IN THE PAPERS
In The Papers 5 March
05-03-2009
by Sylvia Leatham
HP cuts contract staff | Trintech posts rise in revenues
The Irish Times reports that around 120 contract staff at Hewlett-Packard's Kildare facility are to lose their jobs. The company confirmed the staff were to be let go on Wednesday, but said the job losses would have happened regardless of the economic situation, as fixed-term contracts had come to an end. "[…]HP Manufacturing does work with suppliers to contract flexible workers for temporary positions to meet the changing needs of our business and demand cycles. HP confirms that 120 contract positions will have ended recently as part of normal work adjustments[…]," the company said in a statement.
The paper also says that Trintech has posted a 20 percent increase in full-year revenues of USD39.7 million for its most recent fiscal year. The Irish tech firm, which has its main offices in Dallas, Texas, generated earnings before interest, taxes, depreciation and amortisation (EBITDA) of USD1.6 million over the 12 months to the end of January 2009. Research and development spending rose 24 percent to USD6.1 million, while administrative costs were 2 percent lower at USD9.7 million.
The Irish Independent says that the Green Party is putting pressure on Finance Minister Brian Lenihan to impose a EUR0.01 tax on text messages. Green Party Deputy Leader Mary White estimates that a tax on every SMS could raise EUR1.4 billion a year for the Exchequer. The paper says White's calculations are wrong, however, and the real figure for monies raised from the tax would be around EUR81 million per year. The junior coalition partners say the plan is a "creative way" of tackling the new EUR5 billion deficit in the public finances in the supplementary Budget next month. The Irish Cellular Industry Association, which represents major mobile operators, said it opposes any tax on texting.
The paper also notes that property website Daft.ie posted pre-tax profits of EUR1.6 million to the end of 2007, up from EUR388,497 the previous year, according to accounts filed with the Companies Office.
The same paper says that Amazon.com is giving US customers the option to read books, blogs and newspapers on Apple's iPhone and iPod Touch, as noted by ENN.
The paper also notes that Microsoft chairman Bill Gates' children are forbidden from using Apple products. Gates' wife Belinda told Vogue magazine about the ban in an interview. "There are very few things that are on the banned list," she said. "But iPods and iPhones are two things we don't get for our kids."
According to the Wall Street Journal, Adobe Systems has warned that revenue in its fiscal first quarter will be shy of its forecast, falling at least 12 percent from the year-earlier period. Adobe said revenue for the quarter dropped to between USD783 million and USD786 million, compared with USD890.5 million a year ago. But the maker of Photoshop and Acrobat software said it expects to report profit in line with earlier expectations. Adobe plans to report full first-quarter results on 17 March.
The paper also notes that three MySpace executives are leaving the company to work on a start-up. Amit Kapur, chief operating officer and a rising star at the company, is to depart, along with Jim Benedetto, senior vice president of engineering, and Steve Pearman, senior vice president of product strategy. MySpace declined to comment on who will succeed the three executives.
In other news of executive departures, the paper says the circumstances behind the sudden exit of Motorola's chief financial officer have become unclear, after a regulatory filing provided an explanation that differed from Motorola's original account of the dismissal. At the time his departure was announced, in early February, Motorola said it was replacing Paul Liska because it had postponed the spin-off of its troubled mobile phone unit. But in a filing with the US Securities and Exchange Commission this week, Motorola said Liska was "involuntarily terminated for cause" on 19 February. According to a source, Liska filed a wrongful termination suit against Motorola on 20 February, although the existence of the case could not be independently verified.
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