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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: cost cutting

cost cutting stories: 17 news summaries

Johnson & Johnson to
Slash 8,700 Jobs

Company says moves will save up to $900M annually

Nov 3, 09 8:56 AM CST
(AP) - Johnson & Johnson will cut 7% of its workforce—some 8,400 jobs—and make other other restructuring moves in order to save up to $900 million next year. The New Brunswick, NJ, company says it will also simplify its business structure in order to achieve savings that will add... More »

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cost cutting • Johnson and Johnson • restructuring • job cuts

 10 Dirty Restaurant Tricks 

Eateries cut corners and assume you won't notice

Sep 23, 09 12:09 PM CDT
(Newser) - Restaurants are known to cut a few corners for the sake of their bottom lines. Slashfood sheds some light on dirty little industry secrets, including:
  • Using cabbage instead of seaweed: An ex-maître d’ at an upscale Chinese joint says the chef assumed his celebrity clientele wouldn’
... More »

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food • cost cutting • restaurant • restaurant industry

Analysis

CBO Is Usually Wrong on Health Reform Numbers


Aug 26, 09 9:53 AM CDT
(Newser) - The Congressional Budget Office is a much-respected institution, and its integrity is beyond question, but it’s got a really lousy record when it comes to estimating the effects of health care reform, writes researcher Jon Gabel in the New York Times. It has drastically underestimated savings from each... More »

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health care • cost cutting • Medicare • Congressional Budget Office • health care reform

 Holdouts, Converts 
 Swelter Through  
 Recession Without AC 

Unit shipments down as Americans find other ways to keep cool

Jul 23, 09 10:18 AM CDT
(Newser) - This summer, some Americans are more concerned about their wallets than their comfort—so they’re turning off the air conditioning and putting up with the heat, the New York Times reports. Window air conditioner shipments from manufacturers to distributors dropped 39% the first half of the year versus the... More »

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cost cutting • recession • heat • summer • air conditioning • financial crisis

(Newser) - Already-downsized companies seeking to cut costs further will likely increase temporary layoffs this summer, hoping the season will ease the pain of a missed paycheck, Fortune reports. A recent poll found that 44% of US companies are considering or have already implemented furloughs. But some institutions and employees are getting... More »

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layoffs • cost cutting • recession • vacation • furlough • furcation

UPDATED

 GM to Close 1,100 Dealerships  


May 15, 09 9:20 AM CDT
(Newser) - GM has sent termination notices to 1,100 of its 6,000 US dealerships as part of its plan to eventually shutter 42% of its retail network, CNN reports. The dealers have been notified that their contracts won't be extended next October, and some will shutter this year, a GM... More »

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cost cutting • General Motors • auto industry • dealership • financial crisis

New Owner's Cost Cuts Change Flavor at Budweiser

Jobs, perks, executive suites disappear

Apr 29, 09 7:50 AM CDT
(Newser) - Things haven't tasted the same since InBev's takeover—and makeover—of Anheuser-Busch, the Wall Street Journal reports. Cost-cutting has become paramount at a firm once known for its cushy treatment of employees. Jobs have been sliced, executive suites knocked down, and benefits like free baseball tickets made rare. Anheuser-Busch Inbev... More »

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cost cutting • Budweiser • benefits • Anheuser-Busch • InBev

(Newser) - Hero pilot Chesley “Sully” Sullenberger told Congress today that cost-cutting by carriers is forcing experienced colleagues out of jobs, to the detriment of safety in the skies, the Chicago Tribune reports. “We will see negative consequences to the flying public,” the US Airways captain said. Sullenberger himself... More »

MORE ABOUT:
cost cutting • pensions • experience • plane crash • airline safety • pilot • airplane • Chesley Sullenberger

(Newser) - Companies looking to cut labor costs are increasingly turning to salary reductions rather than further layoffs in an attempt to save employee morale, the Chicago Tribune reports. One extreme case is Acco Brands in Illinois, which imposed a six-week, 47% reduction for all workers instead of downsizing. "It's an... More »

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layoffs • cost cutting • recession • downsizing • firing • financial crisis • reduction

Cash-Squeezed Calif. to Close Offices Twice a Month

Labor unions file suit opposing cost-saving move

Jan 10, 09 10:32 AM CST
(Newser) - In another creative and/or desperate budgeting move from the Governator, California state offices will close 2 days a month, the Wall Street Journal reports. The state is low on cash and facing a budget deficit expected to swell to $42 billion deficit over the next 18 months. The days off,... More »

MORE ABOUT:
California • cost cutting • Arnold Schwarzenegger • lawsuit • office • labor unions • budget deficit • closing

Cash-Squeezed Bereaved Hold Funerals at Home

Home funerals can save thousands in tough times

Dec 26, 08 10:14 AM CST
(Newser) - Amid the recession, many who’ve lost loved ones are turning to less expensive in-home funerals, the Los Angeles Times reports, and it's creating a booming business for “death midwives,” consultants versed in preparing bodies and completing paperwork for such services. Once, such midwives were in demand for... More »

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cost cutting • funeral • burial • home • midwife • financial crisis

WINE REVIEW

 Why You Should Drink 
 From the Bottom of the List 



Expensive wines can break the bank and cheaper ones may give off the impression of mediocrity, but they can save money without losing their taste

Dec 10, 08 4:17 PM CST
(Newser) - While most people prefer choosing from the top of any wine list, it’s not where you get the best bang for your buck, writes Eric Asimov in the New York Times. He suggests starting at the bottom. While expensive wines are a must-have for any respectable restaurant, “the... More »

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cost cutting • wine • restaurant • cheap • eating • Food & Wine • NYC

opinion

 United Should Be Liquidated

Why the airline doesn't deserve a second chance

Aug 13, 08 5:49 PM CDT
(Newser) - What with the oil price spike, times are rough all around for airlines, writes Roben Farzad for BusinessWeek. But United presents a uniquely bungled case, and it is irresponsible to pity it along with other struggling players in the industry. "Even if the airline devised a way to run... More »

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cost cutting • pensions • airline industry • United Airlines • strike • credit crisis • fuel costs

American Stiffens Frequent-Flier Rules

Fees see an increase in a move to cut costs

Aug 7, 08 4:50 PM CDT
(Newser) - American Airlines has added stiffer fees and higher mileage requirements to its frequent-flier program as the airline struggles to cope with fuel costs, the New York Times reports. American, which posted a $1.16 billion loss for the second quarter, is following the lead of Delta, which tightened the purse... More »

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cost cutting • airline industry • American Airlines • frequent flier miles • quarterly results • fuel costs • business models

 Let the Carry-On Wars Begin 

Checked-bag fees will lead to a crush in the overhead bins

Jun 17, 08 4:35 PM CDT
(Newser) - With United, American, and US Airways all instituting charges for both first and second checked bags, a carry-on crunch is coming, the Wall Street Journal reminds us. Expect the baggage police to start heading off patrons flouting the cabin limit at security screenings. Airlines hope to to fight overcrowding in... More »

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cost cutting • US Airways • United Airlines • American Airlines • fees • fuel costs • baggage handling • airlines

 Honey, I'm Shrinking
 the Tribune Papers 

Zell plans to slice pages to offset $13B debt

Jun 6, 08 4:42 AM CDT
(Newser) - Publisher Sam Zell has announced he'll quickly slash pages and more editorial jobs to offset huge debts and  a larger-than-anticipated decline in advertising revenue at his newspapers, including the Los Angeles Times and Chicago Tribune. An 80-page edition of the Tribune could be sliced to 48 pages, reports the Chicago ... More »

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Sam Zell • Tribune Company • cost cutting • debt • Los Angeles Times • job cuts • newsroom cuts • Chicago Tribune

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 »

MORE ABOUT:
Citigroup • layoffs • cost cutting • business • finance

17 Stories


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