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MSI to lay off 10-20% of employees after the holidays?
The sources say that MSI will begin trimming at some point after the holidays, likely in early 2010. The company will focus its firepower on business units and other departments with excess personnel as well as those with unsatisfactory performance. Workers involved with netbook, notebook, and graphics card sales are also under evaluation.
Since the company is mostly attempting to eliminate overlapping and poorly performing staff, it will hire new recruits to replace the gap. DigiTimes notes that MSI has denied the rumors, so this could very well be a load of hot air.
User Comments: 28
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Lay offs are never good news :/
And I thought the recession was pretty much over
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Staff
Recession or not, companies still clean house when needed. That said, nothing is official yet.
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Lay offs will always happen regardless of recession. Business's will cut costs to uphold their bottom line, and the easiest way to cut costs is to cut people...
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ouch right after the holidays now that is a blow i figured the holidays would bring increased profit which would stop all the lay offs but guess i was wrong i feel sorry for all those people since i have gone thru the same thing
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Not unusual for layoffs to occur right after the holidays when everything slows down. But if this pans out and it really is 20% of their workforce, that is a considerable amount of layoffs. I wouldn't be investing in any MSI stock right now.....
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Timonius said:
Hmmm... would I buy any MSI products right now? Either the workers are going to work extra hard to keep their jobs or if they know 1 in 5 will lose their job they might just slack off. I'd be questioning the quality of the manufacturing...
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It's very sad to hear about this stories, my friend just got fired a few week ago, I hope this ends soon :S, anyway, I agree with Tom SEA jaja, I would not invest in MSI right now, well in fact I don't really like their products
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I wouldn't be investing in any MSI stock right now.....Actually trade markets tend to react positively to lay-offs as they expect that the lay-offs will mean brighter operational results in the following quarters & the shares tend to go up in value accordingly.
Lay-offs can almost be considered to be quick share boosters, one of the many evil sides to a stock market.
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At least they are waiting till after the holidays. Lay-offs are only a quick visual fix to a deeper problem.
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I was laid-off once, and it was before the holidays.
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I never liked MSI products. Had a mobo from them a few years back that was nothing but problems
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I can't comment on the quality of MSI products having never owned one, but with the launch of some new notebooks (Two of which are actually articles today on techspot) you might expect less layoffs in that sector of business. Unless of course they don't sell then there might be more. Sure am glad I don't work for MSI right now.
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Puiu said:
If MSI denied the rumors then the lay offs might not happen or the numbers might be lower than 10%. Either way at least they are waiting for the holidays to pass.
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mmh, I thought MSI is doing quite well. it's hard for me to see them laying off workers again this year. Maybe they are not doing as well as I have thought.
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sky_could_fall said:
It`s the fastest way to cut expenses but for short period of time. This shows that even in computer industry things aren`t going too good too.
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I think its expected of them to deny the rumors, they don't want to freak out employees (ahead of time),
layoffs are always bad though... you could be stuck without a job for a very long time, and it eats up all your savings (I've seen it)
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Elohim83 said:
At least the motherboard unit of MSI seems to do it's work right if the article is correct about which sections are under the "hammer", so to speak. Good for them in these dark times, economically speaking.
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This is not good for the employees of MSI that will be laid off. On the other side cutting high paid jobs will give the MSI company more profit. And can cut down price range of their products.
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Puiu said:Nirkon said:
I think its expected of them to deny the rumors, they don't want to freak out employees (ahead of time),
layoffs are always bad though... you could be stuck without a job for a very long time, and it eats up all your savings (I've seen it)
If lay-offs are going to happen then the employees will be the first to know, not us.
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20% is a large cut. perhaps it's more of a house-cleaning, which is followed by addition of new staffs? Market is on its way up, so this is sort of a cold blow, though...
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KG363 said:
Ive always been a fan of MSI. Its sad to hear this news
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Puiu said:Nirkon said:
I think its expected of them to deny the rumors, they don't want to freak out employees (ahead of time),
layoffs are always bad though... you could be stuck without a job for a very long time, and it eats up all your savings (I've seen it)
If lay-offs are going to happen then the employees will be the first to know, not us.
exactly, but I wonder what other computer-makers will start having layoffs heh.... well look at the bright side people that hadn't have jobs those who are in school...etc. and will be graduating will probably get jobs.
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The layoffs in tech continue. At least they are waiting until after the holidays. Still, there will be lots of worried dads and moms that work at MSI during this holiday season. I hope this turns around and soon.
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its too sad that right after christmas they are gonna be without a job ,i really dont know if this is a good decision as msi"s sales are pretty steady and they made a good profit ,but i guess those ceos"s need more money for their fishing trips and their golf courses
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Layoffs are always hard but it wouldn't be surprising considering the state of the economy. With profits and revenues way down companies have to find ways to be more efficient to stay in business. Thankfully my company hasn't had any widespread layoffs but they have let go several people for performance reasons. MSI may have a lot of unnecessary positions or underperforming personnel that is just can't afford to keep.
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