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SGI Announces Restructuring, Cuts 400 Jobs

Posted by ryuzaki0 on from the downsized-layoffs dept.

kerneljacabo writes "Yikes! SGI seems to be the lastest victim of the economic downturn. Today they announced an extensive 'restructuring,' which includes releasing about 10% (400) of their employess. Seems like no one is immune." SGI claims this'll save them $40M, as well as improve their performance next fiscal year.

1 of 310 comments (clear)

  1. Re:Damn, they treat their employees well... by Wyatt+Earp · · Score: 3, Redundant

    Health Insurance usually costs around 50-60% of the total HR budget in the US now.

    Toss in retirement and life insurance and other crap and things add up quick.