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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: layoffs

layoffs stories: 124 news summaries

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 Salmonella 
 Scare Rattles 
 Peanut County 

Farmers report fewer contracts

Feb 8, 09 5:50 PM CST
(Newser) - A Georgia county that boasts a big peanut in its courthouse square is getting crunched by the salmonella outbreak, the Los Angeles Times reports. In Blakely-Early County, Ga.—the self-proclaimed "Peanut Capital of the World"—peanut plant workers are losing jobs and farmers are getting fewer contracts.... More »

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layoffs • Georgia • recession • salmonella • outbreak • fuel costs • economy • peanut • farmers

 It's Time for a Backup Plan 

Stay calm, be optimistic, or just go back to school

Feb 8, 09 2:50 PM CST
(Newser) - If you've gotten the ax or fear you're next, it’s time to prepare yourself without panicking, NPR reports. The American Psychological Association advises people to stay calm and make a financial plan to cope with tough times. "It's very hard, but try to stay focused in the present,... More »

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layoffs • recession • financial planning • unemployment • financial crisis • success

RNC Chief Sacks Staff;
Feds Probe His 2006 Race

Steele accused of misusing 2006 campaign funds

Feb 7, 09 10:52 AM CST
(Newser) - New RNC chief Michael Steele is quickly making headlines, but not exactly of the good-news sort. The Post reports that he's laid off practically all of the RNC staff, a not-too-startling development given the GOP's big election losses, but one that forces him to start from scratch as the party... More »

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RNC • layoffs • campaign finance • political scandal • Michael Steele • Republican Party Chairman

(Newser) - Nonfarm payrolls plunged 598,000 in January, the Labor Department announced today, bringing the total job losses to 3.6 million since the recession began in December 2007. The drop was significantly worse than analysts anticipated, and the worst since December 1974, the Wall Street Journal reports. The jobless... More »

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layoffs • recession • unemployment • payrolls • jobless claims • economy

 Jobless Claims 
 Set Another Record 

626,000 claims filed last week, far more than expected

Feb 5, 09 8:19 AM CST
(AP) - New jobless claims jumped far more than expected last week in an already dismal labor market, and there's no relief in sight for workers as mass layoffs persist. The Labor Department reports that the number of laid-off workers seeking jobless benefits rose last week to 626,000 from the previous... More »

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layoffs • recession • unemployment • job market • unemployment benefits • financial crisis • recession depression

 Panasonic Cuts 15,000 Jobs 

Company cuts 15,000 jobs, closes 27 plants as it restructures

Feb 4, 09 6:47 AM CST
(Newser) - A strong yen and softening consumer demand is prompting Panasonic to cut 15,000 jobs, close 27 plants, and restructure as it struggles to withstand burgeoning losses, reports the Wall Street Journal. The electronics company last quarter posted a $707.2 million net loss, and experts expect the downward trend... More »

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layoffs • Sony • yen • Panasonic • Hitachi • Sanyo

 Macy's Slashes 7K Jobs 

Job cuts, dividend reduction could save retailer $410M

Feb 2, 09 12:50 PM CST
(AP) - Macy's said today it will cut 7,000 jobs, or 4% of its work force, and slash its dividend as it looks to lower expenses. The Cincinnati-based retailer says the reduction includes positions in offices, stores, and other locations. The cuts will include some unfilled jobs. Macy's anticipates the reductions... More »

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layoffs • Macy's • unemployment • dividend • financial crisis

 Laid-Off? 
 Be Your 
 Own Boss 

Interest in small business is booming as unemployment rises

Feb 1, 09 2:00 PM CST
(Newser) - The pink slips are flowing, but that’s not halting thousands from using severance packages and savings to found their own businesses, the Christian Science Monitor reports. The new gigs often bear little resemblance to past ones—one Wall Street exec now walks dogs—and differ from the economy at... More »

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entrepreneurs • layoffs • unemployment • small business • economic stimulus package • big business • Obama administration • financial crisis • President Obama • self-employment

(Newser) - Amid growing gloom in the newspaper business, the Los Angeles Times plans to lay off 300 workers and shelve its local news section, LA Observed reports. Foreign and national news will be downplayed to fit local stories into the front section, the publisher said in a memo today. Seventy newsroom... More »

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Sam Zell • Tribune Company • layoffs • Los Angeles Times • newspaper industry

MARKETS

 Dow Off 149, 
 Down 8.8% for Month 

GDP report ends month of layoffs, losses

Jan 30, 09 3:18 PM CST
(Newser) - Stocks extended losses today off the news of a 3.8% decline in US GDP for the fourth quarter, ending a turbulent month, MarketWatch reports. The report capped a week of widespread layoffs and poor earnings at major US firms. Amazon.com was a rare exception, up 18% on strong... More »

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layoffs • Dow Jones • earnings reports • Nasdaq • GDP • S&P 500 • Amazon.com • Amazon

 NEC to Lay Off 20,000 

Japanese electronics giant hammered by falling demand, stronger yen

Jan 30, 09 6:03 AM CST
(Newser) - The Japanese electronics giant NEC announced today that it will cut 20,000 jobs worldwide after posting a fourth-quarter loss of $1.45 billion, reports the Wall Street Journal. NEC's losses ballooned as demand fell for its semiconductors and chips, and the strength of the yen further hurt its bottom... More »

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Japan • layoffs • electronics • quarterly reports • NEC Corporation • semiconductors

(AP) - Starbucks Corp. plans to slash nearly 7,000 more jobs during a new round of store closures and other cuts, the company said as it reported that its profit dropped by more than two-thirds in its fiscal first quarter. The coffee chain plans to close 300 underperforming stores around the... More »

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Starbucks • layoffs • coffee • corporate earnings

 Home Depot Hacks 7K Jobs 

Home-improvement giant having rough time in slow housing market

Jan 26, 09 8:36 AM CST
(AP) - Home Depot says it's cutting 7,000 jobs and closing its smaller Expo chain as the recession continues to batter the nation's housing market. The nation's largest home-improvement retailer says the cuts announced this morning will affect about 2% of its workforce. Its core Home Depot stores won't be affected. More »

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layoffs • housing market • Home Depot • economy • job • financial crisis • economic downturn • Expo Design Centers • YardBIRDS • recession depression

Huge Losses at ING Bring
New CEO, 7K Job Cuts

Dutch banking giant posts $2.6B in quarterly loss, against asks government for help

Jan 26, 09 8:32 AM CST
(Newser) - ING posted a $2.6 billion quarterly loss today, leading the banking giant to replace its CEO, fire 7,000 employees, and seek new guarantees from the Dutch government. The request for state aid is ING’s second in three months, and the bank said it might even need a... More »

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layoffs • subprime mortgages • Netherlands • Alt A loans • Dutch government • bailout • ING

 Sprint Nextel to Cut 8K Jobs 

3rd-largest wireless outfit has lost millions of subscribers

Jan 26, 09 8:13 AM CST
(AP) - Sprint Nextel is eliminating about 8,000 positions in the first quarter as it seeks to cut annual costs by $1.2 billion. The third-largest US wireless provider said it will complete the layoffs, about 14% of its 56,000 employees, largely by March 31. About 850 of the reductions... More »

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cell phones • layoffs • Sprint Nextel • telecommunications • job cuts • wireless industry • Dan Hesse

 Caterpillar to Slash 20K Jobs 

Don't they know Obama wants to heap money on infrastructure?

Jan 26, 09 7:50 AM CST
(Newser) - Caterpillar Inc will cut 20,000 jobs—or 18% of its workforce—after posting a 32% drop in fourth-quarter income, the Wall Street Journal reports. “We were whipsawed in the fourth quarter,” said CEO Jim Owens. “Key industries were hit by a rapidly deteriorating global economy.”... More »

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layoffs • construction • earnings reports • unemployment • Caterpillar • corporate earnings • infrastructure • job cuts • financial crisis

(Newser) - Starbucks is planning to slash another 1,000 jobs by early next month, a source tells the Seattle Post-Intelligencer. About a third of Starbucks headquarters will get the ax, along with field workers and district managers, but not baristas. The Seattle-based company has cut more than 2,000 jobs and... More »

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Starbucks • layoffs

 Microsoft to Ax 5K Jobs 


Jan 22, 09 9:20 AM CST
(Newser) - Microsoft surprised the street today by releasing its earnings early, and they weren’t pretty. The software giant’s revenues inched up only 2%, below earlier guidance, and its net income dropped 11%. More alarming, the company said it was slashing 5,000 jobs, starting with 1,400 today, which... More »

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Microsoft • layoffs • earnings reports • corporate earnings • job cuts

 Warner Bros. Slashing
10% of Workforce

600 workers to be laid off; 300 jobs to be outsourced

Jan 20, 09 8:19 PM CST
(Newser) - Even the Dark Knight is no match for this economy. Warner Bros. is cutting 800 jobs across all levels of the firm, shrinking its workforce by 10%, the Wall Street Journal reports. That means 600 employees will have to leave, with 300 departing in the next few weeks. The rest... More »

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layoffs • outsourcing • Warner Brothers • film studio • downturn

Firms Choose
Pay Cuts
Over Layoffs

Some deem sharing the pain preferable to axing workers

Jan 15, 09 10:03 AM CST
(Newser) - Employers increasingly are opting to cut salaries rather than staff as they tighten budgets, a plan that helps keep them ready to respond to an economic rebound but could hurt morale, reports the Los Angeles Times. Companies also are looking to trim operating costs by eliminating bonuses, requiring employees to... More »

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layoffs • recession • FedEx • Gannett • financial crisis • unpaid leave

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