According to Reuters, which interviewed special assistant to the chairman and group spokesman Louis Woo, Foxconn was considering a reduction in its workforce of 1.3 million people "We've basically stabilized [our workforce] in the last three years," Woo said, according to Reuters, which also reported he answered "yes" when asked whether the company plans to reduce overall headcount.
We at the Fawcett Society are particularly concerned that new or expectant mothers will be "picked off" as unscrupulous employers look for a reduction in their workforce.
He is often described as a foreman, which he once was, but he says that, partly because of an aversion to paperwork, he didn't try to reclaim that job after it evaporated during a reduction in the workforce.
Sowers says a reduction in the workforce like Citigroup's could cost between $250,000 and $2 million, depending on how many consultants are brought on board.
But the drop is largely attributed to a reduction in the workforce of about 300,000.
Why such a major reduction in workforce, and why now?
The council is looking to reorganise and reduce the cost and complexity of management as well as a phased reduction in workforce numbers.
A company spokesperson added, "The reduction in workforce is one part of a series of decisions to reduce cost as we continue to invest in areas to position Akamai for long-term success".
But according to the report's lead author Glenn Crocker, Head of Biotechnology in Ernst & Young's Health Science Group, that 6% reduction in workforce is a smaller drop than he would have expected, given the overall economic situation.
The "reduction in workforce" telegraphed by HP a few weeks ago appears to finally be taking place, according to a source inside the company.
