layoffs

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Watch for These Layoff Signs
 Watch for These Layoff Signs 
Oct 15, 2008 6:45 PM CDT

Watch for These Layoff Signs

Knowing it's coming could help you prepare

(Newser) - More than 750,000 American jobs vanished this year, and more cuts are likely amid the current crisis. MarketWatch offers red flags that a pink slip is coming:
  • Colleagues get fired: You are not immune, even if your boss says so.
  • Training budgets dwindle: They are "not sure if
...

Economic Crisis Is Too Advanced for Rescue

Layoffs just part of the problem, as states, consumers cut back

(Newser) - September's spike in US unemployment numbers was the latest indication of a faltering economy, but the country's problems certainly aren't limited to layoffs. Unfortunately, the $700 billion bailout plan won't make things much better, analysts tell the Los Angeles Times. From consumer activity to state governments, the economic signs are...

Lehman to Lay Off Another 1,500
 Lehman to Lay Off Another 1,500
Aug 29, 2008 2:21 AM CDT

Lehman to Lay Off Another 1,500

Wall Street quakes as ax falls again and again

(Newser) - Lehman Brothers is about to lay off another 1,500 employees—6% of its workforce—in its fourth round of cuts this year, an insider told the New York Times. The struggling financial services giant has already shed over 6,000 jobs since last summer. A total of some 101,...

Jobless Claims Hit 6-Year High
 Jobless Claims Hit 6-Year High
Economy
Aug 7, 2008 11:00 AM CDT

Jobless Claims Hit 6-Year High

Mounting layoffs lead to surprise jump in claims, report says

(Newser) - The number of newly laid off Americans signing up for jobless benefits last week unexpectedly climbed to its highest point in more than 6 years as the faltering US economy forced companies to cut back. The Labor Department reported today that new applications filed for unemployment rose by 7,000...

Workers Losing Hours as Economy Tightens

Jobless figures don't reflect part-time jump

(Newser) - US joblessness stands at a moderate 5.5%, but more than 3.7 million workers have seen their hours cut from full-time to part-time over the last year, shrinking their paychecks even as gas and food prices soar, reports the New York Times. That's the highest figure in the half-century...

LA Times Insider Launches Anti-Zell Blog

Anonymous journo bashes paper's owner as heads keep rolling

(Newser) - Heads continue to roll at the Tribune Company, but one staffer is aiming to prove the pen is mightier than Sam Zell's ax, reports the New York Times, with new blog TellZell.com. The site is airing the gripes of Tribune's disgruntled journalists, and is finding plenty of fodder—from...

GM May Cut More Jobs, Brands
 GM May Cut More
 Jobs, Brands 
Jul 7, 2008 9:01 AM CDT

GM May Cut More Jobs, Brands

Only Cadillac, Chevy deemed safe as automaker struggles to return to profitability

(Newser) - GM is considering slashing thousands of white collar jobs, while simultaneously selling off or discontinuing even more brands, the Wall Street Journal reports, in a furious attempt to return to profitability. For years GM has resisted shrinking its large stable of brands, even as rivals Ford and Chrysler committed to...

American to Cut 7K Jobs
 American to Cut 7K Jobs 
Jul 3, 2008 10:56 AM CDT

American to Cut 7K Jobs

Massive layoffs planned in response to rising fuel costs

(Newser) - American Airlines plans to cut as many as 900 flight attendants from its ranks next month as part of nearly 7,000 expected layoffs this year, reports the Dallas Morning News. The job cuts, intended to counter rising fuel expenses, mirror an intended 8% reduction in the airline's worldwide flights....

Starbucks to Close 600 Stores Across US

Most of the shuttering shops opened after October 2005

(Newser) - Starbucks will close hundreds of stores across the US in its newest attempt to boost deflated profits, the Seattle Times reports. In the next nine months, about 600 stores are getting the ax, most of which opened after October 2005. About 12,000 employees will lose their jobs, but the...

Battered Citigroup Plans Major Layoffs

Firm will cut 10% of its investment-banking group

(Newser) - After being in the red for two quarters, Citigroup will this week hand out pink slips in its investment-banking division, looking to sack 10% of the group’s 65,000 employees. The move, which would eliminate entire trading desks worldwide, is unusually severe, the Wall Street Journal says. CEO Vikram...

Continental Hacks 3K Jobs, 16% of Flights

Carrier is the latest to scale back operations citing fuel costs

(Newser) - Continental Airlines today became the latest US carrier to slash its workforce and trim flights in the face of profit-busting fuel costs and an industry-wide slowdown, the Wall Street Journal reports today. The airline will cut its workforce by 3,000 jobs, scale back US departures by 16%, and aggressively...

Warner Bros. Closes 2 Indie Divisions

Shakeup was expected; 70 jobs will be cut

(Newser) - Warner Bros. announced yesterday that it is closing both its indie arms, Warner Independent Pictures and Picturehouse. Speculation had the studio merging the indie and art-house divisions, but the studio opted for even more cost-cutting, the LA Times reports. More than 70 employees will lose their jobs in the shakeup.

UBS Cuts 5,500 Jobs, Sells Off $15B in Assets

Swiss bank prepares to lay off over 2,000 investment bankers

(Newser) - UBS will cut 5,500 jobs, slightly fewer than expected, by the middle of 2009 as part of a major restructuring effort, the troubled Swiss bank said today in announcing an $11-billion first-quarter loss. Some 2,600 of the layoffs will be among investment bankers, mostly in London and New...

UBS to Lay Off 8,000, Add $11.4B to Writedowns

Swiss bank likely to announce cutbacks with earnings

(Newser) - Swiss banking giant UBS will lay off some 10% of its 83,000 workforce and scale back its investment banking arm in an attempt to reassure shareholders that it's taking actions to curtail losses associated with the subprime debacle, reports Bloomberg. Switzerland's largest bank says it will detail a further...

Bankrupt, Linens 'n Things Will Fold 120 Stores

Retailer files for Chapter 11 as consumer spending falls

(Newser) - Linens 'n Things filed for bankruptcy protection today, MarketWatch reports, and plans to close 120 stores nationwide as other operations continue. "The significant deterioration in the mortgage, housing and credit markets and the resulting impact on the retail marketplace, particularly the home sector, has overwhelmed the operating and merchandising...

New Hires at Bear Stearns Axed Before They Start

Bank's collapse sends college grads job-hunting in a tough market

(Newser) - Hundreds of college grads who thought they had landed dream positions with Bear Stearns were canned before their first day on the job, the Wall Street Journal reports. As the giant bank began to implode, the students were at first assured their new jobs were safe—but then were sent...

Streamlining AT&T Plans 4,600 Layoffs

TV, wireless hires will offset white-collar landline losses

(Newser) - As it adjusts its business model to lowered demand for landlines, AT&T will lay off 4,600 employees, the Wall Street Journal reports. The company plans to create about the same number of new wireless, broadband, and TV jobs, a trade-off that will create savings through dropping more senior,...

Strike Keeps Le Monde Off Newsstands

French paper's staff, management square off over job cuts, debt

(Newser) - Le Monde was absent from French streets today for the first time in more than 30 years as staff went on strike at the debt-ridden newspaper. In the ongoing battle over the future of the prestigious evening title, which saw the editor-in-chief pushed out, management is now trying to eliminate...

Moto Slashes Workforce
Moto Slashes Workforce
Apr 4, 2008 8:35 AM CDT

Moto Slashes Workforce

Cell phone maker cuts more jobs as it readies spin off; takes $104M loss

(Newser) - Troubled cell phone maker Motorola is laying off another 2,600 workers and will take a first quarter pretax charge of some $104 million to cover severance costs, reports the AP. Moto has cut its workforce by more than 10,000 workers since January 2007, as the company's . mobile phone...

Google Trims 300 Jobs at DoubleClick

First major layoff in search giant's history follows merger

(Newser) - Some 300 DoubleClick employees, who briefly enjoyed a taste of Google culture after the ad agency was acquired in March, are facing layoffs as the search giant merges the two operations, reports the New York Times. It’s the first major layoff in Google’s history and trims DoubleClick’s...

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