The number of Americans filing new claims for jobless benefits rose slightly last week but was near its lowest level since before the 2007-09 recession, a hopeful sign for the U.S. economy. Read More »
March unemployment numbers reveal the economy is weakening, it seems employees already are losing confidence. A new survey from Glassdoor finds nearly one in five employees are worried about being laid off in the next six months, despite the fact that many believe the company's outlook will improve over that... Read More »
The number of planned layoffs at U.S. firms fell in March but downsizing by retail companies still helped the first quarter rack up the largest amount of cuts in over a year, a report showed on Thursday.
Employers announced 49,255 planned job cuts last month, down 11% from 55,356 in February, according to the... Read More »
By Matt Egan
Fresh off its $1.92 billion money laundering settlement, British banking giant HSBC reportedly is nearing a decision to further slash costs by axing another 5,000 jobs. According to the Financial Times, the London-based lender is "gearing up" for thousands more layoffs that could be outlined at an... Read More »
ATLANTIC CITY -- Notice has gone out that more than 1,400 employees could face layoffs at Atlantic City's Trump Plaza Hotel and Casino. Officials say the notice is a formality in advance of the sale of Trump Plaza to the Meruelo Group for $20 million. State law requires 60 days' notice of closings and layoffs. Read More »
NEW YORK -- Google is cutting an additional 1,200 jobs in its Motorola division as the unprofitable cellphone maker struggles to compete. Last summer, Google Inc. announced 4,000 Motorola job cuts. The latest reductions are in addition to those and will be in countries including the U.S., China and... Read More »
NEW YORK -- JPMorgan will trim about 19,000 jobs over the next two years but cast a positive spin on the news: It is shrinking the unit it had beefed up to handle troubled mortgages.
The bulk of the cuts, about 15,000, will come at the mortgage unit, which had swelled to about 50,000 workers from a... Read More »
Goldman Sachs Group Inc. will begin a fresh round of job cuts as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading. The bank usually culls out the weakest 5 percent of its employees around now. But the cuts... Read More »
By Walter Hickey
On March 1, sequestration will go into effect. While the across-the-board budget cuts will target each and every non-exempt program equally, some states in particular will suffer the brunt of the pain because of an economic reliance on defense infrastructure.
Because military personnel are... Read More »
AMSTERDAM -- Dutch financial services group ING announced deeper job cuts in retail banking as it prepares to separate its banking and insurance operations under the terms of a state bailout. ING is dismantling its once-fashionable bancassurer model after the 2008 bailout, divesting insurance and investment... Read More »
Every week, there seems to be another major employer announcing mass layoffs. But equally prevalent, though less noticed, is the steady stream of employers who conduct "stealth layoffs" every couple of months -- methodically shedding smaller numbers of staff so quietly that often many employees in the firm... Read More »
By Steve Slater
and Matt Scuffham
LONDON -- Barclays new chief executive pledged a fresh course for the British lender on Tuesday, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals.
In an attempt to distance the... Read More »
DENVER -- The video-rental chain Blockbuster plans to close about 300 stores across the country, losing about 3,000 employees. A company spokesman told The Denver Post on Monday that the closures will leave about 500 Blockbuster locations in the U.S. In 2011, the Dish Network bought then-bankrupt Blockbuster... Read More »
American Express Co said it would cut about 5,400 jobs, and take about $600 million in after-tax charges in the fourth quarter, which will halve its net income for the period.
The credit card company said it would employ 4 to 6 percent fewer people by the end of 2013, compared to its current headcount of... Read More »