Caterpillar Inc., gearing down production further in response to eroding global demand, disclosed plans Tuesday to idle more than 2,200 U.S. workers, including 1,526 in Illinois. The Peoria-based heavy-equipment giant already has announced 22,000 job cuts worldwide, with many of them hitting Caterpillar’s home state. Now, the company is making additional long-term layoffs in Aurora [...]
“Nokia said it would lay off 1,700 people worldwide to cut costs, as the global economic downturn strikes deeper into the mobile phone sector… The job cuts will affect several sectors, including its devices and markets units, the corporate development office and global support functions,” The Associated Press reports. “Nokia shares plunged more than 3 [...]
Technology giant IBM is resorting to “scattered layoffs” and the total could be nearly 4,600 employees in North America even though the company has reported surprisingly strong quarterly profits in January, a media report says. (Sify.com)
Garmin Ltd. today said it is laying off 141 employees in Kansas City, a first for the Olathe-based navigation business that has been one of the area’s fastest growing companies. All of the affected employees are in Olathe, or in the company’s two area customer service centers. Garmin has 2,510 employees in the Kansas City [...]
About 85% of Stanford Financial’s U.S. employees were laid off on Friday evening. (Fox Business)
Seagate Technology, the Cayman Islands disk drive maker that operates out of Scotts Valley, today announced that it is terminating five senior vice-presidents and 17 vice-president-level employees, which represent about 20 percent of Seagate’s vice-president-and-above-level positions.(Silicon Beat)
Northrop Grumman Corp., the region’s second-largest private employer, is planning to lay off as many as 750 workers, most of them in Southern California, as it consolidates administrative staffs in El Segundo and Redondo Beach. The cuts would add to California’s staggering unemployment roll of more than 10% and would represent about 3% of the [...]
It’s official: Macy’s has told the state that it will be laying off 375 employees at its Florida corporate headquarters on East Flagler Street in downtown Miami. Last month, the Cincinnati-based retailer (NYSE: M) said it was closing its Florida headquarters as part of a nationwide restructuring of its central operations. A total of 7,000 [...]
Six years after a $14 billion deal that marked its entry into the U.S. subprime mortgage market, HSBC Finance Corp. admitted Monday that its purchase of Prospect Heights-based Household International “has not been a successful acquisition” as it announced the closing of the unit catering to borrowers with spotty credit histories. The candor over the [...]
RT @thedarktangent: @GreatDismal it is the 20th anniversary of the DEF CON hacker conference the end of July and I want to invite you to speak. RT @Katy_Read: Like many writers, I have rituals. Before writing, I pour coffee, open the window by my desk, and attempt to read the entire internet. CNBC coverage of FB IPO is pretty fun. "Company X" stock is up. Check out their Facebook page. Coming up, Facebook. After the break….FB.Copyright © 2009–2012