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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: layoffs

layoffs stories: 124 news summaries

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Struggling AOL to Take 2,000 Jobs Offline

Subscriber losses prompt Time Warner to trim workforce 20 percent

Oct 15, 07 1:22 PM CDT
(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%... More »

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Time Warner • AOL • layoffs • job cuts

(Newser) - Troubled mortgage lender Countrywide announced today that it would cut up to 12,000 jobs–or some 20% of its total workforce–over the next three months. The Wall Street Journal reports that, as the subprime debacle rocks the housing market and the lending industry, Countrywide expects to issue 25%... More »

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layoffs • subprime mortgages • loans • home loans • Countrywide • subprime crisis

Layoffs Sink Stock Prices, Says Study

Forget the Seven Percent Rule; workforce morale critical to value

Apr 29, 07 8:00 AM CDT
(Newser) - Economists have long doubted the precept that cutting a company's payroll will lead to a spike in its stock price. But try telling that to CEOs, who are still trying to emulate the turnarounds achieved by G.E. and Proctor & Gamble. Now, a study reveals that markets actually have... More »

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stock market • Proctor • Citigroup • layoffs • economics • business • US economy

Citigroup Cuts 17,000 Jobs

Investors demanded downsizing; now the pressure's on raising revenue

Apr 12, 07 9:47 AM CDT
(Newser) - Citigroup will cut 17,000 jobs in an attempt to close the gap between its revenue, up 7% last year, and its expenses, up 15%. The two-year cost-cutting plan comes after shareholders demanded major changes, but analysts agree that lowering expenses is only the first step. Upping revenue is the... More »

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Citigroup • layoffs • cost cutting • business • finance

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