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Keyword: layoffs

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  • United Sending Layoff Notices To Nearly Half of US Employees

    07/08/2020 11:31:09 AM PDT · by Enlightened1 · 42 replies
    AP News ^ | 07/08/20
    United Airlines is warning 36,000 employees - nearly half its U.S. staff - they could be furloughed in October, the clearest signal yet of how deeply the virus pandemic is hurting the airline industry. The outlook for a recovery in air travel has dimmed in just the past two weeks, as infection rates rise in much of the U.S. and some states impose new quarantine requirements on travelers. United officials said Wednesday that they still hope to limit the number of layoffs by offering early retirement benefits, and that 36,000 is a worst-case scenario. The notices going to employees this...
  • Gundlach: A 'wave' of layoffs is coming for $100,000/year white-collar jobs

    06/09/2020 6:24:48 PM PDT · by fluorescence · 54 replies
    Yahoo Finance ^ | June 9, 2020 | Julia La Roche
    Billionaire bond investor Jeffrey Gundlach, the CEO of $135 billion DoubleLine Capital, sees the potential for a "wave of more higher-end unemployment' hitting white-collar workers making more than $100,000 per year as employers increasingly question the value these employees bring. In 11 weeks, more than 42 million Americans filed for unemployment insurance as the COVID-19 pandemic wrecked the economy. The bulk of these job losses hit lower-income households the hardest. "A lot of times it's not the earthquake, it's the fire," Gundlach said on a webcast for the DoubleLine Total Return Bond Fund (DBLTX), later adding that he could "easily...
  • Boeing cutting more than 12,000 U.S. jobs with thousands more planned

    05/27/2020 9:54:56 AM PDT · by SeekAndFind · 14 replies
    Reuters via Yahoo News ^ | 05/27/2020 | David Shepardson
    Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic. Boeing also disclosed it plans "several thousand remaining layoffs" in the next few months but did not say where those would take place. The company announced in April it would cut 10% of its worldwide workforce of 160,000 by the end of 2020. Boeing said Wednesday it had approved 5,520 U.S. employees to take voluntary layoffs and they will leave Boeing in the coming weeks. Boeing also disclosed...
  • The Atlantic To Lay Off 68 Employees, Cut Executive Pay And Freeze Salaries

    05/21/2020 9:09:51 AM PDT · by wac3rd · 43 replies ^ | May 21, 2020 | Ted Johnson
    "In a memo to staff, chairman David Bradley wrote that even though they have had “exceptional growth” in print and digital subscriptions since September, when they introduced a paywall, there has been an “overnight and and near-complete undoing of in-person events and, for now, a bracing decline in advertising.” The cuts represent 17% of staff. Bradley also announced play cuts for executives and a general pay freeze for the rest of the year. He wrote, “I was to tell our departing colleagues how deeply sorry I am. If we saw any prospect that your jobs souls return in a reset...
  • Study Finds 42% Of Pandemic Layoffs Will Become Permanent Job Losses

    05/12/2020 2:00:06 AM PDT · by Enlightened1 · 46 replies
    Washington Examiner ^ | 05/11/20 | Mica Soellner
    Many of the coronavirus pandemic layoffs will become permanent job losses, according to a new study with alarming implications for the future of the economy.Forty-two percent of workers experiencing recent layoffs will suffer permanent job losses, according to a paper circulated by the National Bureau of Economic Research.The finding is especially grim news because officials are hoping that most of the workers sent home during the pandemic will return quickly to their old jobs. The vast majority of the massive layoffs in response to the pandemic have been on a temporary basis: In April, 18 million of the 20.6 million people...
  • Dallas Furloughs 500 Employees to Fight Coronavirus Budget Crunch

    05/09/2020 10:28:32 PM PDT · by fluorescence · 15 replies
    The Dallas Observer ^ | May 8, 2020 | Stephen Young
    About 500 Dallas employees have been furloughed as the city continues to fight its coronavirus budget crunch, Dallas Mayor Eric Johnson and City Manager TC Broadnax announced Friday. The furloughs have been handed out across 10 departments, according to a letter from Broadnax to city employees. "The city manager notified the City Council of his decision on the furloughs this morning. Although I knew such measures were likely, my heart continues to break at the news of more economic pain for people in our city," Johnson said in a statement Friday afternoon. "Further difficulties may still be ahead as we...
  • Souplantation’s buffet-style restaurants closing for good because of the coronavirus

    05/07/2020 10:00:57 PM PDT · by fluorescence · 73 replies
    Los Angeles Times ^ | May 7, 2020 | Lori Weisberg, Lucas Kwan Peterson
    Souplantation, the popular buffet-style dining brand founded in San Diego 42 years ago, is closing all of its restaurants permanently, a casualty of the COVID-19 pandemic that is likely to be the death knell for all self-serve eateries. The permanent closing of the 97 restaurants, including 44 in California, was announced Thursday after weeks of efforts to salvage San Diego-based Garden Fresh Restaurants, the parent company of Souplantation and Sweet Tomatoes. The closing will mean lost jobs for 4,400 employees. “The FDA had previously put out recommendations that included discontinuing self-serve stations, like self-serve beverages in fast food, but they...
  • Planned Parenthood reports layoffs, furloughs

    05/07/2020 4:29:22 PM PDT · by fluorescence · 15 replies
    Crain's New York Business ^ | May 07, 2020 | Jennifer Henderson
    Planned Parenthood of Greater New York—which launched in January after the merger of five affiliates—has laid off or furloughed nearly a third of its staff as a result of the Covid-19 crisis. About 135 employees have been laid off, and 150 have been furloughed or had their hours reduced. "It's very difficult to make that decision," said Laura McQuade, president and CEO. "We felt that in order to stabilize the organization, we had to make that decision." Planned Parenthood relies on insurance and patient revenue as well as grants and private philanthropy. All have taken a hit during the pandemic....
  • Airbnb Cutting 25% of Workforce in Layoffs

    05/07/2020 2:02:10 AM PDT · by fluorescence · 11 replies
    The Street ^ | May 5, 2020 6:17 PM EDT | Nelson Wang
    Airbnb is letting go of a quarter of its workforce, co-founder and CEO Brian Chesky told employees in a memo on Tuesday, as the coronavirus pandemic has decimated demand for his company’s services. The home-sharing platform, which was widely expected to go public this year, becomes the latest sharing economy company to institute or consider instituting significant layoffs. Uber is reportedly considering laying off 20% of its workers while Lyft has already laid off 17% of its employees. "We are collectively living through the most harrowing crisis of our lifetime, and as it began to unfold, global travel came to...
  • Uber layoffs, following Lyft, Airbnb, add to SF economic pain

    05/07/2020 1:54:49 AM PDT · by fluorescence · 8 replies
    San Francisco Chronicle ^ | May 6, 2020 | Carolyn Said
    Three marquee San Francisco tech companies — Uber, Airbnb and Lyft — which exemplified a new generation of megabillion-dollar startups, have now slashed staffs in response to the coronavirus pandemic and shelter-in-place orders. Ride-hailing company Uber, among the city’s largest employers, was the latest to do so, laying off 14% of its workforce, or 3,700 recruiting and customer support employees worldwide, on Wednesday in the biggest round of layoffs to date for a San Francisco tech company during the crisis. Uber’s smaller rival Lyft had 982 layoffs last week, or 17% of its staff, and will implement furloughs and pay...
  • United Airlines to cut 30% of management in October and braces pilots for changes as well

    05/06/2020 7:15:06 AM PDT · by fluorescence · 20 replies
    CNBC ^ | Tue, May 5 2020 5:41 AM EDT | al-Reuters
    United Airlines plans to cut at least 3,400 management and administrative positions in October as the coronavirus pandemic crushes air travel demand, and has told pilots to brace for changes as well, according to two memos seen by Reuters. Chicago-based United is among the U.S. airlines that have accepted U.S. government payroll aid that bans job or pay cuts before Sept. 30. However, United and other carriers have warned that demand is unlikely to recover to pre-crisis levels by that date, forcing them to shrink in the fall. The United memos are the first indication of just how much major...
  • NBCUniversal Weighs Significant Layoffs at Media, Entertainment Units

    05/02/2020 3:40:31 AM PDT · by abb · 34 replies
    The Wall Street Journal ^ | May 1, 2020 | Joe Flint and Lillian Rizzo
    Comcast Corp. ’s NBCUniversal is reviewing operations across its portfolio of media and entertainment properties as part of a cost-cutting effort that could result in a significant reduction of staff, people familiar with the matter said. Discussions began this past week regarding cost-cutting measures, including layoffs, the people said. NBCUniversal’s holdings include the NBC broadcast network, the Universal Pictures movie studio, theme parks, NBC News and several entertainment cable channels. NBCUniversal Chief Executive Jeff Shell alluded to the review during Comcast’s earnings call Thursday. Asked how NBCUniversal was positioned to deal with the economic fallout from the coronavirus, Mr. Shell...
  • Tribune Publishing Announces Company-Wide Furloughs

    04/23/2020 5:04:50 AM PDT · by abb · 15 replies
    Media Post ^ | April 23, 2020 | Melynda Fuller
    After instituting pay cuts across its nonunion employees earlier this month, Tribune Publishing announced it will furlough employees across the company. Staffers will take three-week furloughs in one-week increments between May and July of this year to “ensure financial stability,” but will retain health benefits during those periods. Furloughs effect nonunion employees who make between $40,000 and $67,000 per year, the Chicago Tribune reports. As an alternative to a furlough, employees have the option of receiving a severance package and leaving the company. The move comes as the company experiences a further decline in advertising revenue amid the COVID-19 pandemic....
  • Arizona Cities, Towns Prepare For Dire Budget Season

    04/20/2020 9:31:39 AM PDT · by abb · 33 replies
    KJZZ radio ^ | April 20, 2020 | Ben Giles
    It’s budget season for Arizona cities and towns, and local leaders are scrambling to determine the impact the coronavirus will have on their spending plans in the next fiscal year. One common problem they all face is a significant drop in state-shared revenues, according to Tom Belshe, executive director of the League of Arizona Cities and Towns Those dollars, which are distributed by the state to incorporated cities and towns, make up a large share of local budgets. Cities get a portion of Arizona income taxes, sales taxes, gas taxes and the vehicle license tax you pay when registering your...
  • Sauer Brands to furlough 97 employees in Mauldin

    04/14/2020 6:05:54 AM PDT · by buckalfa · 10 replies
    WSPA News7 ^ | April 14, 2020 | WSPA Staff
    GREENVILLE, S.C. (WSPA) – Sauer Brands Inc., the parent company of Duke’s Mayonnaise, announced Monday it will be furloughing 131 employees nationwide. The company said 97 employees will be furloughed in Mauldin. “We want to emphasize that these are temporary furloughs and we expect to recall affected employees as needed as foodservice demand begins to return to pre-COVID-19 levels,” said Martin Kelly, president and CEO of Sauer Brands Inc. “We know this is a difficult time for everybody, particularly those who are directly affected, and we regret that circumstances have made this action necessary.” The employees will be paid through...
  • Q&A: Your most common unemployment questions[Ohio]

    04/07/2020 4:53:10 PM PDT · by buckalfa · 3 replies
    Portsmouth Daily Times ^ | April 7, 2020 | Mackenzi Klemann
    PORTSMOUTH— The novel coronavirus has put so many Ohioans out of work that the Ohio Department of Job and Family Services has received more than 1 million calls in March, overwhelming the system’s servers and phone lines — and creating untold frustration for newly jobless Ohioans struggling to apply for unemployment. Here are some brief answers to your most common questions. Why can’t I reach the unemployment office? Too many people are calling or using the website at once. If you’re unable to get through, the only recourse at this time is to keep trying until your application is submitted....
  • ‘It really tears at your heart:’ Boeing employee shares concern for planned layoffs

    04/03/2020 7:47:15 AM PDT · by SkyPilot · 12 replies
    Q13 Fox ^ | 2 Apr 20 | Steve Kiggans
    Our local economy is about to take yet another hit thanks to coronavirus. On Thursday, Boeing company leaders announced a plan to reduce the number of employees as worldwide demand for aircraft is expected to change drastically. Boeing’s CEO called the current economic climate ‘uncharted waters,’ and in order to stay successful, the company must make changes. Q13 News also spoke with a North Sound Boeing employee who worries the company will lose a workforce that has years of experience. “It really tears at your heart to see this,” the man told Q13 News. The employee asked Q13 News to...
  • Dem plan for minimum wage 'just isn't workable,' says McDonald's ex-CEO

    02/24/2020 7:46:45 AM PST · by rktman · 67 replies ^ | 2/22/2020 | Jack Davis
    A proposal from Democratic presidential candidate Tom Steyer to increase the federal minimum wage to $22 per hour would body-slam the economy, according to a former CEO of one of America's major corporations. Earlier this month, Steyer proposed increasing the federal minimum wage, which is currently $7.25 per hour, to $22 per hour, according to Fox Business. Other major Democratic presidential candidates have lined up behind a $15 minimum wage, according to The Washington Post.
  • Canadian Rail Companies Lay Off More Than 1000 Workers Because of Ongoing Protests Against Pipeline, Court Grants Injunction Against Protests

    02/19/2020 7:35:28 PM PST · by SeekAndFind · 19 replies
    Hotair ^ | 02/19/2020 | John Sexton
    Canadian rail companies have announced temporary layoffs because of the ongoing protests against a natural gas pipeline which has shut down much of the country’s rail system for nearly two weeks. Today, VIA Rail announced it would lay off 1,000 workers: “Until CN Rail opens the remaining tracks for service, VIA Rail has no choice but to continue the cancellation of its services on a large part of its network,” Via Rail said in a statement. “It is with sincere regret that we must proceed with temporary employee suspensions.”Chief executive Cynthia Garneau called the service interruption due to a...
  • Norfolk Southern closes Roanoke Distribution Center, moves Locomotive Shop work to PA

    02/18/2020 3:00:57 PM PST · by buckalfa · 11 replies
    WDBJ 7 ^ | February 18, 2020 | WDBJ Staff
    ROANOKE, Va. (WDBJ7)-- Norfolk Southern has announced the closure of its Roanoke Distribution Center, and says work associated with its Roanoke Locomotive Shop (East End) will move to Altoona, Pennsylvania. The plan is for employees at the Roanoke Distribution Center to continue working through about April 18, 2020, and those at the Roanoke Locomotive Shop will work until about May 18, 2020. The company says all roughly 85 mechanical workers will be offered the opportunity to relocate to the Juniata Locomotive Shop and continue their employment with Norfolk Southern. Nineteen clerical positions are being eliminated. The company says it will...