Morning Coffee Apr 29 2011

Facebook Could Add 8,000 Jobs

By joseph walker

Facebook has told city officials in Menlo Park, Calif. that its new 79-acre campus could employ 9,400 people by 2017. That's a 571% increase from the 1,400 it has today in Palo Alto.

The titan of social networking is expected to go public next year and its valuation has been rising. And while some investors are starting to sell off shares in the company because they think Facebook has already reached its peak, the company's estimates of its employee growth suggests that it views itself as just getting started.

Reportedly, the company's goal is to become the world's first trillion dollar company. That's a lot of money, and if it becomes a reality, Facebook could become the next General Electric in terms of its effect on the economy and jobs. (WSJ)

Truth About Sex Harassment (FINS)

Sexual harassment charges have dropped by nearly a quarter since 2001, but is it because we're making progress or that women are more reluctant to speak out?

Amazon Plays Hard Ball (TechFlash)

You want us to collect taxes? We're taking our jobs and going home. That's the message sent by Amazon yesterday when it said it was canceling its plan to open a distribution center in South Carolina that would have housed 1,249 jobs. South Carolina and other states are trying to make the online retail giant collect sales taxes on its goods.

Yo Zuck! (Betabeat)

An Irish web designer has caught the attention of Facebook by creating a Tumblr that recommends new features for the networking site. It's called "Yo Zuck! Implement This." Could it lead to a job?

Retire Already! (WSJ)

Cisco is offering early retirement to employees over 50 years old to help it cut down on costs. The company recently discontinued its Flip camera division, costing 550 employees their jobs.

Solar Panel Company Cuts Jobs (Denver Post)

In a further sign that green and clean tech companies are struggling, Thornton, Colo.-based Ascent Solar cut 82 jobs over the last several months, halving its workforce.

Microsoft Eclipsed by Apple (SF Chronicle)

Steve Jobs must be smiling. For the first time in 20 years Microsoft made less profit than rival Apple.

Samsung Loses Ground (WSJ)

Europe's financial instability and Japan's devastating earthquake both contributed to a 30% drop in profit for Samsung, the electronics maker said.

Mobile Maker Digby Hiring 30 (FINS)

Austin, Tex.-based Digby will hire as many as 30 new engineers and developers in the next year after receiving $8 million in new financing.

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