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Pack your desks: Investors could not get rid of Autodesk stocks fast enough on Wednesday, as they shipped the shares of San Rafael-based design automation software company to nearly 16 percent percent to close at $ 109.34.
What led to the Autodesk recall was that the company said on Tuesday night that it would cut 1,150 jobs, or about 13 percent of its workforce of approximately 9,000 employees. Such job cuts can often be seen as a sign of problems in a company when it tries to refocus on new priorities.
Autodesk said in a statement that the job cuts were part of a restructuring of the company to focus more on software subscription and services based on which customers pay regular and recurring fees for their products. This type of movement has become common in the business software industry as many companies turn to cloud-based offerings to reduce costs for their customers and at the same time ensure a continuous flow of revenue.
Much of Autodesk's software is used by architectural firms, and in the construction and manufacturing industries. The company said its restructuring would help "optimize the organization and rebalance resources to better align with the company's priorities."
Is it the iFix ?: Apple released a security update to its MacOS operating system on Wednesday to fix a major security problem that could have left the computers of people exposed to external hackers. The flaw, which affected Apple's new High Sierra operating system, would have allowed anyone to gain control of a Mac's administrator by entering "root" as the user name, without entering a pbadword, and then clicking the start button session until you are allowed to access the computer. Apple said it was sending the correction to High Sierra users and that the matter would be resolved Wednesday afternoon.
Oh. Maybe that's why: When Android founder Andy Rubin left Google in 2014, it was a blow to the company. At that time, Google's CEO, Larry Page, was magnanimous in saying that he wanted Rubin, "all the best with what's coming." One of the things that turned out to be "next" for Rubin was the smartphone maker Essential. Well, now Rubin is on Essential's license because of what the company called "personal matters." And, if a new report is created, Rubin left Google three years ago due to an allegedly inappropriate relationship with a subordinate of the company. A spokesman for Rubin denied that Rubin did something wrong.
Quote of the day: "The quality of the tenant was a factor, but it was mainly the attributes of the building". Donald Stephens, executive director and president of DR Stephens, referring to his company paying $ 52 million to acquire the former Infoblox headquarters in Santa Clara.
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