layoffs – News Stories About layoffs - Page 6

Jul 6, 2012 4:17 PM CDT

Best Buy Cans 650 Geek Squad Employees

Company says it's 'evolving in-home support'

(Newser) - Best Buy is axing 650 members of its Geek Squad, the group of repair specialists that travels to people's homes to fix their electronics. The retailer isn't doing away with its repair service entirely, though; those getting the boot will be Geeks who serviced appliances and televisions. "...

Times-Picayune
Lays Off Half of
Newsroom Staff

Jun 13, 2012 4:05 AM CDT

Times-Picayune Lays Off Half of Newsroom Staff

200 workers get the ax, plus 400 at sister papers

(Newser) - New Orleans' venerable Times-Picayune has laid off nearly half of its newsroom staff—and a third of its total workforce—just weeks after the paper announced it's cutting print publication to three days a week. More than 200 staffers—including 84 of 173 newsroom workers—were given notice yesterday...

Hewlett-Packard
to Cut 27K Jobs

May 23, 2012 3:32 PM CDT

Hewlett-Packard to Cut 27K Jobs

It's the company's biggest reduction in its 73-year history

(Newser) - Hewlett-Packard plans to jettison 27,000 workers as the growing popularity of smartphones, the iPad, and other mobile devices makes it tougher for the company to sell personal computers. The cuts announced today represent HP's largest payroll purge in its 73-year history. The reductions will affect about 8% of...

Apple Has
Killed a Half
Million Jobs

May 5, 2012 5:36 PM CDT

Apple Has Killed a Half Million Jobs

BusinessInsider doubts Apple's job-creation claim

(Newser) - Accused of shipping American jobs overseas , Apple reacted by saying it has actually created US jobs— some 514,000 in fact . Now BusinessInsider takes a closer look at the numbers and finds that the tech behemoth has actually eliminated 490,570 positions, nearly the same amount it has created. Here'...

Bank of America
Laying Off
Elite Bankers

May 1, 2012 9:52 AM CDT

Bank of America Laying Off Elite Bankers

Cost-cutting to hit Merrill's top earners

(Newser) - Bank of America plans to lay off 2,000 of its highest paid employees in its investment banking, commercial banking, and non-US wealth management units, sources tell the Wall Street Journal . Those operations just happen to be the ones that expanded with BofA's acquisition of Merrill Lynch, which has...

Wall Street to Slash 21K Jobs

Apr 30, 2012 7:51 AM CDT

Wall Street to Slash 21K Jobs

Downsizing binge will rival that of financial crisis

(Newser) - Wall Street's job creators aren't exactly living up to that billing. The market is soaring, and so are bank profits, but financial firms are preparing for a massive round of layoffs, analysts tell Fortune , estimating that the banks will cut nearly 21,000 jobs. That would be a...

Yahoo Lays Off 2K Workers

Apr 4, 2012 9:15 AM CDT

Yahoo Lays Off 2K Workers

Moves were expected amidst flat growth

(Newser) - Yahoo is slashing 2,000 jobs, or about 14% of its workforce, the company announced today, in a long-expected cost-cutting move. The cuts will hit every department in the company, and sources tell the Wall Street Journal that yet more cost reduction measures are in the works, as Yahoo continues...

Yahoo Poised to
Lay Off Thousands

Mar 6, 2012 1:19 AM CST

Yahoo Poised to Lay Off Thousands

New CEO Scott Thompson plans major restructuring, sources say

(Newser) - Yahoo's new CEO is planning a major shake-up of the business that's expected to involve thousands of layoffs, sources tell All Things Digital . Scott Thompson, who has been pushing for quick changes since taking charge early this year , is eyeing big cuts in Yahoo's large products organization,...

American Airlines
to Cut 13K Jobs

Feb 1, 2012 2:30 PM CST

American Airlines to Cut 13K Jobs

Airline will emerge from bankruptcy with fewer workers

(Newser) - The parent of American Airlines wants to eliminate about 13,000 jobs—15% of its workforce—as the third-biggest US airline remakes itself under bankruptcy protection. The company aims to cut labor costs by 20%, and will soon begin negotiations with its three major unions. AMR Corp. CEO Thomas W....

Jobs Site Monster
Cutting 400 ... Jobs

IRONY DEPT.

Jan 26, 2012 10:56 AM CST

Jobs Site Monster Cutting 400 ... Jobs

That's 7% of positions worldwide

(Newser) - It's a layoff announcement with a sad, ironic twist: Monster Worldwide, which runs the online recruitment site and makes job-search software, is itself slashing 400 jobs, reports Reuters . That amounts to 7% of full-time staff. "The progress we saw in the fourth quarter was much slower than what...

Citi Cutting 4,500 Jobs

Dec 7, 2011 12:43 AM CST

Citi Cutting 4,500 Jobs

Bank faces 'extremely challenging' conditions, CEO says

(Newser) - Citigroup plans to cut some 4,500 jobs—2% of its global workforce—in the coming months as it "faces an extremely challenging operating environment," CEO Vikram Pandit warns. Pandit, who has cut more than 100,000 jobs at Citi since taking charge in 2007, says regulatory changes...

Time to Occupy
Newsrooms

david carr

Oct 24, 2011 11:16 AM CDT

Time to Occupy Newsrooms

Where unfair bonuses are concerned, media firms rival Wall Street: David Carr

(Newser) - USA Today applauded Occupy Wall Street for attacking firms that give “huge bonuses” to execs who makes terrible decisions. The paper’s right—but it’s being hypocritical. Gannett, owner of USA Today, is a champion of “bonus excess despite miserable operations,” David Carr writes in...

Wall Street Will Lose 10K Jobs

SAYS REPORT

Oct 11, 2011 11:25 AM CDT

Wall Street Will Lose 10K Jobs

New York comptroller predicts blow to economy

(Newser) - It looks like a lot of Wall Street denizens will be joining the ranks of the unemployed soon, New York’s state comptroller warns in a report released today, predicting that the securities industry will shed nearly 10,000 jobs by the end of 2012. The industry has already cut...

Hallmark Launches
Unemployment
Sympathy Cards

Sep 27, 2011 3:55 PM CDT

Hallmark Launches Unemployment Sympathy Cards

Cartoon creatures tell jobless to cheer up

(Newser) - If unemployment figures don’t depress you enough, try this news: Hallmark now has a line of sympathy cards specifically directed at those who’ve lost their jobs, Mediaite reports. One features a dog suggesting that the recipient not “think of it as losing your job.” Instead, “...

NYC Axing 777 School Workers

Aug 24, 2011 11:19 AM CDT

NYC Axing 777 School Workers

Bloomberg blames unions for biggest layoff of administration

(Newser) - New York City is slashing 777 Education Department jobs, sending school aides, family workers, parent coordinators, and drivers packing due to budget cuts, reports the New York Times . Teachers, however, are exempt from the biggest single-agency layoff since Michael Bloomberg became mayor in 2002, thanks to a deal brokered between...

Layoffs Rain Down
on Wall Street

Aug 22, 2011 2:47 AM CDT

Layoffs Rain Down on Wall Street

Financial industry victim of excessive boom-bust cycle: analysts

(Newser) - Wall Street's typical boom-bust excess means that the current round of cuts sweeping the banks and financial companies is even rougher than in other industries, trashing morale and harming client relationships just when those financial institutions can least afford it, reports Reuters . So far this year, Wall Street has...

Postal Service
Wants to Cut
120K Jobs

Aug 11, 2011 5:37 PM CDT

Postal Service Wants to Cut 120K Jobs

It also aims to exit federal health, retirement plans

(Newser) - The US Postal Service is looking to cut 120,000 jobs—20% of its workforce—and pull its workers out of federal health and retirement plans, reports the Washington Post . USPS would replace those benefits plans with new ones of its own. The proposal, which would include layoffs currently banned...

Brace Yourself for Even
Worse 2nd Recession

analysis

Aug 8, 2011 8:33 AM CDT

Brace Yourself for Even Worse 2nd Recession

Could devastate a still-ailing economy, writes Catherine Rampell

(Newser) - Economists say we could be headed for a second recession—and if they’re right, it’s poised to be even more devastating than the first, writes Catherine Rampell in the New York Times . That’s because the starting point for the second dip would be our current weak economy,...

HSBC to Cut 30K Jobs

Aug 1, 2011 5:44 AM CDT

HSBC to Cut 30K Jobs

But British bank hasn't said where

(Newser) - HSBC plans to cut some 30,000 jobs by 2013, shrinking its global workforce by 10%, the company says. As part of the plan, the British bank has cut 5,000 jobs this year, the AP reports. The firm didn’t say which countries would see cuts, though a rep...

More Gloom: Layoffs
Hit 9-Month High

Jul 21, 2011 8:53 AM CDT

More Gloom: Layoffs Hit 9-Month High

And the future is looking bleak, say economists

(Newser) - Layoffs have climbed to their highest level in nearly a year—1.78 million workers were handed pink slips in May, the most since August 2010—increasing ever-present fears about the US economy. The Wall Street Journal highlights the latest casualties: Cisco Systems plans to slash 6,500 jobs; Lockheed...