Friday, January 16, 2009

Google to cut 100 jobs, close engineering offices, PolyOne plans to cut 370 jobs, reduce work hours, Autodesk to cut 750 jobs, sees 4Q loss, and more.

NEW YORK (AP) -- Google Inc. is closing three engineering offices and cutting 100 recruiters from its work force as the recession dampens hiring at the Internet search company. The layoffs announced Wednesday represent only a small portion of Google's global work force -- less than 1 percent of the 20,100 total. But the move is a rare blemish on the company's worker-friendly reputation.

CLEVELAND (AP) -- PolyOne Corp., which makes specialized plastics and resins for buildings and vehicles, said Thursday it is cutting 370 jobs -- or 8 percent of its work force -- and taking other steps to cope with "recent unprecedented declines in demand." PolyOne plans to reduce work schedules for another 100 to 300 employees, close its Niagara, Ontario, facility and idle some other capacity. PolyOne's other planned actions include freezing executive salaries through 2009.

SAN RAFAEL, Calif. (AP) -- Autodesk Inc., the software company that has lost its leader to Yahoo, is cutting 750 jobs, or about 10 percent of its work force to cut expenses and expects to report a loss rather than a profit for the fourth quarter. Autodesk, which makes architectural and engineering software, said it will also consolidate some facilities in addition to making the job cuts, and expects a savings of $130 million annually.

TEMPE, Ariz. (AP) -- Solar power technology company First Solar Inc. on Thursday said it struck a supply deal with Masdar Abu Dhabi Future Energy Co. to be part of the largest grid-connected photovoltaic system in the Middle East. Masdar selected First Solar to supply 5 megawatts of its thin film solar modules to the plant, which is being designed and constructed by Enviromena Power Systems, an Abu Dhabi-based solar power system integrator. Financial terms weren't disclosed. Shares of First Solar rose $9.20, or 6.9 percent, to close at $142.58 on Thursday. The 52-week share price range is between $85.28 and $317.

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