In a press release yesterday, financial software company Intuit announced a realignment, and by realignment, they mean laying off seven percent of the company's workforce — mostly in finance, according to a tipster. The press release went out well before individual employees were notified of their status, which can't have helped morale with everyone thinking they might get a pink slip. The company also revised earnings expectations downward. How did Wall Street react? After a brief boost Wednesday morning, the company's share price was right back to the level before the layoff announcement. Yahoo may be using the word reorganization instead of realignment, but in the end it will mean the same thing . (Photo by Peter Kazanjy ) ...
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In a press release yesterday, financial software company Intuit announced a realignment, and by realignment, they mean laying off seven percent of the company's workforce — mostly in finance, according to a tipster. The press release went out well before individual employees were notified of their status, which can't have helped morale with everyone thinking they might get a pink slip. The company also revised earnings expectations downward. How did Wall Street react? After a brief boost Wednesday morning, the company's share price was right back to the level before the layoff announcement. Yahoo may be using the word reorganization instead of realignment, but in the end it will mean the same thing . (Photo by Peter Kazanjy ) ...