Heard from the grapevine that they're still laying off people at the moment. Peoplesoft's tactic is to do sequential layoffs, therefore you don't hear any mass layoff announcements. But from what I heard, the numbers are really adding up over time.
Such tactic is considered unethical and certainly misguiding to the investors. Peoplesoft is basically using economic downtown as pretext for layoffs.
Here's why...The off-shore model with TaTa, Wipro, etc., is killing this part of your business also. Big companies are forcing this model to cut costs, taking jobs out of the U.S., and increasing unemployment. Unlike countries like Germany and Switzerland, the U.S. allows this to happen, for the sake of corporate profits. This model will force a lot of American's out of this business and the big corporations can deal with the off shore companies for years to come. Then, they wonder why their projects have to be re-worked and will probably end up trying to blame the off shore companies for their short sighted strategy. This industry used to be interesting and fun, now many highly experienced people are getting out...too bad.