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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: job cuts

job cuts stories: 55 news summaries

1 - 20 of 55 Stories | 1 2 3 Next >>

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 AOL to Lay Off a Third of Staff 

Roughly 2300 will get the boot after spin-off

Nov 19, 09 8:13 AM CST
(AP) - AOL says it plans to cut about a third of its work force once it is spun off from Time Warner. That would amount to nearly 2,300 of the roughly 6,900 workers at the struggling company. AOL said in a securities filing today it will impose the cuts... More »

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Time Warner • AOL • unemployment • job cuts

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

June Jobless Rate Hits
9.5%, a 26-Year High

363K job cuts predicted

Jul 2, 09 8:17 AM CDT
(AP) - Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5% and suggesting that the economy's road to recovery will be bumpy. The Labor Department report released today, which shows 100,000 more jobs shed than expected, indicates that even... More »

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recession • unemployment • job cuts • economy

MARKETS

 Dow Ends Big Week Up 13 


Jun 5, 09 3:15 PM CDT
(Newser) - The markets stalled today even as the Dow flirted with its peak for the year, the Wall Street Journal reports. An early rally on better-than-expected job loss data lost steam on news that the unemployment rate itself grew to its highest since 1983. And insiders aren’t sure that... More »

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NASDAQ • New York Stock Exchange • Dow Jones • unemployment • job cuts • S&P 500 • job • financial data • energy sector

AmEx to Ax 4K Jobs in $800M Chop 

Cuts are in addition
to 7K workers laid
off last fall

May 18, 09 5:48 PM CDT
(Newser) - American Express said today it plans to slash 4,000 jobs as part of an $800 million cost-cutting plan, CNNMoney reports. The cuts are in addition to 7,000 workers slated last fall to be laid off. Amex also plans to reduce operating costs and investment spending. The company "... More »

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employment • recession • American Express • job cuts • economy

 Layoffs Slow as Unemployment 
 Hits 8.9%, Worst Since '83 

539K positions cut; jobless rate hits 8.9%, highest since 1983

May 8, 09 8:45 AM CDT
(AP) - The pace of layoffs slowed in April when US employers cut 539,000 jobs, the fewest in 6 months; economists had expected 620,000 job cuts. But the unemployment rate climbed to 8.9%, the highest since late 1983, as many businesses remain wary of hiring in a climate of... More »

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layoffs • unemployment • unemployment benefits • job cuts • economy

 GM to Cut 21K US Factory Jobs 

Firm restructuring in bid for more government aid

Apr 27, 09 8:53 AM CDT
(AP) - General Motors will cut 21,000 US factory jobs by next year, phase out its Pontiac brand, and ask the government to take company stock in exchange for half of GM's government debt as part of a major restructuring effort needed to get more government aid, the firm said today.... More »

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United Auto Workers • General Motors • bond trading • debt • recession • stock • restructuring • job cuts • government loans

 Economy Forces 
 'Boomerang Kids' Back Home 

Experts fear financial strain of dependent, adult kids

Apr 26, 09 2:08 PM CDT
(Newser) - After losing their jobs and homes, some middle-aged adults are losing something else—independence from their parents, the Washington Post reports. The recession is forcing so-called “boomerang kids” back into their childhood homes, raising questions about how easily parents can accommodate refilled nests amid tough economic times. "It's... More »

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children • parents • homes • college • recession • job cuts • job

MARKETs open

 Stocks Flat After Jobs Data 


Apr 3, 09 8:48 AM CDT
(Newser) - Stocks ran out of gas at the open today, as investors digested a grim jobs report. The Dow and S&P were essentially flat, the Wall Street Journal reports, while the Nasdaq inched higher, on strong earnings from Research in Motion. The BlackBerry maker posted a 26% gain in... More »

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stock market • Dow Jones • BlackBerry • unemployment • Nasdaq • payrolls • Research in Motion • job cuts • S&P 500 • job

(Newser) - Another punishing month of job losses in March has pushed unemployment to a 25-year-high of 8.5%, the Labor Department said today. Total job losses for the 16-month recession have now passed 5 million. Nonfarm payrolls fell 663,000 in March, which mostly matched analyst estimates, the Wall Street ... More »

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unemployment • Department of Labor • payrolls • job cuts • job

(Newser) - US employers cut an estimated 742,000 jobs in March, a larger drop than expected, Bloomberg reports. The figure, from a report based on private payroll data, comes days before the Labor Department is expected to make a similar announcement. If the numbers prove accurate, it would mean that employers... More »

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recession • unemployment • US economy • Department of Labor • job cuts • economic downturn

 Google Cuts 200 Jobs 

Search king slashes sales jobs as recession shrinks revenue

Mar 27, 09 2:07 AM CDT
(Newser) - Google is cutting 200 sales and marketing positions to save costs as companies worldwide slash their online advertising budgets, Bloomberg reports. Company officials hope the trims will also help streamline the decision-making process. The jobs will be eliminated globally, and employees have been encouraged to seek new positions within the... More »

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Google • layoffs • online advertising • recession • job cuts

 IBM Slashes 5K US Jobs 

Moves many to India

Mar 26, 09 10:08 AM CDT
(Newser) - IBM will cut 5,000 US jobs, the Wall Street Journal reports, sending many to India to continue its expansion there and downsizing in the US. The cuts hit IBM’s global business services unit. They stem in part from customers ending contracts and the automation of some work, but... More »

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India • layoffs • outsourcing • IBM • job market • job cuts

(Newser) - The sole supplier of condoms to Washington's overseas AIDS campaign is likely going out of business thanks to Asian competition, the Kansas City Star reports. The feds are close to signing contracts with companies in South Korea and China, which charge 2 cents per condom; Alabama-based Alatech charges five.... More »

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China • South Korea • Alabama • manufacturing • job cuts • HIV/AIDS • condoms • USAID

Earnings

 FedEx Earnings Dive 75% 


Mar 19, 09 7:52 AM CDT
(Newser) - FedEx net income plunged 75% in the third quarter, the company announced today, a bad sign for economists who consider the shipping giant a bellwether. FedEx also announced plans to cut $1 billion in costs, though it didn’t detail how many job cuts that might entail. The company has... More »

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earnings reports • corporate earnings • FedEx • job cuts • financial crisis

Fired French Sony Workers Free CEO Hostage

Boss's visit to videotape plant lasts through the night

Mar 13, 09 6:46 AM CDT
(Newser) - The CEO of the French arm of Sony was held hostage overnight by laid-off employees at a videotape plant being shut down, the Guardian reports. He was released this morning on the condition that he go directly to talks with trade unionists, who are upset at the size of their... More »

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France • Sony • trade unions • job cuts • hostage

United Technologies
Will Slash 11,600 Jobs

Tough commercial aerospace market drives cuts

Mar 10, 09 8:28 AM CDT
(AP) - United Technologies Corp, which owns Sikorsky Aircraft and Pratt & Whitney, maker of jet engines, will cut 11,600 jobs and has lowered its 2009 forecast in a crumbling commercial aerospace market. The moves, part of an expanded $750 million restructuring program, are fueled by a decline in anticipated revenue,... More »

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military • layoffs • aircraft • United Technologies • revenue • job cuts • Pratt & Whitney • engine

Consumer Confidence
Hits New Low

Index plummets to 25, compared to 76.4 a year ago

Feb 24, 09 10:16 AM CST
(AP) - Americans' already-battered confidence in the economy went into freefall this month, reaching new lows as consumers grow more fearful over huge job cuts and shrinking retirement accounts. New York's Conference Board said its Consumer Confidence Index, which was down slightly in January, plummeted more than 12 points in February to... More »

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consumer confidence • retirement fund • job cuts • consumer confidence index • economy

MARKET Open

 Stocks Slip on Bailout Jitters 


Feb 10, 09 8:53 AM CST
(Newser) - Stocks took a dip at the open today, as investors awaited news on how the remaining $350 billion of the $700 billion bank rescue will be spent. The Dow shed 56 points, while the Nasdaq and S&P inched down 0.2% and 0.7%, respectively. GM’s shares were... More »

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stock market • stock exchange • Nasdaq • Dow • job cuts • S&P 500

(Newser) - GM will cut 10,000 jobs this year, including 3,400 in the US, the Wall Street Journal reports. The cuts represent 14% of GM’s salaried workforce overall, and 12% in the US. Most of those lucky enough to survive the axe will get a 3%-7% pay cut,... More »

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General Motors • Detroit • unemployment • auto industry • Big Three • job cuts

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