Tech Business Roundup: Zynga Loves Vegas
Zynga (NASDAQ:ZNGA) is reported to be in talks with Wynn Resorts (NASDAQ:WYNN) regarding the possibility of an online gambling partnership. Anticipating a windfall from internet gambling (i.e., real wagering), Zynga is seeking partnerships with casino operators in several states.
The long expected layoffs at Yahoo (NASDAQ:YHOO) are now going forward. The company confirms that 2,000 employees will be terminated in a move that CEO Scott Thompson characterizes as “… an important next step toward a bold, new Yahoo – smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require.”. Further, Yahoo projects an annual savings of approximately $375 million from the layoffs, but it will concurrently take a pretax charge of $125 million to $145 million and it might well incur more related charges. The company also reveals that it’s working on “a select group of core businesses” upon which it will focus, but their identities are a secret for now.
Shares of Sony (NYSE:SNE) are down as it pursues its “four screens” strategy by naming Kunimasa Suzuki to lead its problematic mobile phone operations. The company’s personal computer and tablet units are already being overseen by Suzuki, with CEO Kazuo Hirai managing TVs, which constitute the fourth strategy.
Investing Insights: Is Google Making More Money From Apple’s iOS Than Android?
Google (NASDAQ:GOOG) is all about utilizing “technology advancements to help people”, CEO Larry Page tells Bloomberg Businessweek, in response to charges that he is distancing the company from its roots through recent decisions. Google’s original goal was to “organize the world’s information”, so this new mission marks quite a change. As for Apple’s initiatives in paying dividends, Page responded that “Apple has more cash than we do.”
Part of AT&T’s (NYSE:T) labor problem is resolved, as it reports that some 8,800 CWA workers in “Arkansas, Kansas, Missouri, Oklahoma and Texas” have agreed to a new 4-year contract. The company’s labor woes are not all over however, as an additional 30,000 union workers (or more) remain unsigned, and 15,000 in the Midwest voted Tuesday to allow a strike.
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