layoffs

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IBM Slashes 5K US Jobs
 IBM Slashes 5K US Jobs 
Mar 26, 2009 10:08 AM CDT

IBM Slashes 5K US Jobs

Moves many to India

(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...

French Workers Free Hostage Boss

Strikers let 3M boss walk after he agrees to better layoff packages

(Newser) - Striking French factory workers have freed their boss after barricading him in his office south of Paris for nearly a day, the BBC reports. The manager of the 3M plant, who was released only after he agreed to renegotiate compensation packages for laid-off workers, said conditions "were not so...

Wall Street's Woes Hit Sesame Street

Drop in donations forcing round of layoffs at Sesame Workshop

(Newser) - The recession is pushing Sesame Street closer to Skid Row, reports the Financial Times. The educational foundation behind the TV show and a variety of community programs is laying off a fifth of its 355 staff. The Sesame Workshop has been hit hard by market turmoil eroding its investments and...

Real 'Cheers' Bartender Laid Off

(Newser) - For 35 years, Eddie Doyle has been the most famous bartender at Boston’s most famous bar, pouring drinks, signing autographs, and raising more than $1 million for charity along the way. Now, he’s unemployed. Cheers, the bar that inspired the TV show of the same name, has laid...

Laid-Off, Many Turn to Blogging
 Laid-Off, Many Turn to Blogging 
Mar 10, 2009 1:30 PM CDT

Laid-Off, Many Turn to Blogging

Recently laid-off vent, share leads online

(Newser) - As layoffs soar, job seekers are turning to blogs to connect with others in the same boat and share their adventures in unemployment, the Wall Street Journal reports. For many professionals, blogging helps make sense of the sudden changes a layoff brings. "It's difficult to see your own progress,...

United Technologies Will Slash 11,600 Jobs

Tough commercial aerospace market drives cuts

(Newser) - 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,...

Microsoft U-Turns on Severance Clawback

Company tells laid-off workers they can keep severance overpayments after all

(Newser) - Microsoft is moving to stem a flood of bad publicity by letting laid-off workers who accidentally got too much severance pay keep the extra cash, TechCrunch reports. The workers, who lost their jobs last month in Microsoft's first-ever mass layoffs, contacted news media after receiving letters from the company asking...

Big-Mouth Amtrak Rider Announces Firm's Layoffs

(Newser) - A venerable New York law firm is scrambling to do damage control after passengers on an Acela train heard about planned layoffs before the associates targeted for downsizing, Above the Law reports. A Pillsbury Winthrop honcho "was talking so loudly that I think most people in the car were...

Disney to Slash Theme Park Jobs

Company announces layoffs, major restructuring of park operations

(Newser) - Tomorrowland holds unemployment for an undisclosed number of Disney employees, reports the Orlando Sentinel. The company is restructuring its theme park division—which employs 80,000 people—and plans to cut jobs by consolidating its East and West Coast operations. Analysts believe Disney can make substantial savings this way but...

NYC Wants to Turn Laid-Off Bankers Into Entrepreneurs

Bloomberg unveils $45M program

(Newser) - With the Wall Street mess taking a heavy toll on New York City's economy, Mayor Bloomberg is launching a program to retrain laid-off investment bankers and make the city a mecca for entrepreneurs and foreign financial firms. The city plans to spend $45 million in federal and city money to...

Firms Cut Pay Instead of Jobs
 Firms Cut Pay Instead of Jobs 
Feb 17, 2009 2:24 PM CST

Firms Cut Pay Instead of Jobs

(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...

Calif. Can't Settle Budget; Guv Will Begin 20K Layoffs

Remaining state public-works projects to be stopped

(Newser) - California’s legislature couldn’t agree on a budget by the time it adjourned last night, so even as legislators trudge back to negotiate this morning, Gov. Arnold Schwarzenegger will begin proceedings to lay off 20,000 government workers and halt the 275 state-funded public works projects still in action,...

Caterpillar Boss Contradicts Obama on Jobs

Even more layoffs will be needed before stimulus works: CEO

(Newser) - Caterpillar's CEO said the stimulus package would let the company start rehiring laid-off workers, according to President Obama—but he was swiftly contradicted by the boss himself, ABC News reports. CEO James Owens said that even with the stimulus package, the massive scale of the downturn would require the firm...

Nissan Slashing 20,000 Jobs
 Nissan Slashing 
 20,000 Jobs
Feb 9, 2009 3:31 AM CST

Nissan Slashing 20,000 Jobs

First Japanese automaker to move production from Japan and soaring yen

(Newser) - Nissan will cut 20,000 jobs worldwide by next year and move production from Japan and its soaring yen, reports the Wall Street Journal. Reeling from a massive $900 million loss last quarter, Nissan also announced it will slash management, seek public assistance and suspend its 5% annual growth goal...

Salmonella Scare Rattles Peanut County

Farmers report fewer contracts

(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....

It's Time for a Backup Plan
 It's Time for a Backup Plan 
Feb 8, 2009 2:50 PM CST

It's Time for a Backup Plan

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

(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,...

RNC Chief Sacks Staff; Feds Probe His 2006 Race

Steele accused of misusing 2006 campaign funds

(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...

Job Losses Hit 3.6M; Unemployment at 7.6%

(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 rate...

Jobless Claims Set Another Record

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

(Newser) - 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...

Panasonic Cuts 15,000 Jobs
 Panasonic Cuts 15,000 Jobs 
Feb 4, 2009 6:47 AM CST

Panasonic Cuts 15,000 Jobs

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

(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...

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