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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:Erm by crow · · Score: 0, Troll

    Yes, the job postings are likely blatant fakes. Many job postings, especially those with bizarre requirements, are for positions already filled by people with H1-B visas, and they have to advertise the positions to demonstrate that there are no U.S. citizens that can fill them, so they are justified in renewing the visas.

    Also, the company is probably trying to get rid of the chaff. But the primary reason is probably as stated to save money, and they can do that with the least pain by laying off the least productive people ("chaff").