Huawei CEO warns of job cut backs, no surprise
by Andy Flagg, Publication Date: Monday, January 21, 2019
View Count: 634, Keywords: 2019, Huawei, job cutbacks, like Microsoft, 2014, Hashtags: #2019 #Huawei #jobcutbacks #likeMicrosoft #2014
This is no surprise for large corporations having to make large turns in a global market. I recommend a 10% cut across the board to not be bias. Its the standard playbook by any CEO.
I remember when Microsoft cut 18,000 jobs. I recall a 100,000 job cut suggestion 10 years prior and that made stockholders happier to unburden the company from being staff heavy. We need developers not generic staff. The product has a strong foothold and is embedded into the global economy aside from inroads from competitors.
I was part of a 300 employee reduction (RIF) twice at Microsoft, one for IE 4 and another for Manufacturing. A reboot to the IE 4 fiasco and a removal of a non-core division that was long overdue to be removed (actually sold to KAO InfoSystems - a Japanese firm).
Even better, the Microsoft Licensing relocation was a huge win to stockholders to reduce the company's annual $600+ million tax burden paid to to King County; 35% corporate tax rate at Microsoft's $4 billion revenue of OEM licensing. By changing addresses to Reno Nevada where Nevada has no corporate taxes, it was a windfall for Microsoft and a painful punch to King County coffers. Any tax rate of 35% is ridiculous anyhow. King County did nothing to deserve it and deserved the pain in the loss.
Furthermore, the tax break moratorium by the US to Microsoft was removed after 10 years on making products in US Territory Puerto Rico by the US government paying American companies 25¢ on the dollar spent to produce product there and transit into the US. That changes the job mix for Microsoft Puerto Rico and around the world.
more to come...
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