Corp the media giant is not involved in sales talks. Still, mounting losses of MySpace should contribute to the decision to sell it to private equity companies or Yahoo-likes.

Yahoo will lay off another 600 employees as early as today according to the reports from the sources familiar with the case.

The cuts thus represent about 4-5% of the company’s workforce which came to be 14,100 at the end of September according to Yahoo's website.

Earlier this month the technology blog AllThingsD reported that Yahoo planned to cut 650 employees, and the New York Times newspaper reported on Monday that the cuts could take place as soon as Tuesday.
 

Largest UK banks Lloyds and Royal Bank of Scotland reported their plans to lay off more staff this year. RBS announced that it is laying off 221 techies at its Dublin Technology Centre. The Dublin center is to shut later this year with the loss of 196 jobs and 25 posts in Belfast will also go.

RBS promised that it would offer staff redeployment where possible and try and keep compulsory redundancies to a minimum.

Lloyds also announced it is laying off 585 people as a result of the closure of its personal loan centers.

 While the tough economic times press many companies cut their spending on workforce and the number of people unemployed is increasingly growing as it turns out there are still many people who are happy without jobs while their peers who remained at their work places feel unhappy.

Academic researchers who conducted a study during a period of 1996-2006 at Boeing were surprised to find that survivors can suffer just as much, if not more, than colleagues who get laid off.

 A new survey commissioned by Adecco Group North America, part of Zurich-based Adecco Group, and conducted by Harris Interactive, showed that most of American workers think that their bosses are not honest with one in our wishing to dismiss their bosses if allowed.

On the other hand the survey found that only four in ten workers would take the job of their boss if offered. 2/3 of workers said that they would not change anything about their relationship with their boss.