- Jay DeFoore had been the first one to write in Getty Tightens Its Belt in September that
"employees have been told to watch their expense accounts, and rumors
abound that layoffs are coming, with 10 percent cuts being bandied
about." This number has been widely reported on the internet, expecially from those heroes who infrequently or never link back to their source of information.
Then, as to no surprise and besides the official email of Jonathan Klein last week, shortly before the recent PACA conference non-anonymous and also unsolicited anonymous "insider" emails flew around the world with the hilarious message that "major layoffs in all departments" are coming.
Officially Getty had about 1,823 employees in 2005. After the consolidation of the last years, companies like Getty go naturally through good and less good times, regardless of the micropayment phenomenon or not. 28 layoffs -- if the number remains so low until the end of the year -- this is about 1.5 percent. Although that´s, and there is no question about it, very sad for those forced to go, regarding the bigger picture: So what? Where´s the story, you heroes? "The real lesson here is that these cuts are nothing if not routine from public companies when stock prices go into decline. With revenues for 2006 expected to top $800 million, Getty is by far the industry leader, and until this year had been spot-on with hitting its earnings tagets" (Jay DeFoore recently). Or, as Getty has put it so eloquently, "there is a small reduction in headcount in some areas, and additional new hires and resources in others". However, "Getty said it will take a $9 million charge in the fourth quarter to pay for job cuts and office consolidation" (Reuters), whereas the Seattle Post Intelligencer writes "Getty plans to spend $5 million in the fourth quarter on employee-related restructuring costs, according to its updated business outlook".
- Then, after eight years, a CFO of a publicly traded company decides to leave ("EVP and CFO Christopher J. Baudouin submitted his resignation to Jupiter"), and the kind of "Uhm?" and "What´s happening?" terror starts again, just as if the real reason would be that Jupitermedia has decided to sell the Jupiterimages division to Corbis and to concentrate only on the remaining Jupiterweb division. As long as these news are not on CNN: So what? Where´s the story?