SanDisk cuts jobs to counter falling prices
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SanDisk Corp.  said on Friday it will cut 10 percent of its work force and trim executive salaries to compensate for a recent collapse in prices for memory chips, sending its shares down 5 percent.
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_ Eastman Kodak Co. announced Tuesday it will cut nearly 900 jobs at three of its manufacturing facilities in Europe as part of the company&#39;s shift from traditional film production to digital photography.
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NEW YORK -- Eastman Kodak Co. said Thursday it is cutting as many as 3,000 more jobs as it completes a historic, four-year transformation this fall into a digital-imaging company focused on consumer photography and commercial printing.
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Electronic Data Systems plans to cut 15,000 to 20,000 jobs over the next two years, as the struggling technology services giant tries to slash costs and regain its footing.
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SanDisk Corporation (NASDAQ:SNDK) plans to announce its third quarter 2006 financial results after the market close on Thursday, October 19, 2006.    A conference call to discuss the Company's results is scheduled for Thursday, October 19, 2006 at 2:00 p.m. Pacific Time.
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Trade organization attributes dramatic price drops, including a 35 percent decline in flash memory, to glut of competitors.
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Hitachi said it is phasing out its small  hard disk drive business as competition heats up with flash  memory chips, and that the electronics maker will focus  resources on larger-sized 2.5- and 3.5-inch drives.
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In an announcement strategically timed to lessen its impact, SanDisk admits that it must cut prices to stay competitive in a tougher NAND memory chip market. Layoffs and salary cuts for executives are also planned.
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(InfoWorld) - As part of a four-year turnaround plan, Eastman KodakÂ expects to cut 5,000 to 7,000 jobs by the end of 2007 in an effort to reduce its administrative overhead and boost profits from digital photography instead of standard film, the company told investors Thursday. Kodak leaders had already cut 1,200 jobs during the fourth quarter of 2006, bringing the total jobs lost to 23,400 since the company first announced its restructuring plan in January 2004. By the end of this year, that total could reach 30,000, nearly half of the company's size in 2003. The company has already cut excess jobs from its manufacturing division, and will trim the remaining jobs from its selling, general and administrative unit, Kodak Chief Financial Officer Frank Sklarsky said in a release. The move will reduce administrative overhead from Kodak's current level of 18 percent of revenue to just 14 percent to 15 percent. The company has also slashed costs by announcing Jan. 10 it would sell its 8,100-person medical imaging and health-care IT division to the Canadian firm OnexÂ for $2.55 billion. That deal is expected to close in the first half of 2007. On the revenue side of its books, Kodak hopes to boost income through new products like its consumer inkjet printers, image sensors and picture kiosks, said CEO Antonio Perez. The company will also draw $250 million in revenue by licensing its intellectual-property patents this year, he said. KodakÂ introduced a line of inkjet printersÂ this week to compete with Hewlett-Packard and Xerox. Kodak will target consumers and home-office users by selling replacement ink cartridges at about half the price of its competitors -- just $9.99 for black ink and $14.99 for five-color ink. Likewise, Kodak will sell a range of printers priced below $200. Also on Thursday, Kodak announced it would partner with MozillaÂ to improve Kodak's online photo gallery by allowing users to access it from Mozilla's Firefox Web browser. The companies hope to generate more income from the 83 million U.S. users who are predicted to upload, share and print their photographs by 2010. Users can now download the new tool. Â
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SanDisk Corp , a maker of  flash memory and consumer electronics, has driven growth in  sales outside the United State in recent years, insulating it  somewhat from any potential downturn in the U.S. economy, its  chief executive said on Monday.
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SanDisk expands its business by hitting the books.
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The electronics giant finally cuts its price, despite word to the contrary last week.
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Several companies lost access to their own files when Amazon.com Inc.'s pay-as-you-go data storage system went down Friday morning.
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Hillenbrand Industries Inc. said Thursday it is cutting 230 jobs to lower costs. The company also cut its earnings forecast for the year ending this month.
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The record company's response to dwindling CD sales is cutting up to 2,000 jobs worldwide in an attempt to save $400 million
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(InfoWorld) - A recent financial filing from Sandisk in Ireland illustrates the sometimes controversial nature of the corporate tax regime in the country. While Sandisk has joined scores of other companies attracted to Ireland for its low corporate tax rate, the company appears to represent an extreme example of benefiting from the tax environment. In a financial statement filed in Ireland earlier this month, Sandisk Manufacturing, the Irish subsidiary of Sandisk Corp., reported four employees and revenue of $955 million between the period when the company first opened up in Ireland, April 2005, and the end of 2005. Sandisk Corp. had 1,083 employees at the end of 2005 and reported revenue for the year of $2.3 billion. Other U.S. technology companies with offices in Ireland, such as Google and Microsoft, have also had their Irish financial reports scrutinized for generating revenues that appear out of proportion to the number of employees in the country. Google and Microsoft each employ hundreds of workers in the country. "The fact that [Sandisk has] only four people and a billion dollars makes them stick out a bit more," said John Gilsenan, an independent analyst who sometimes consults for IDC Ireland. In the Sandisk example, just four employees in Ireland out of 1,083 around the world appeared to generate nearly half of the company's revenue. The tax regime benefits the Irish government but could become a sore point for other countries. "I certainly don't think that there's any impetus from the Irish government for this to change," said Gilsenan. While the Irish government is likely pleased to earn the tax from companies like Sandisk, the governments where the companies are based might start looking for ways to ensure they can collect their fair share of taxes from the companies, he said. Ireland's low corporate tax rate dates back to the 1950s and its current 12.5 percent rate was set in the 1990s. The tax rate, far lower than in most other countries, has attracted many companies to open operations in Ireland, spurring the current economic boom in the country. In April last year, Sandisk announced plans to transfer its Europe, Middle East and Africa headquarters to Dublin and employ 50 people by the end of this year. In a statement announcing the move, it said it already had 12 people working in Dublin managing supply chain and sales support functions for Sandisk. A Sandisk spokesperson was not available to comment on its financial statement or Dublin operations.
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Eastman Kodak Co., the world&#39;s biggest photographic company, said it will cut almost 900 jobs as it reorganizes its European business to concentrate on the digital market as demand for traditional film wanes.