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Keyword: layoffs

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  • Twitter Planning Hundreds More Job Cuts As Soon As This Week

    10/24/2016 6:00:15 PM PDT · by SkyPilot · 17 replies
    Boomberg Technology ^ | 24 OCt 16 | Sarah Frier
    ➞ Company may announce around third-quarter earnings report ➞ Twitter said to plan cut of about 8 percent of workforce Twitter Inc. is planning widespread job cuts, to be announced as soon as this week, according to people familiar with the matter. The company may cut about 8 percent of the workforce, or about 300 people, the same percentage it did last year when co-founder Jack Dorsey took over as chief executive officer, the people said. Planning for the cuts is still fluid and the number could change, they added. The people asked not to be identified talking about private...
  • TD Ameritrade buying rival brokerage Scottrade for $4 billion; STL will lose hundreds of jobs

    10/24/2016 12:42:25 PM PDT · by Da Bilge Troll · 39 replies (St. Louis Post-Dispatch) ^ | October 24, 2016 | Lisa Brown
    Discount brokerage Scottrade is being acquired by rival TD Ameritrade in a $4 billion deal. The companies announced the deal early Monday, following several weeks of news reports about the merger. The sale is subject to regulatory approvals, and is slated to close by Sept. 30, 2017. Scottrade will convert to TD Ameritrade systems in 2018. Combined, the two companies have $944 billion in total client assets and 10 million funded client accounts. "It gives us a lot of power to combine the two," Scottrade's founder and CEO Rodger Riney told the Post-Dispatch Monday. "It is a business that has...
  • Dodging the Jobs Problem (or how the NY Times explains the loss in jobs)

    10/17/2016 6:32:27 AM PDT · by bobsunshine · 13 replies
    The NY Sun ^ | October 17, 2016 | Editor
    Imagine you are an editorial writer of the New York Times (a stretch to be sure, but stay with us). Your biggest problem in the Age of Obama has to be that despite all the Democrats claims to have steered us into a recovery, jobs are lacking. Supposedly the unemployment rate has been brought down to 5%. But thats because the job participation rate is at its lowest point in decades as millions of Americans are still too discouraged to look for work. How do you work around this pesky problem? Dang, if the Times hasnt come up with its...
  • Office Furniture Company Closing Orleans Plant (Indiana - 467 laid off)

    10/16/2016 7:56:48 PM PDT · by 2ndDivisionVet · 9 replies
    Inside Indiana Business ^ | October 12, 2016 | Alex Brown, Multimedia Journalist
    ORLEANS - Orleans-based Paoli LLC has announced it is closing its manufacturing plant. In a notice to the state, the office furniture company says closure will result in the layoffs of nearly 500 employees in the Orange County town. The company says the layoffs of 467 workers are expected to be permanent. Employees will be terminated beginning in January with most of the layoffs taking place between March and October of 2017. Paoli did not disclose a reason for the closure of the plant.
  • Ex-Yahoo employee sues Marisa Mayer claiming she led an illegal purge of male employees

    10/07/2016 9:32:10 AM PDT · by C19fan · 56 replies
    UK Daily Mail ^ | October 7, 2016 | Staff
    A media executive who was fired from Yahoo last year is suing CEO Marissa Mayer, accusing her of running a campaign to purge the company of male employees. The lawsuit filed by Scott Ard in federal district court in San Jose this week states: 'Mayer encouraged and fostered the use of an employee performance-rating system to accommodate management's subjective biases and personal opinions, to the detriment of Yahoo's male employees.'
  • The 'Quiet Catastrophe' Of Men Choosing To Not Seek Work

    10/06/2016 4:00:53 AM PDT · by expat_panama · 294 replies
    Investors Business Daily ^ | 10/06/2016 | GEORGE F. WILL
    The "quiet catastrophe" is particularly dismaying because it is so quiet, without social turmoil or even debate. It is this: After 88 consecutive months of the economic expansion that began in June 2009, a smaller percentage of American males in the prime working years (ages 25 to 54) are working than were working near the end of the Great Depression in 1940, when the unemployment rate was above 14%. If the labor force participation rate were as high today as it was as recently as 2000, nearly 10 million more Americans would have jobs. The work rate for adult men...
  • Regency Beauty Institute announces closing (All 79 campuses)

    10/03/2016 4:34:35 PM PDT · by 2ndDivisionVet · 21 replies
    The Dayton Daily News ^ | September 29, 2016 | Staff
    The Regency Beauty Institute has closed after more than 50 years of educating cosmetology students. The institute announced on its website that it permanently closed on Wednesday, impacting all 79 campuses, including the Miami Twp. campus at 2040 Miamisburg Centerville Road. This is incredibly difficult news for everyone affected: especially our students, teachers, and staff, Regencys website says. We recognize that some of you may be finding this out for the first time by reading this. We are truly sorry for the abrupt nature of this information. The institute said that it does not have the money to continue to...
  • This is Why the Job Market Stinks, but No One is Talking about it

    09/23/2016 10:27:52 AM PDT · by Lorianne · 29 replies
    Wolf Street ^ | 21 September 2016 | James Murray
    Anyone who pays any attention knows that something unusual is happening to employment. Good full time jobs are disappearing, being replaced by lower paying and part time jobs. Experts and especially politicians have explanations and excuses: Offshoring to lower labor countries, excessive rules and regulations, illegal aliens, lack of education in the workforce. The list goes on and on. What I rarely hear: automation. When most people hear automation, they think robots. Most robots are dedicated and expensive and dont replace that many people. Automation or computer control is what gets the majority of the jobs, and it is not...
  • Politico: Clinton Foundation to Lay Off Dozens

    09/22/2016 11:53:24 AM PDT · by Jim 0216 · 46 replies ^ | 9/21/16 | JOEL B. POLLAK
    The Clinton Foundation is planning to drop dozens of employees as it winds down most operations, according to a report by Politico, citing two former Clinton Foundation officials who remain in communication with staff. The layoffs come after media investigations, led by Breitbart editor Peter Schweizer, whose 2015 book Clinton Cash alleged a pay-to-play pattern in which the Clintons courted donations from foreigners and businesses with matters pending before the State Department. The Clintons say they are closing down much of the foundations work, and severing many though not all personal ties to the organization, in anticipation of...
  • Senator from Punjab: How Hillary Clinton Masterminded a Global Scheme to Replace American Workers

    09/21/2016 5:42:59 AM PDT · by detective · 31 replies
    Breitbart ^ | 20 Sep 2016 | Julia Hahn
    Hillary Clinton co-founded the Senate India Caucus, which anti-offshoring advocates say champions issues important to India, including outsourcing and H-1B and L-1 visas. Clinton in 2005: I am delighted to be the Senator from Punjab as well as from New York. Clinton has called for nearly doubling the controversial H-1B guest worker programsuggesting that American workers lack the skills to fill American jobs. She has also defended the cheap labor practices of an Indian outsourcing firm, to which the Clinton Foundation has financial ties: We are not against all outsourcing; we are not in favor of putting up fences, she...
  • McDonalds Hires Foreign H-1Bs, Fires 70 American Accounting Staff

    09/20/2016 8:44:12 PM PDT · by Lorianne · 37 replies
    Brietbart ^ | 18 September 2016 | Neil Munro
    I can't copy from Breitbart for some reason. Their site is so buggy. If someone can post an excerpt I'd be grateful.
  • McDonalds Hires Foreign H-1Bs, Fires 70 American Accounting Staff

    09/19/2016 1:26:47 AM PDT · by Enlightened1 · 88 replies
    Breitbart ^ | 09/18/16 | Neil Munro
    An iconic American company, McDonalds, has quietly outsourced the jobs of 70 white-collar professionals in Ohio to foreign H-1B workers. The H-1Bs outsourcing in the nations heartland showcases the growing corporate effort to use foreign H-1B workers to cut workforces of American white-collar professionals, and it comes after companies have used waves of legal and illegal migrants to slash blue-collar jobs and wages in Ohio and around the country. Also, the 70 Ohio jobs that McDonalds outsourced to lower wage foreign graduates are not Silicon Valley technology and software jobs theyre white-collar accounting jobs performed by graduates from mainstream...
  • Could Ford moving to Mexico move Michigan into Trump's column?

    09/18/2016 4:20:31 PM PDT · by 2ndDivisionVet · 70 replies
    The Sun Prairie Star ^ | September 18, 2016 | Natalia Castro, Americans for Limited Government
    Ford Motor Co. is the classic example of an all-American company, but now they are better representing what ails the American economy, as they are being forced overseas. As Ford begins plans to build a $1.6 billion auto assembly plant in Mexico for small car production, the company continues to experience the pressure of globalization crushing their American business dreams. Ford was a classic Michigan company, but as Detroit News reported Michael Martinez reports, "It will employ 2,800 at the new Mexican plant by 2020." It is no surprise Ford has to modify their building model in order to compete,...
  • Dell-EMC to Lay Off 2,000 3,000 US Workers after Requesting 5,000 H-1B Visas

    09/09/2016 11:43:16 AM PDT · by Sgt_Schultze · 114 replies
    Wolf Street ^ | 9 September 2016 | Wolf Richter
    The ink was barely dry on Dells acquisition of EMC, the largest technology deal ever, valued at $67 billion when it was announced in October last year and already the layoff rumors are oozing from the woodwork.snip But Dell needs to save some money, one way or the other. Dells corporate credit rating is at the upper end of junk. Its loaded to the gills with debt, stemming from when it was taken private. Now the EMC deal has piled new debt on the company, including $20 billion of bonds it sold in May, followed by a $5-billion leveraged...
  • Goshen Coach intends to close facility in Elkhart (About 160 layoffs, Indiana)

    09/06/2016 11:02:43 PM PDT · by 2ndDivisionVet · 3 replies
    The South Bend Tribune ^ | September 1, 2016 | Ted Booker
    ELKHART Goshen Coach, a commercial bus manufacturer, announced it will close its Elkhart facility on Oct. 31 and expects to lay off 159 employees. The company filed a Worker Adjustment and Retraining Notification on Wednesday with the Indiana Department of Workforce Development to announce the plan to close the facility at 25161 Leer Drive. It plans to offer "severance benefits and transition programs to affected employees," according to the notice, which does not explain why the plant will be shut down. Company officials could not be reached Wednesday for comment. Goshen Coach, which has manufactured specialty vehicles since 1985,...
  • Report: Up To 80% Of Current Jobs Threatened By Technology

    09/05/2016 1:41:09 PM PDT · by 2ndDivisionVet · 46 replies
    The Daily Caller ^ | September 5, 2016 | Ted Goodman
    More than 70 percent of manufacturing jobs and more than half of jobs involving data collection might be rendered obsolete by automation and robots, according to a report from McKinsey & Company. One study estimated up to 80 percent of current jobs may be threatened by automation, which could become a critical economic issue for policy makers and global leaders in the coming decades. While Americans celebrate Labor Day weekend, it is a good time to contemplate the rise in artificial intelligence and how it can threaten jobs in all types of industries....
  • States largest private ambulance service closing (North Carolina, 400 laid off)

    09/04/2016 1:46:24 PM PDT · by 2ndDivisionVet · 34 replies
    WGHP-TV ^ | August 31, 2016 | Chad Tucker
    DURHAM, N.C. -- Johnston Ambulance Service, the state's largest private ambulance service is closing at the end of Wednesday, putting around 400 full and part-time employees out of a job. "We do a lot of transports, across the state and Virginia," said one employee from the Triad who did not want to be identified. "There are many people who don't know what they will do next, some have weddings coming up." The private ambulance service, based in eastern North Carolina, serves thousands of patients across the state with non-emergency transportation for treatments like dialysis and wound care -- including right...
  • Bombardier hands out pink slips as part of effort to cut 7,000 workers

    08/29/2016 3:03:27 PM PDT · by Lorianne · 25 replies
    Financial Post ^ | 26 August 2016
    Bombardier handed out pink slips Friday to aerospace employees in Montreal as part of its efforts announced in February to trim 7,000 workers over two years. The Montreal-based company declined to say how many workers were being affected by the latest layoff notices, how many cuts have already been made, or what aircraft programs are being affected. Mark Masluch, spokesman for Bombardier business jets, said the layoffs are a continuation of the workforce optimization plan being implemented across the company. The union representing machinists said the uncertainty about efforts to save jobs is creating frustration for workers. It warned last...
  • Minimum Wage Claims Its Latest Victims - Ashley Furniture Slashes 840 Jobs In California

    08/29/2016 5:35:32 AM PDT · by Rockitz · 57 replies ^ | Aug 28, 2016 | Tyler Durden
    A few weeks back we pointed out a couple of the reasons that businesses are fleeing California by the 1,000's ("3 Simple Charts That Help Explain Why 9,000 Businesses Have Left California In Just 7 Years"). Clearly the implementation of a State-wide $15 minimum wage hasn't helped "lure" business owners. On Friday, Ashley Furniture's 840 employees working in the company's production and warehouse facility in Colton, California became the latest victims of California's minimum wage hike. Ashley announced they would be leaving open their retail store in Colton, but would be relocating the production facility that accounts for most of...
  • Anheuser-Busch Expects Major Layoffs After It Buys SABMiller (5,500 jobs)

    08/28/2016 8:45:48 PM PDT · by 2ndDivisionVet · 40 replies
    Fortune ^ | August 26, 2016
    Anheuser-Busch expects to cut some 3% of its combined workforce after it has acquired rival SABMiller, according to takeover documents published on Friday. That would be some 5,500 jobs, according to a source with information on the offer. AB is aiming to achieve pre-tax savings of at least $1.4 billion per year within the four years after completion of the takeover through increased efficiency, sharing best practices and the removal of overlaps in corporate and regional headquarters....
  • Coal towns hit by layoffs to get job grants from US gov't

    08/24/2016 7:52:52 PM PDT · by Olog-hai · 37 replies
    Associated Press ^ | Aug 24, 2016 5:26 PM EDT | John Raby
    Communities in nine U.S. states that have been hard-hit by coal layoffs are being promised more than 3,000 jobs in several industries through a multimillion-dollar federal grant. Officials for the Appalachian Regional Commission and other agencies announced the 29 projects totaling nearly $39 million Wednesday at a news conference in Huntington, West Virginia. The investments are expected to create or retain more than 3,400 jobs in agriculture, health care, manufacturing, technology and other industries. The projects are intended to help communities in Texas and in eight Appalachian states: Alabama, Kentucky, Mississippi, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia.
  • Early data show $15 minimum hurting Seattle's poor

    08/21/2016 3:03:54 PM PDT · by Olog-hai · 34 replies
    Washington Examiner ^ | 8/13/16 12:01 AM | Sean Higgins
    As recently as last year, the Democratic Partys leaders thought the idea of a $15 federal minimum wage was unrealistic and even pushed back against it. That ended in July when the official party platform, bowing to pressure from organized labor and Sen. Bernie Sanders and his supporters, adopted a call for a $15 federal minimum, more than double the current rate of $7.25 an hour. [] When Seattle increased its minimum to $15 in 2014, a boost of nearly $6 an hour, it also commissioned a study of the increases effect by the University of Washington. A report released...
  • Fed Survey: Obamacare Causing Companies to Cut Jobs

    08/17/2016 1:56:24 PM PDT · by Brilliant · 15 replies
    WSJ ^ | Aug 16, 2016 | Vipal Monga
    Many companies are cutting jobs in response to rising health care costs spurred by the Affordable Care Act, according to a new survey by the Federal Reserve Bank of New York. Roughly one-fifth of service sector and manufacturing company executives said they are reducing the number of workers in response to provisions in the healthcare law... The New York fed surveyed about 100 executives in the manufacturing sector and roughly 150 executives in the services sector located in New York State, Northern New Jersey and Fairfield County, Connecticut... The results add to a bevy of bad news related to the...
  • Target cuts outlook as it sees fewer customers in stores

    08/17/2016 1:38:05 PM PDT · by Morgana · 64 replies ^ | August 17, 2016 | ANNE D'INNOCENZIO,
    NEW YORK (AP) Target Corp. cut its profit forecast and a key sales outlook Wednesday as it saw fewer customers in its stores and acknowledged it didn't push the second part of its "Expect More, Pay Less" slogan. The Minneapolis-based discounter's second-quarter net income fell nearly 10 percent, though that was better than what most had expected. Sales at stores open at least a year fell 1.1 percent, reversing seven straight quarters of gains. Its main competitor, Wal-Mart Stores Inc., reports results Thursday. Target's shares fell $4.74, or 6 percent, to $70.74 in afternoon trading.
  • Cisco Systems to lay off about 14,000 employees: Report

    08/17/2016 5:01:58 AM PDT · by mykroar · 64 replies ^ | 8/17/2016 | Reuters
    Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company. San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization. Apart from Cisco, two other big software companies, Microsoft Corp and HP Inc, have also announced job cuts this year.Microsoft said in July that it would lay off about 2,850 jobs over the next 12 months, taking its total...
  • Ruby Tuesday to close 95 restaurants

    08/12/2016 4:24:57 PM PDT · by Extremely Extreme Extremist · 85 replies
    Ruby Tuesday plans to close 95 restaurants throughout the country, the company announced. The locations of the restaurants to be closed have not been released, but the restaurants will be shutting down quickly. According to the company's press release, the under-performing locations will stop operations by September. Ruby Tuesday's had 724 restaurants as of May 31, and 646 of those were company-operated.
  • Macy's plans to close 100 stores, boost online investment

    08/11/2016 5:53:41 AM PDT · by Olog-hai · 87 replies
    Associated Press ^ | August 11, 2016
    Macys says it plans to close about 100 stores next year as the department store operator aims to become more nimble in a competitive market. That represents close to 14 percent of its store base. [] The nations largest department store chain says that it earned $11 million, or 3 per share, in the quarter ended July 30. That compares with $217 million, or 64 per share, in the year-ago period.
  • Chicago schools lays off 1,000, about half are teachers

    08/05/2016 6:21:09 PM PDT · by Olog-hai · 19 replies
    Associated Press ^ | Aug 5, 2016 5:05 PM EDT
    Chicago Public Schools will lay off about 1,000 employees, nearly half of whom are teachers. Officials with the nations third-largest school district characterized the layoffs Friday as part of the normal yearly staff movement between schools and that they expect most people will be hired for other jobs. CPS has about 1,000 teaching vacancies.
  • Here's what the real unemployment rate looks like

    08/05/2016 11:44:06 AM PDT · by BenLurkin · 12 replies
    cnbc ^ | 08/05/2016
    The U.S. unemployment rate remained at 4.9 percent in July, the Labor Department said Friday. But relying on that one number as an indicator of the job market is an oversimplification of the complicated world of employment. Each month on jobs Friday, the Labor Department's Bureau of Labor Statistics puts out a slew of employment-related data, each of which tells its own story about the jobs situation. Most economists look past the official unemployment rate also known as the "U-3" number to other metrics that provide other views of the state of jobs. One of those figures is...
  • Raising The Minimum Wage In Seattle Had Utterly Predictable ResultsBut Liberals Probably Don't Care

    07/31/2016 4:04:56 PM PDT · by RoosterRedux · 42 replies ^ | Matt Vespa
    Raise the minimum wage in Seattle they said. It will help workers they said. Well, the city did increase the minimum wage from the previous rate of $9.47 to $15, which is to be phased in by 2018. Its now at $11, and lo and behold it has hurt workers. A study found that workers wouldve already seen an increase in wages without the hike because of the increased economic activity and more wouldve been employed. Instead, hours were cut, fewer people worked, and all of this was [predictable]: The average hourly wage for workers affected by the increase jumped...
  • New York Times reports another loss as ad sales decline

    07/28/2016 8:03:35 AM PDT · by mandaladon · 42 replies
    Yahoo News ^ | 28 Jul 2016
    July 28 (Reuters) - The New York Times Co reported its second quarterly loss in a row as print and digital advertising sales declined. Print ad revenue fell 14.1 percent, the eighth straight quarterly decline. Digital ad revenue, which accounts for about a third of total ad revenue, dropped 6.8 percent, the second straight quarterly decline. The Times posted a net loss of $211,000 attributable to shareholders for the second quarter ended June 26, compared with a profit of $16.4 million the year-earlier quarter. On an adjusted basis, the company earned 11 cents per share from continuing operations, matching the...
  • 18 states see significant job gains, but unemployment rises

    07/22/2016 8:13:15 AM PDT · by BenLurkin · 5 replies
    WaPo ^ | 07/22/2016
    n Colorado, the rate jumped 0.4 point from May to a still-low 3.7 percent as more of its population began looking for work without being hired, a positive for the economy as it suggests greater optimism that these people will find jobs. A similar trend played out in five other states: Nevada and Oregon each saw a 0.3 percent increase, while rates went up 0.2 points in California, Maine and South Dakota. Those trends correspond with the national report that saw the unemployment rate rise from 4.7 percent in May to 4.9 percent as more workers started searching for jobs.
  • Biggest private coal producer warns of cutting 80 percent of workforce, head blames Obama policies

    07/02/2016 12:27:15 PM PDT · by PROCON · 21 replies
    The Wall Street Journal ^ | July 2, 2016 | The Wall Street Journal
    Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices. In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets. The company said it anticipates massive workforce reductions in September. The law requires a 60-day waiting period before large layoffs occur.
  • Wendys Eyeing Self-Service Kiosks In Effort To Cut Labor Costs

    06/18/2016 7:04:43 AM PDT · by BenLurkin · 33 replies
    The fast-food chain has plans to replace some workers with the touch-screen technology in an effort to save on labor costs. By the end of the year, thousands of Wendys locations across the country will be offered the kiosks, while franchise-operated stores will have the option of whether to use the technology. ... This year, minimum-wage rose to $10 an hour in California and will gradually rise to $15. Wendys president and chief financial officer, told Investors Business Daily that labor costs have gone to five to six percent in the past year. ... On social media, there were mixed...
  • Wife just got laid off, retirement, age 59 1/2 relevant?

    06/18/2016 7:08:00 AM PDT · by George from New England · 71 replies
    Wife worked full-time at an organized church office for 9 1/2 years now. Worked 35 hours a week and received insurance and health care benefits, etc. Fiscal year cycles at June 30. She was the elimination of her position this past week and given the option to continue at 19 hours a week, part time. She has said no, she needs a job with benefits. They surprised her yesterday, Friday, with her last day worked. Their letter says she is paid until end of June and 4 weeks into July for sick days and left over vacation time. Now her...
  • Bank Of America Set To Fire 8,000 As Banker Layoffs Accelerate

    06/15/2016 11:02:03 AM PDT · by dennisw · 19 replies
    zerohedge ^ | Jun 15, 2016 | Tyler Durden
    A few months ago we pointed out that mass layoffs were coming for bankers due to declining revenues and more difficult market conditions, and now we're seeing the first major wave of that come to fruition. Bank of America has announced that it will fire as many as 8,000 employees within its consumer division the FT reports.The core reason given for the headcount reduction in this instance is that digital banking is picking up the pace, and has reduced the need for "back office staff" and bank tellers. This is a trend that BofA highlighted in its In its Q1...
  • Nearly Half of D.C. Employers Said They Have Laid Off Workers, Reduced Hours Due to Minimum Wage

    06/07/2016 9:11:27 AM PDT · by Olog-hai · 14 replies
    Washington Free Beacon ^ | June 7, 2016 5:00 am | Ali Meyer
    Nearly half of Washington, D.C. employers said they have either laid off employees or reduced the hours of employees to adapt to the District of Columbias minimum wage hikes since 2014, according to a report from the Employment Policies Institute. The minimum wage in the District of Columbia has increased from a $8.25 hourly rate in 2014 to the current rate of $11.50 per hour. Mayor Muriel Bowser advocated a $15 minimum wage in her State of the District address earlier this year. In recent months, the City Council in D.C. has considered enacting a number of new labor mandates,...
  • Ex-CEO of McDonalds: $15 Minimum Wage To Cause Job Loss Like Youre Not Going to Believe

    05/25/2016 2:58:54 PM PDT · by 2ndDivisionVet · 46 replies
    Breitbart's Big Government ^ | May 24, 2016 | Jerome Hudson
    Former McDonalds CEO Ed Rensi appeared on Fox Business Network and warned progressive groups against $15 per hour minimum-wage hikes. I was at the National Restaurant Show yesterday and if you look at the robotic devices that are coming into the restaurant industry its cheaper to buy a $35,000 robotic arm than it is to hire an employee whos inefficient [while] making $15 an hour bagging French fries, Rensi said Tuesday. Its nonsense and its very destructive and its inflationary and its going to cause a job loss across this country like youre not going to believe, Rensi added....
  • New York Times Co. to Offer Buyouts to Employees

    05/25/2016 7:20:51 AM PDT · by McGruff · 38 replies
    The NY Times ^ | MAY 25, 2016 | KATIE ROGERS
    The New York Times will offer voluntary buyout packages to members of the newsroom and several business departments at the end of the month, the company announced on Wednesday. In a memo, members of the executive committee, including Arthur Sulzberger Jr., the newspapers publisher, and Dean Baquet, its executive editor, said that the buyouts were a part of the companys larger mandate to build a more digitally focused newsroom, and to reach its stated goal of doubling digital revenue by the year 2020. These plans will no doubt lead to new initiatives and investments, the memo said. At the same...
  • Wendys moves to self-service ordering as minimum wage rises

    05/12/2016 12:07:32 PM PDT · by Trump20162020 · 150 replies
    HotAir ^ | May 12, 2016 | John Sexton
    Investors Business Daily reported Wednesday that fast food chain Wendys will be expanding the use of self-service kiosks in response to the rising minimum wage: Wendys said that self-service ordering kiosks will be made available across its 6,000-plus restaurants in the second half of the year as minimum wage hikes and a tight labor market push up wages. It will be up to franchisees whether to deploy the labor-saving technology, but Wendys President Todd Penegor did note that some franchise locations have been raising prices to offset wage hikes Other fast food chains are also experimenting with self-service kiosks. McDonalds...
  • President Obamas Economic Legacy

    05/10/2016 9:03:43 AM PDT · by Academiadotorg · 12 replies
    Accuracy in Academia ^ | May 10, 2016 | Roger Aronoff
    As President Obama's second term nears its end he has begun a media tour emphasizing what he claims are the positive aspects of his policies. The complicit media, of course, have long worked to inflate positive impressions of Obamas legacy, and this latest set of interviews is no different. "In two recent interviews, with The New York Times Magazine on his economic legacy and with The Atlantic on his foreign policy legacy, Mr. Obama expressed a common sentiment: He had achieved big things and avoided even bigger mistakes, and yet most people just shrug," wrote Mark Landler for The New...
  • 50,000 Laid Off In Saudi Arabia As Oil Crisis Bites Deeper

    05/09/2016 10:01:22 AM PDT · by bananaman22 · 19 replies ^ | 09-05-2016 | Savages
    Saudi construction giant Binladin group has laid off tens of thousands of workers, leading to rare protests, as workers torch seven buses demanding compensation as low oil prices begin to bite in earnest. The numbers of layoffs range from 50,000 to 77,000, many of who say they were not paid for several months. Binladin group, which last year had all of its contracts frozen after a crane fell over the Grand Mosque in Mecca, killing 107, denied that it owed its workers any compensation. The company said the layoffs were a routine adjustment to a slowdown in construction activity in...
  • The Next Employment Crisis Is Here: Job Cuts At U.S. Companies Jump 35 Percent In April

    05/08/2016 5:32:39 PM PDT · by SeekAndFind · 27 replies
    TEC ^ | 05/08/2016 | Michael Snyder
    Should we be alarmed that the number of job cuts announced by large U.S. companies was 35 percent higher in April than it was in March? This is definitely a case where the trend is not our friend. According to Challenger, Gray & Christmas, U.S. firms announced 65,141 job cuts during April, which represented a massive 35 percent increase over the previous month. And so far this year overall, job cut announcements are running 24 percent higher than for the exact same period in 2015. Meanwhile, on Thursday we learned that initial claims for unemployment benefits shot up dramatically...
  • Subway Is In Big Trouble

    05/06/2016 6:31:27 AM PDT · by JoeProBono · 128 replies
    breaking911 ^ | May 3, 2016 | T. Grant Benson
    Subway Revenue Drops as It Closes Hundreds of U.S. Restaurants Subway Restaurants revenue fell in 2015 for the second straight year, a sign one of the fast-food industrys stalwarts is losing ground to newer chains. Revenue dropped 4.3 percent to $1.11 billion last year, according to the companys Franchise Disclosure Document, which was filed with the Minnesota Department of Commerce last week. Subway owner Doctors Associates Inc. also is slowing its pace of new restaurant openings and shuttering hundreds of underperforming locations. Fast-casual chains such as Panera Bread Co. have been taking share from Subway restaurants in the U.S., bringing...
  • Aeropostale: One of the hottest teen brands from a decade ago just filed for bankruptcy

    05/04/2016 9:12:39 AM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 05/04/2016 | Mallory Schlossberg
    Aeropostale used to be one of the most popular teen retailers. Cheaper than Abercrombie & Fitch, and less bohemian than American Eagle, the brand was the go-to for teens who still wanted to fit in with the trends. But those days are gone. The retailer has filed for bankruptcy protection, though it says it will be out of debt in six months. Last June, Crain's New York reported that the retailer lost 95% of its value in just five years. The brand has plans to close 113 stores in the US and all 41 stores in Canada. According to Reuters,...
  • What MakerBot exit means for N.Y.C. and the 3D business

    05/03/2016 6:32:31 PM PDT · by CutePuppy · 10 replies
    New York Business Journal ^ | 2016 April 27 | Teresa Novellino
    It was a double whammy for Brooklyn and New York City manufacturing this week with news that 3D printer company MakerBot Industries would be laying off local workers as it shifts its production work, although not its headquarters, to China. It is doing so through St. Petersburg, Florida-based Jabil Circuit (NYSE: JBL), one of the largest contract manufacturers in the world, which has facilities in China. The reasons behind this decision are myriad. Chief among them are the competitive headwinds in the 3D consumer printer business itself, and the high cost of doing business in New York City, ..... <...
  • Sports Authority Files for Bankruptcy: 450-Store Closure Could Leave 14,500 People Jobless

    05/02/2016 8:49:41 PM PDT · by Hojczyk · 62 replies
    Breitbart ^ | May 2,2016 | Jerome Hudson
    Outdoor apparel giant Sports Authority has filed for Chapter 11 bankruptcy protection and the retail chain could close all or most of its 450 stores nationwide as it struggles to pay off a reported $1 billion debt. Sports Authority is pursuing a sale of some or all of the business, a company statement said. We have received initial expressions of interest from a number of potential buyers, and we are optimistic about the results of the sale process. Founded in 1928, the athletic apparel retailer was once the largest sporting goods chain in America. In the years after its 2006...
  • Unemployment rises among Bernie Sanders campaign staffers [Sanders Campaign shedding workers]

    04/28/2016 4:27:27 PM PDT · by SeekAndFind · 12 replies
    Hotair ^ | 04/28/2016 | Jazz Shaw
    The economy may be experiencing a steady, if tepid recovery, but there are still layoffs taking place. I don’t just mean the ones at Lockheed Martin here, but rather inside the campaign organization of Bernie Sanders. With most of the states having already voted, Sanders’ team is shedding workers this week and they number in the hundreds. (CNN) Bernie Sanders’ campaign is laying off more than 200 workers, campaign manager Jeff Weaver said Wednesday.The campaign is downsizing from its current 550-member team to between 325 to 350 workers, said Weaver, who added that at one point the Sanders’ staff...
  • 40 Layoffs As Glenn Becks Blaze Empire Continues Its Decline and Fall

    04/28/2016 1:12:44 PM PDT · by austinaero · 181 replies
    The Daily Beast ^ | 04/28/2016 | Lloyd Grove
    The axe fell once again on Glenn Becks crumbling media empire Thursday as employees in the New York and Washington offices of The Blaze, Becks multi-media online operation, along with business staffers in Los Angeles and the documentary unit in Columbus, Ohio, were told their jobs are on the chopping block, according to multiple sources who spoke The Daily Beast on condition of anonymity.
  • In 1 Out Of Every 5 American Families, Nobody Has A Job

    04/27/2016 6:20:35 PM PDT · by SeekAndFind · 24 replies
    TEC ^ | 04/27/2016 | Michael Snyder
    If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last week, I discussed the fact that the Federal Reserve has found that 47 percent of all Americans would not be able to come up with $400 for an unexpected visit to the emergency room without borrowing it or selling something. But Barack Obama and his minions never bring...