Layoffs (800 to 1500) seen in PeopleSoft merger

[UpInArms]

http://news.com.com/2100-1014_3-5071274.html

As PeopleSoft executives prepare to offer details about the company's merger with J.D. Edwards, it seems likely that one topic will be impending layoffs.

PeopleSoft CFO Kevin Parker has said that the business software maker plans to lay off between 800 and 1,300 employees as a result of the $1.8 billion acquisition, according to a story in Thursday's Wall Street Journal. Parker indicated that the layoffs would be made to reduce redundant operations between the companies, according to the report.

The combined companies, Parker said in the story, expect to have roughly 11,700 employees by the beginning of next year, down from the current total of 12,500. But based on numbers that the two companies reported for last year, the combined business would account for more than 13,200 employees before any layoffs, pushing the potential total job cuts to some 1,500.

...more...

more of that "jobloss recovery" in action!

[hang a left]

1. more good news

[DavidDvorkin]

2. So much for job-hunting in Denver

I've been hoping that local economists's claims that the local economy is improving were true. I've been job-hunting since mid-July with no luck, and those forecasts were the only glimmer of hope I could see.

But if the layoffs come from J.D. Edwards, that'll make the local situation that much worse.

Of course layoffs make the situation bad anywhere, both for those who get laid off and for those were laid off earlier and are looking for work. But as the weeks slide by and the fear increases, one tends to focus increasingly on one's personal situation.