job cuts

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US Sees Worst Decline in Jobs Since 2003

Payrolls dropped by 63,000; recession fears intensify

(Newser) - The US lost 63,000 jobs in February, the second straight month payrolls contracted and the worst drop since 2003, catching economists off guard and fanning fears of recession anew, Bloomberg reports. Economists hoped the economy would add 23,000 jobs after declining a modest 17,000 in January, when...

Profits Slide as Dell Streamlines
Profits Slide
as Dell
Streamlines
Feb 29, 2008 6:30 AM CST

Profits Slide as Dell Streamlines

6.5% drop on consumer slump, 'slow as molasses' turnaround

(Newser) - Dell posted a 6.5% decline in profits for its fiscal fourth quarter yesterday, citing slowed consumer spending and the cost of restructuring, which included slashing thousands of jobs, the Wall Street Journal reports. The Dell results are likely to cause concern about other tech stocks—especially those that rely...

Siemens to Slash 4,000 Jobs
Siemens to Slash 4,000 Jobs
Feb 25, 2008 6:31 PM CST

Siemens to Slash 4,000 Jobs

Troubled telecom sparks fear of union anger over cuts

(Newser) - Siemens is cutting nearly 4,000 jobs and moving 3,000 workers away from its troubled telecom equipment unit, sparking fears of union outcry in Germany, the Wall Street Journal reports. Once a $30 billion annual revenue giant, the business has been trailing competitors in cheap-labor countries like China and...

Music Giant EMI Slashing 2,000 Jobs
Music Giant
EMI Slashing
2,000 Jobs
Jan 14, 2008 6:14 AM CST

Music Giant EMI Slashing 2,000 Jobs

Robbie Williams warns he'll withhold album to protest 'bean counters'

(Newser) - The new owners of record company titan EMI are cleaning house, starting with the elimination of 2,000 jobs—a third of its workforce—in a restructuring that could also include dumping artists, reports the Wall Street Journal. The layoffs come as new owner, Terra Firma Capital, tries to rejuvenate...

BBC Cuts 1,800 Jobs, Updates for Digital Age

Funding shortfall, shifting audience leads to restructuring

(Newser) - The BBC will cut 1,800 of its 18,000 jobs and integrate its TV, radio and Internet news operations to adapt to the digital age, the public broadcaster announced today. As many as 2,500 positions may be lost, but others will be added, the BBC said, to reflect...

Struggling AOL to Take 2,000 Jobs Offline

Subscriber losses prompt Time Warner to trim workforce 20 percent

(Newser) - Internet icon AOL will pink slip 2,000 workers tomorrow—1,200 from the US—as the once-dominant service provider tries to re-energize its business. In August corporate parent Time-Warner announced that AOL had lost 1.1 million paying subscribers, and reported second-quarter sales of $1.3 billion, a 38%...

Big Salary Now, No Job Later
Big Salary Now, No Job Later
Oct 10, 2007 12:17 PM CDT

Big Salary Now, No Job Later

Industry a mixed bag for in-demand computer science grads

(Newser) - Computer science majors face rosy job prospects after graduation but a dimmer long-term career outlook. In 2007 the average starting salary offer in the field rose to a seven-year peak of $53,051, the Chronicle of Higher Education reports. But young grads should enjoy the money while they can: Layoffs...

$4B Crunch Threatens BBC Jobs
$4B Crunch Threatens BBC Jobs
Oct 10, 2007 4:37 AM CDT

$4B Crunch Threatens BBC Jobs

(Newser) - A massive funding shortfall at the British Broadcasting Corporation could trigger unprecedented job cuts, reports the Independent. As many as 2,800 people—about 12% of the BBC's labor force—could lose their jobs. Officials at the BBC, which is financed by a $270 license fee paid by viewers, project...

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