“JPMorgan Chase & Co. has informed state officials that it is laying off 43 employees in its Treasury and Securities Services business in downtown Milwaukee as a result of a relocation of the business unit. The New York City-based financial company said affected employees from its offices at 111 E. Wisconsin Ave. will be notified [...]
“Philadelphia’s mayor says nearly 3,000 city workers will get layoff notices Friday unless the state Legislature approves changes the city needs to balance its budget. The layoffs would be effective Oct. 2 and include more than 1,000 police officers and firefighters. The city is trying to close a $1.4 billion, five-year budget deficit.” (Source: Nearly [...]
“Best Buy Co., the largest U.S. electronics retailer, said Tuesday second-quarter results fell below expectations as sales at established stores fell. Still, the retailer raised its guidance for the year based on stabilizing customer traffic. Profit for the three months ended Aug. 29 fell 22 percent to $158 million, or 37 cents per share, from [...]
“Japan Airlines said Tuesday that it would cut 6,800 jobs, trim routes and quickly secure emergency funds from an overseas carrier, stepping up restructuring efforts amid mounting losses that threaten to pull the company under. Delta Air Lines, the world’s biggest airline, and American Airlines are battling over a stake in Japan Airlines, which had [...]
The United States auto market may be showing signs of a forthcoming turnaround, but General Motors announced this week that it will need to shed another 1,000 white collar workers. The news comes as the Detroit automaker fell short of its target for employee buyout and early retirement packages. According to The Detroit News, GM [...]
As many as 83 workers at an eastern Snyder County power plant may be out of work for two months, beginning in September. Jeff Specht, plant manager at Sunbury Generation, said cool summer weather cut energy consumption, causing wholesale electric prices to fall and likely remain deflated over the coming months. The plant has seen [...]
Lockheed Martin Space Systems Company, a division of US global security firm Lockheed Martin Corporation, said Monday it would cut about 800 jobs by year-end to improve its competitiveness. The company said the payroll deductions represent about 4.5 percent of the overall workforce and are “aimed at improving its competitive posture.” (AFP)
As part of a plan to restructure itself into a more innovative, efficient, and entrepreneurial business, MySpace announced today that it will reduce its staff by nearly 30%. This restructuring plan crosses all U.S. divisions of the company and lowers the total number of domestic staff at MySpace to 1,000 employees. (TechCrunch)
Cessna Aircraft Co., the nation’s largest builder of corporate jets, is planning another round of layoffs and possibly more furloughs, the company said Thursday. CEO Jack Pelton sent an e-mail to employees warning them of the coming cuts in the work force and production, but he did not say how many workers will lose their [...]
Scotts Valley-based Seagate Technology announced Wednesday that it will lay off approximately 1,100 members of its global workforce as part of a restructuring for the hard-disk manufacturer. This is the second heavy-duty round of layoffs this year. In January, the company trimmed 2,950 employees including CEO Bill Watkins and announced that more layoffs were likely [...]
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