Webwire: HP to slash 27,000 jobs; Samsung, Apple fail to reach truce
May 24, 2012
HP will lay off around 27,000 employees – some 8% of its workforce – in a bid to cut costs by up to $3.5 billion annually. Word of the cuts came as the company reported a 31% slump in Q1 profit.
Apple CEO Tim Cook and Samsung chief Choi Gee-sung have failed to come to an agreement during court-mandated truce talks surrounding their ongoing legal war.
A US jury has sided with Google in the patent stage of Oracle's intellectual property lawsuit against Android. The jury decided that the OS does not violate any Java patents.
Apple has slammed as “fundamentally flawed” the US Department of Justice's lawsuit accusing the company of conspiring with major e-book publishers to fix prices. In a court filing, Apple also claimed the suit “sides with monopoly, rather than competition.”
Ireland's High Court has approved the plan to rescue operator Eircom from bankruptcy by slashing costs and handing control of the company to its major creditors. This could be the final nail for Hutchison Whampoa's attempt to buy out the operator.
Hong Kong's CSL Limited has awarded ZTE a contract to expand the operator's LTE network, which first launched in last year.
Vodafone India is unlikely to pursue an IPO this year due to the ongoing uncertainty over aspects of the government's telecom policy, such as spectrum pricing and refarming decisions, according to CEO Marten Pieters.
Telekom Malaysia has revealed it now has over 2 million broadband customers, including over 359,000 for the HSBB network it is developing through a public-private partnership.
Phil Marshall / Tolaga Research
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