Job Cuts

  • Panasonic To Cut 10,000 More Jobs

    Panasonic To Cut 10,000 More Jobs

    Panasonic Corp., Japan's biggest commercial employer, will lay off 10,000 more workers in the fiscal year ending in March 2013, in a bid to trim costs and boost profitability at close to 100 business units, a fifth of which are losing money, its chief financial officer told Reuters. Panasonic is aiming to... Continue Reading

  • Confessions Of A Corporate Hit Man: 'I Got Paid To Restructure'

    Confessions Of A Corporate Hit Man: 'I Got Paid To Restructure'

    When people ask me what I did before I became a career coach, I say, "Have you seen the movie 'Up in the Air' with George Clooney?" At which point, they say, "Yes!" Then I say, "He had my job." Sometimes, I even throw in the random additional fact that Clooney and I share the same birthday too. (Sorry George,... Continue Reading

  • Comcast's NBCUniversal To Cut 500 Jobs, Including On Leno, Report Says

    Comcast's NBCUniversal To Cut 500 Jobs, Including On Leno, Report Says

    LOS ANGELES -- Comcast Corp's NBCUniversal entertainment unit is laying off about 500 employees at cable channels, Jay Leno's late-night TV show and the Universal Pictures movie studio, a person with knowledge of the matter said on Monday. The cuts add up to about 1.5 percent of the company's workforce of... Continue Reading

  • ING To Cut 2,350 Jobs -- And Doesn't Rule Out More Layoffs

    ING To Cut 2,350 Jobs -- And Doesn't Rule Out More Layoffs

    AMSTERDAM -- ING, the largest Dutch financial services group, is to cut more than 2,000 jobs worldwide as it prepares to separate its banking and insurance operations in difficult markets. The cuts, which equate to 2.5 percent of ING's workforce, come as banks across Europe shed staff in a reassessment of... Continue Reading

  • Jobs Dwindle During Green Power Debate

    Jobs Dwindle During Green Power Debate

    By Nicholas Riccardi DENVER -- An eerie quiet has settled over the Walker Components plant, which assembles custom cables for a global wind turbine company. Orders are down from earlier in the year and one-third of its employees have been laid off this year. "At the beginning of this year we just didn't... Continue Reading

  • Planned Job Cuts Jump 41%, 5-Month High, Report Says

    Planned Job Cuts Jump 41%, 5-Month High, Report Says

    The number of planned layoffs by firms jumped 41.1 percent in October to the highest level in five months, although the number includes more than 10,000 jobs in U.S.-owned auto plants in Europe, a report said on Thursday. Employers announced 47,724 planned job cuts last month, up from September's 33,816,... Continue Reading

  • UBS To Cut 10,000 Jobs, Workers Irate [UPDATE]

    UBS To Cut 10,000 Jobs, Workers Irate [UPDATE]

    GENEVA -- Swiss banking giant UBS AG is to cut as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. The news of the layoffs came as Switzerland's biggest bank posted another big loss for the third quarter. It said Tuesday that the job cuts are part... Continue Reading

  • Newell Rubbermaid To Cut 1,900 Jobs

    Newell Rubbermaid To Cut 1,900 Jobs

    By Michelle Chapman NEW YORK -- Newell Rubbermaid plans to cut more than 1,900 jobs, or about 10 percent of its worldwide workforce, over the next two and a half years as the consumer products company reorganizes its operations in a bid to boost profitability. The company, known for Sharpie pens and its... Continue Reading

  • Richard Eggers, Fired From Wells Fargo, Declines Reinstatement

    Richard Eggers, Fired From Wells Fargo, Declines Reinstatement

    DES MOINES, Iowa -- A 68-year-old Des Moines man fired from Wells Fargo Home Mortgage over a... Continue Reading

  • Colgate-Palmolive To Cut More Than 2,000 Jobs

    Colgate-Palmolive To Cut More Than 2,000 Jobs

    Colgate-Palmolive Co. unveiled a cost-cutting plan on Thursday that included cutting its workforce by the end of 2016 by about 6 percent. The toothpaste maker, which has some 38,600 employees, also posted a higher quarterly profit that met analyst expectations. Third-quarter profit was $654 million, or $1.36... Continue Reading

  • DuPont To Cut 1,500 Jobs

    DuPont To Cut 1,500 Jobs

    By Randall Chase DOVER, Del. (AP) - Chemical maker the DuPont Co. will cut 1,500 jobs and take other steps to increase competitiveness after a third quarter in which earnings fell sharply. The Wilmington, Del.-based company reported net income of $10 million Tuesday, or a penny per share, compared with $452... Continue Reading

  • Chipmaker AMD Suffers Big Losses, Announces Big Layoffs

    Chipmaker AMD Suffers Big Losses, Announces Big Layoffs

    PC chipmaker Advanced Micro Devices said on Thursday it will cut its workforce of nearly 12,000 by 15 percent, its second round of layoffs in less than a year, as it struggles with a weak global economy and a consumer shift toward tablets. The chipmaker forecast a drop in fourth-quarter revenue that is worse... Continue Reading

  • Sony To Cut 2,000 Jobs

    Sony To Cut 2,000 Jobs

    Sony said it will lay off staff in its headquarters by a fifth and shutter a factory making camera lenses and mobile phones in Japan, providing new details of a previously announced plan to trim its global headcount by 10,000 by end-March. Continue Reading

  • Nordic Telecom TeliaSonera To Slash 2,000 Jobs

    Nordic Telecom TeliaSonera To Slash 2,000 Jobs

    Nordic telecommunications company TeliaSonera AB says it will cut 2,000 jobs, or 7 percent of its staff, after sales and profits slumped in the third quarter. Continue Reading

  • Siemens To Cut Jobs, Close Offices

    Siemens To Cut Jobs, Close Offices

    By Maria Sheahan (Reuters) - Germany's Siemens may outline job cuts and office closures on Thursday to stop profits sliding as customers put off ordering engineering equipment because of Europe's economic crisis. Chief Executive Peter Loescher's strategy of boosting growth with energy-saving and... Continue Reading

  • Hallmark Cards To Close Plant, Lay Off Workers, Cites E-Cards

    Hallmark Cards To Close Plant, Lay Off Workers, Cites E-Cards

    By Heather Hollingsworth Say it's your birthday or you've just had a baby, maybe got engaged or bought your first house. If you're like many Americans, your friends are texting their congratulations, sending you an e-card or clicking "Like" on your Facebook wall. But how many will send a paper greeting card? Continue Reading

  • Fiscal Cliff Threatens 277,000 Federal Jobs

    Fiscal Cliff Threatens 277,000 Federal Jobs

    By Jennifer Liberto WASHINGTON (CNNMoney) -- Federal workers have weathered a two-year pay freeze, increased health insurance premiums, and threats of more cuts from Republicans. Now their jobs are in jeopardy. Some 277,000 workers -- 14% of the federal work force -- could lose their jobs in the next 12... Continue Reading

  • Bank of America To Cut 16,000 Jobs By Year End, Report Says

    Bank of America To Cut 16,000 Jobs By Year End, Report Says

    Bank of America is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues, The Wall Street Journal reported on Wednesday. The job cuts would put the second-largest U.S. bank a year ahead of schedule in eliminating 30,000 jobs under a program... Continue Reading

  • American Airlines Sends Layoff Warnings to Thousands

    American Airlines Sends Layoff Warnings to Thousands

    By Karen Jacobs American Airlines said Tuesday that it has notified more than 11,000 workers that they could lose their jobs as part of its bankruptcy reorganization, and said it was cutting flights by 1 to 2 percent for the rest of September and October. The U.S. carrier expects fewer than 40 percent of... Continue Reading

  • Philips Electronics To Cut Another 2,200 Jobs

    Philips Electronics To Cut Another 2,200 Jobs

    By Roberta Cowan Philips Electronics stepped up its cost-cutting drive on Tuesday and said more jobs would go as part of a drastic overhaul of its business, which began to turn around in the first half after losing 1.3 billion euros in 2011. Continue Reading

  • HP Plans To Dump 2,000 More Workers

    HP Plans To Dump 2,000 More Workers

    SAN FRANCISCO -- Hewlett-Packard Co. is planning to cut about 2,000 more jobs than it had previously announced as CEO Meg Whitman tries to turn the company around. In a regulatory filing Monday, the computer and printer maker said it will eliminate 29,000 jobs by October 2014, up from the 27,000 cuts it... Continue Reading

  • Lexmark To Cut 13% Of Employees, Stop Producing Inkjet Printers

    Lexmark To Cut 13% Of Employees, Stop Producing Inkjet Printers

    LEXINGTON, Ky. -- Lexmark is cutting 1,700 jobs, or almost 13 percent of its workforce, and says that it will stop making inkjet printers as part of a drive to cut costs as it deals with shrinking sales of inkjets. The printer and software company said Tuesday that it will close its inkjet supply plant in the... Continue Reading

  • Google To Cut 4,000 Jobs At Motorola

    Google To Cut 4,000 Jobs At Motorola

    MOUNTAIN VIEW, Calif. -- Google said Monday that it will cut about 4,000 jobs at its Motorola Mobility wireless phone business and will close or consolidate about one-third of Motorola's 90 locations. The reductions represent about 20 percent of Motorola Mobility's 20,000 employees, and two-third of the job... Continue Reading

  • Michigan To Lay Off 400 Unemployment Workers

    Michigan To Lay Off 400 Unemployment Workers

    By Tami Luhby NEW YORK -- Many jobless claims workers in the state of Michigan will soon be filing for unemployment themselves. About 400 state workers who process unemployment claims are losing their jobs, thanks to Michigan's improving economy. Continue Reading

  • GM Simplifies Vehicle Development, Cuts Jobs

    GM Simplifies Vehicle Development, Cuts Jobs

    DETROIT (AP) -- General Motors is restructuring its vehicle development process, cutting a layer of management and eliminating about 20 executive jobs. The company said Wednesday that no one will be fired because the cuts will come through retirements and reassignment to other positions. Continue Reading

  • U.S. Manufacturing At Slowest Pace Since 2010, Fewer Jobs Added

    U.S. Manufacturing At Slowest Pace Since 2010, Fewer Jobs Added

    By Steven C. Johnson NEW YORK, July 24 -- U.S. manufacturing this month expanded at its slowest pace since late 2010, hobbled by weak overseas demand for American goods, though a rise in domestic orders helped cushion the blow. Financial information firm Markit said on Tuesday its U.S. "flash" manufacturing... Continue Reading

  • Federal Budget Cuts Could Result in 2 Million Jobs Lost

    Federal Budget Cuts Could Result in 2 Million Jobs Lost

    By Donna Cassata WASHINGTON -- Automatic cuts in federal spending will cost the economy more than 2 million jobs, from defense contracting to border security to education, if Congress fails to resolve the looming budget crisis, according to an analysis released Tuesday. Continue Reading

  • Only 23% Of U.S. Companies Plan To Hire In The Next 6 Months

    Only 23% Of U.S. Companies Plan To Hire In The Next 6 Months

    By Mike "Mish" Shedlock, Global Economic Trend Analysis According to the latest survey from the National Association for Business Economics (NABE) hiring over the next six months looks grim. Continue Reading

  • Unemployment Benefits Whittled Down

    Unemployment Benefits Whittled Down

    Many long-term unemployed will begin seeing their federal jobless benefits disappear starting this week. Although Congress reauthorized federal emergency unemployment benefits earlier this year, lawmakers reduced the weeks the jobless can collect payments. The cutbacks come in two phases -- one now and another... Continue Reading

  • Louisiana Illegally Fired Over 7,000 Teachers After Hurricane Katrina, Judge Says

    Louisiana Illegally Fired Over 7,000 Teachers After Hurricane Katrina, Judge Says

    NEW ORLEANS -- A Louisiana judge ruled Wednesday that thousands of New Orleans school employees were wrongfully fired after Hurricane Katrina shut down the city and its schools in 2005. Judge Ethel Simms Julien awarded more than $1 million to seven people who filed the class-action suit against the New Orleans... Continue Reading