wpostServer: http://css.washingtonpost.com/wpost
Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery 04.17.14
    When a company has legal problems, what does it mean for investors?  What does Yelp’s case before the Virginia State Supreme Court mean for Google and TripAdvisor?  And what does Adam Carolla’s legal battle mean for the future of the MarketFoolery podcast?  We tackle those questions and the exciting world of space law with Assistant General Counsel Chris Harris.
  • MarketFoolery: 04.16.2014
    We analyze the world of digital media, including Pandora, iTunes Radio, Spotify with Audiam CEO Jeff Price.  Plus, Jeff discusses how Netflix, Amazon, and many more are fighting in the “Battle for the Living Room”.
  • MarketFoolery 04.15.14
    We discuss the energy industry landscape, including Big Oil, natural gas, solar stocks and more with analyst Taylor Muckerman.  Plus we look at Chesapeake Energy one year after Aubrey McClendon left the CEO office.    
Capital Business
Posted at 10:05 AM ET, 12/04/2012

SAIC reducing workforce by 700

McLean-based Science Applications International Corp. said Tuesday it will cut 700 employees — about half of whom are locally based — as part of its annual review process.

The company said in a statement that the reductions will cut across its ranks and locations “but limit the impact on those who are delivering directly to our customers.” SAIC said it will provide training and coaching to those affected.

“These decisions were not easily made but we firmly believe that they are absolutely necessary in order for us to remain competitive,” John Jumper, SAIC’s chief executive, wrote in an e-mail to the company’s employees.

SAIC previously had 40,000 full-time employees, about 15,000 of whom are based locally. A company spokeswoman said about 330 local employees will be cut.

The move comes as SAIC has been laying the groundwork to split into two businesses: a $4 billion-a-year government services company specializing in areas like systems engineering and program office support, and a $7 billion-a-year technology business with a focus in areas like intelligence and cybersecurity.

SAIC announced last month that Jumper will head the larger of the two businesses. Tony Moraco, who heads SAIC’s intelligence, surveillance and reconnaissance group, will lead the smaller company.

The split is expected to be complete by the end of next year.

By  |  10:05 AM ET, 12/04/2012

 
Read what others are saying
     

    © 2011 The Washington Post Company