Layoffs And Downsizing

By Randolph E. Schmid WASHINGTON -- The financially strapped U.S. Postal Service is considering cutting as many as 120,000 jobs. Facing a second year of losses totaling $8 billion or more, the agency also wants to pull its workers out of the retirement and health benefits plans covering federal workers and ...

When Atlantis successfully completed its mission last month, it brought to an end NASA's 30-year-old space shuttle program and thousands of jobs. Many of those positions ended in advance of the program's end this summer, but the bloodletting hasn't ceased just yet. ...

By CHRISTINA REXRODE NEW YORK (AP) -- Bank of New York Mellon Corp. said Wednesday that it will cut about 1,500 jobs, or 3 percent of its work force, the latest sign of the banking industry's painful shrinking. ...

By Michael Froehls, Ph.D., author of "The Gift of Job Loss" In the movie "The Company Men," several managers get laid-off. One of them is afraid that the neighbors will find out. He dresses up in the morning, and then leaves home in a suit, only to return for dinner as if coming back from work. Apparently, he ...

NEW YORK - The number of planned layoffs at U.S. firms rose to a 16-month high in July as sectors which had been seeing fairly few layoffs unexpectedly bled jobs, a report on Wednesday showed. Employers announced 66,414 planned job cuts last month, up 60.3 percent from 41,432 in June, according to a report ...

Barclays is set to cut about 3,000 jobs this year to reduce costs after a drop in bond trading and an insurance mis-selling charge cut first half profits by a third. The British bank's performance was more resilient than rivals, however, as bad debts tumbled and it kept costs steady. ...

By MEERA SELVA LONDON (AP) -- British banking group HSBC said Monday it will cut 30,000 jobs worldwide by 2013 and sell almost half its retail bank branches in the U.S., part of a new strategy to focus on fast-growing emerging markets. The bank, which reported a better-than-expected 3 percent increase in ...

By Linda A. Johnson Drugmaker Merck & Co.'s second-quarter profit nearly tripled from a year ago, when about $2 billion in charges hurt results. Merck also said Friday that it will cut up to 11,830 jobs. The maker of asthma and allergy drug Singulair and Type 2 diabetes pill Januvia said Friday that ...

By Matthew Perrone WASHINGTON (AP) -- Medical device maker Boston Scientific reported a better-than-expected second-quarter profit Thursday and announced it would reduce its staff by between 5 and 6 percent to streamline operations. ...