It’s earnings season around the world. Many companies have beat analysts’ estimates and sometimes even their own expectations.
A few of those companies that are now happy with their earnings have cut jobs to do it. Laying off employees can obviously slash expenses and generate more profit (although Verizon recently put the blame on its quarterly loss on the cost of firing 11,000 people).
We looked at businesses that had beat analysts’ estimates in their last quarterly results and checked if some of them had cut jobs in the past 12 months.
Find out for whom letting go personnel hasn’t been a disadvantage.
Layoffs: 3,700 job cuts by 2013 announced in July 2009; most them were to be completed by the end of 2010
Q2 results (ending June 2010): $1.53 billion net profit, up from $445 million a year earlier
Analysts' estimates: $1.28 billion net profit
Latest quarterly results: 51 cents a share, beating analysts' estimates
Analysts' estimates: 46 cents a share