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Keyword: layoffs

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  • Barclays Latest To Exit Commodity Trading, Layoff Several Thousand Staff

    04/20/2014 4:28:28 PM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 04/20/2014 | Tyler Durden
    With JPMorgan and Deutsche Bank having exited the commodities business (and numerous other banks discussing it ahead of the Fed and regulators' decisions over banking rules of ownership), it appears a few short months of regulatory scrutiny is enough to warrant more broad-based cuts across bulge-bracket banks historically most manipulated and profitable business units. As The FT reports, Barclays, one of the world’s biggest commodities traders, is planning to exit large parts of its metals, agricultural and energy business in a move expected to be announced this week. This comes on the heels of Barclays shuttering its power-trading operations...
  • Unemployment rates fall in 21 US states last month

    04/18/2014 9:21:59 AM PDT · by SeekAndFind · 11 replies
    Washington Post ^ | 04/18/2014
    More than two-thirds of the states reported job gains in March, as hiring has improved for much of the country during what has been a sluggish but sustained 4 1/2-year recovery. The Labor Department said Friday that unemployment rates dropped in 21 states, rose in 17 and were unchanged in the remaining 12. Meanwhile, hiring increased in 34 states and fell in 16. The unemployment rate varies from as low as 2.6 percent in North Dakota to as much as 8.7 percent in Rhode Island. South Carolina has experienced the sharpest rate decline over 12 months to 5.5 percent from...
  • Dozens Laid Off at Al Jazeera America

    04/13/2014 7:05:23 PM PDT · by dontreadthis · 38 replies
    The Hollywood Reporter ^ | 4/11/2014 | Erik Hayden
    Al Jazeera America, which launched last August with nearly 850 employees and 12 news bureaus in the United States, has laid off dozens of employees as part of restructuring. The channel is disbanding its sports unit and scaling back its social-media-driven show The Stream from a daily show to a once-a-week program.
  • Stanley Furniture Closing Robbinsville Plant (North Carolina)

    04/02/2014 10:17:02 PM PDT · by 2ndDivisionVet · 65 replies
    Woodworking Network ^ | April 1, 2014
    HIGH POINT, NC - Stanley Furniture Company, Inc. today reported it will cease domestic furniture production in the factory that supports its Young America brand. “We have a healthy Stanley business that is making money. It is supported by a wonderful heritage, strong product in the field and future pipeline, and we are looking forward to the prospects of focusing our team solely on the growth and profitability of this brand in the short-term” “We have decided to cease manufacturing operations in Robbinsville,” said Glenn Prillaman, President and Chief Executive Officer. “After a thorough review of both our own operations...
  • Hundreds of Jobs Lost as Store Chain Closes Due to ObamaCare and Minimum Wage Hike

    03/30/2014 12:13:09 PM PDT · by SeekAndFind · 23 replies
    Frontpage Mag ^ | 03/30/2014 | Daniel Greenfield
    By the time ObamaCare and the minimum wage get done wiping out jobs, everyone will need that basic guaranteed income that libs love talking about. Citing Obamacare and an increase in the stateÂ’s minimum wage, the owner of Waterford-based Yankee One Dollar is closing down shop on all 23 remaining locations.Its owner Keith Flike blamed the Affordable Care Act and the increase in the stateÂ’s minimum wage for the decision to shut down. Each store has six to 10 employees, he told the Post Star. Those are just more employees who have been liberated from job lock to explore their...
  • Yankee One Dollar Closing Remaining Stores Due to Obamacare

    03/30/2014 9:16:20 AM PDT · by lowbridge · 36 replies
    http://legalinsurrection.com ^ | march 28, 2014 | rusty weiss
    Citing Obamacare and an increase in the state’s minimum wage, the owner of Waterford-based Yankee One Dollar is closing down shop on all 23 remaining locations. Via the Times Union: Waterford-based Yankee One Dollar stores will be gone within the next five months, its owner told the Post Star of Glens Falls. Keith Flike blamed the Affordable Care Act and the increase in the state’s minimum wage for the decision to shut down. Each store has six to 10 employees, he told the Post Star. Yankee One Dollar has 23 stores, down from a peak of 39. The Daily Gazette reported...
  • North Adams hospital shutting down, 530 to lose jobs (Massachusetts)

    03/28/2014 5:56:45 PM PDT · by 2ndDivisionVet · 46 replies
    WNYT-TV ^ | March 27, 2014 | Staff
    (VIDEO-AT-LINK)NORTH ADAMS, Mass. – After 129 years, North Adams Regional Hospital is shutting down. Hospital workers were informed of the decision on Tuesday. Around 530 people will lose their jobs. The decision to shut down comes as the hospital files for Chapter 7 bankruptcy. It also affects the VNA & Hospice, along with the Northern Berkshire Healthcare Physicians Group. Current patients will be transferred to other facilities through April 4. The emergency room will close on Friday. “In the six years that I have been on the board we have investigated every possible avenue and exhausted all options as we...
  • Harrah's Casino in Tunica closing costs 1,300 jobs (Mississippi)

    03/28/2014 5:41:22 PM PDT · by 2ndDivisionVet · 57 replies
    The Sun-Herald ^ | March 26, 2014 | Mary Perez
    Caesars Entertainment announced in a press release Wednesday that it will close Harrah's Tunica on June 2. This is one of three casinos Harrah's operates in Tunica in northern Mississippi. The 1,300 jobs that will be lost makes this one of the biggest layoffs ever in Mississippi, said Richard Bennett, chairman of the House Gaming Committee. The layoffs come at a time when Tunica County had the highest unemployment in state in February at 17.3 percent. Bennett said 75 percent of the jobs are held by Mississippi residents, with the remaining 25 percent of the employees from Tennessee and Arkansas....
  • Walgreen To Close 76 Unprofitable Stores

    03/25/2014 4:56:04 PM PDT · by John W · 40 replies
    ctnow.com ^ | March 25, 2014 | Peter Frost
    Walgreen Co. on Tuesday said it plans to shutter 76 unprofitable drugstores by August as part of a plan to save $40 million to $50 million per year beginning in fiscal 2015. The drugstore chain, the nation's largest, declined to specify the locations of the stores slated to close aside from saying they're "spread across the country." Walgreen, based in Deerfield, IL, said it will confirm the closures in the coming months after it notifies employees. Most stores that will close either have had other Walgreen locations open in the same area or have seen real estate values decline since...
  • Toasty Or Toasted? Quiznos Follows Sbarro Into Bankruptcy [Obamanomics Fail]

    03/15/2014 3:53:14 AM PDT · by SoFloFreeper · 65 replies
    Forbes ^ | 3/16/14 | Brian Solomon
    Restaurant chains are dropping like flies this week. On Monday pizza franchise Sbarro dipped into Chapter 11 bankruptcy. Following in its footsteps on Friday, sub shop Quiznos announced that it too would sink into bankruptcy as part of a “pre-packaged” deal to cut its debt by more than $400 million, or two-thirds.
  • Nine Retailers Closing the Most Stores

    03/13/2014 7:02:11 PM PDT · by SeekAndFind · 28 replies
    Wall Street 24X7 ^ | 03/13/2014 | By Douglas A. McIntyre and Alexander E.M. Hess
    Brick-and-mortar retailers have been suffering from slow economic activity for years, as well as from increased competition from online retailers. The rise in store closings is a prominent sign of their struggles. Weakened companies cannot afford the real estate and personnel costs that go along with supporting hundreds of unprofitable locations. The clearest proof of the problem was Radio ShackÂ’s recent decision to close more than 1,000 stores. Radio Shack is hardly alone. During that last several years Gap has closed 20% of its locations. Even MacyÂ’s, which has forecast strong earnings and is considered the most successful of the...
  • The End of an Era: Fashion Discount Retailer Dots Files Chapter 11 Bankruptcy and Closes Its Doors

    03/11/2014 5:02:19 PM PDT · by 2ndDivisionVet · 9 replies
    FashInvest ^ | March 3, 2014 | Lolita A. Alford
    On February 27th, Gordon Brothers Group, a global advisory, restructuring and investment firm was awarded the store closing process for all locations by the bankruptcy court. Store closing sales will begin on March 1st and will involve significant discounts on all merchandise, as well as store furniture, fixtures and equipment in order to wind down company operations. “Our employees continue to do a tremendous job maintaining high quality standards and they are dedicated to fully serving our customers during this transition,” David Minnix, president of Dots, said. “We appreciate the continued support of our valued customers over the years and...
  • Staples to shutter 225 stores as sales move online

    03/11/2014 4:46:34 PM PDT · by 2ndDivisionVet · 33 replies
    (VIDEO-AT-LINK)FRAMINGHAM, Mass. (AP) — Staples will close up to 225 stores in North America by the end of next year as it seeks to trim about $500 million in costs annually by 2015. The nation’s largest office-supply retailer said Thursday that nearly half of its sales are now generated online, so it will aggressively cut costs to become more efficient....
  • Illinois layoffs: Employers warn of 1,000 layoffs in coming weeks

    03/09/2014 12:38:55 PM PDT · by FreeAtlanta · 26 replies
    CHICAGOTRIBUNE.COM ^ | 7:52 a.m. CST, March 7, 2014 | Alejandra Cancino
    <p>Illinois employers warned they would lay off more than 1,000 workers in the coming months, according to notices filed with Illinois regulators in February.</p> <p>Accretive Health warned it would lay off 148 workers. The company said in January the layoffs are part of a broader restructuring in which positions will be moved from Chicago to other cities to be closer to clients. Accretive said then the layoffs could affect as many as 170 workers. The company employs about 600 people in the region.</p>
  • Staples to shut 225 stores in North America as sales fall

    03/06/2014 4:24:24 AM PST · by Red in Blue PA · 119 replies
    (Reuters) - Staples Inc (SPLS), the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015. Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts' estimates. The company operates 1,515 stores in the United States and 331 stores in Canada.
  • just got laid off yesterday, would appreciate prayers

    03/05/2014 4:14:32 AM PST · by RaceBannon · 75 replies
    self | 03/05/2014 | racebannon
    just finished 6 months at a manufacturer, they are downsizing seasonally, I was an inspector on the production line, me and another inspector got it, more of the production crews are going to get laid off this week.
  • 481 Barclays Employees Were Paid Over 1 Million Pounds In 2013, Despite Losses, Mass Layoffs

    03/05/2014 9:30:05 AM PST · by SeekAndFind · 42 replies
    Zero Hedge ^ | 03/05/2014 | Tyler Durden
    It was less than a month ago when Barclays announced it would fire 12,000 workers after posting abysmal earnings with Q4 banking income crashing 37% and overall income sliding 9%. So, one would think, its employees would be punished with lower pay - those that are lucky enough to keep their jobs of course. One would be wrong. Reuters just reported that 481 of Barclays employees were paid 1 million pounds ($1.7 million) or more last year, 53 more than in the year before, and most of them were based in the United States.The headscratcher continues: Barclays said 57...
  • RadioShack Closing 1,100 Stores as Troubles Grow

    03/04/2014 5:08:26 PM PST · by kingattax · 73 replies
    ABC News/AP ^ | March 4, 2014 | CANDICE CHOI and MICHELLE CHAPMAN
    There will soon be about 1,100 fewer places to buy batteries. RadioShack said Tuesday that it plans to close up to 1,100 stores, or about a fifth of its U.S. locations. The news came as the retailer reported a wider quarterly loss after a disappointing holiday season. Its stock tumbled 16 percent in afternoon trading. CEO Joseph Magnacca said the closings would leave the company with more than 4,000 U.S. stores. That's still far more than Best Buy, which has roughly 1,400 U.S. locations, and makes RadioShack stores nearly as common as Wal-Mart. RadioShack didn't immediately identify which stores will...
  • Wells Fargo cuts 700 mortgage jobs

    02/27/2014 5:50:54 AM PST · by 2ndDivisionVet · 16 replies
    The Minneapolis/St Paul Star Tribune ^ | February 27, 2014 | Jennifer Bjorhus
    Wells Fargo cuts 700 employees, including 203 in the Twin Cities, as demand for mortgages declines.Wells Fargo & Co. said Wednesday that it is cutting 700 employees, including 203 in the Twin Cities, as demand for mortgages continues to shrink. The San Francisco-based bank said it notified affected employees Wednesday, and that almost all of them work at the Wells Fargo Home Mortgage campus in south Minneapolis. Some work elsewhere in the Twin Cities. The cuts follow scattered layoffs in the Twin Cities in January in which Wells Fargo laid off fewer than 30 mortgage-related workers. “We currently expect mortgage...
  • Half of General Dynamics Lynn Haven Work Force Looking For Jobs, Again. (730 people)

    02/27/2014 5:53:03 PM PST · by FreeAtlanta · 16 replies
    WJHG.COM ^ | Updated: Thu 7:39 AM, Feb 27, 2014
    LYNN HAVEN, Fla. General Dynamics has sent letters to 730 of its employees at the ObamaCare call facility that they are being laid off. That's about half of the workforce at the facility in the old SalleMae facility at the Lynn Haven Industrial park. U.S. Rep. Steve Southerland, II of Panama City says the loss of 730 Bay County jobs is a stark reminder of America’s transformation into a part-time, short-term society. The Congressman told NewsChannel 7, " I am saddened that these hardworking men and women are paying the price for the Obama administration’s unyielding pursuit of a job-crushing,...
  • Best Buy cutting 2,000 managers

    02/27/2014 6:34:13 AM PST · by 2ndDivisionVet · 35 replies
    The New York Post ^ | February 26, 2014 | James Covert
    Best Buy has a major cost-cutting operation in the works, and the code word is “pink slip.” The nation’s biggest electronics chain — which saw sales fall 2.6 percent during the Christmas selling season because of a price war with Amazon — has begun laying off thousands of midlevel managers nationwide as it girds for even more competition, The Post has learned. After slashing hundreds of jobs at Best Buy’s Minneapolis HQ last year and closing unprofitable stores, CEO Hubert Joly is now swinging the ax across the retailer’s 1,056 US big-box stores and regional offices, according to insiders briefed...
  • Cox Communications to lay off 500 in San Diego (Plus 150 more in Orange County)

    02/27/2014 6:17:00 AM PST · by 2ndDivisionVet · 6 replies
    The San Diego Union-Tribune ^ | February 26, 2014 | Mike Freeman
    Cox Communications said Wednesday it is closing a call center in San Diego, eliminating 500 jobs. The move comes as part of a company-wide consolidation of call center operations for Atlanta-based Cox Communications, which is trimming its current 19 call centers nationwide into seven large sites. Company spokesman Dennis Morgigno said the expanded call centers will be located in Las Vegas; Phoenix; Omaha, Neb.; Oklahoma City; Wichita, Kan.; Hampton Roads, Va.; and Baton Rouge. California wasn’t chosen as a call center site because the company lacked real estate to expand here, Morgigno said. It had space available in the other...
  • IBM Employees Fear Company Will Begin Up To 13,000 Layoffs Tomorrow

    02/25/2014 8:58:24 AM PST · by SeekAndFind · 41 replies
    Business Insider ^ | 02/25/2014 | Julie Bort
    IBM’s next round of layoffs are expected to begin on Wednesday, Feb. 26, according to a union for IBM employees. The internal code name for this round of cuts is “Project Apollo,” sources told the union, Alliance@IBM on an online forum where those who work for IBM can post comments about what’s going on inside the company. No one knows exactly how many people IBM will cut as part of its 2014 “workforce rebalancing.” IBM won’t comment on the number of employees affected but CFO Martin Schroeter did say that IBM plans to spend $US1 billion on 2014′s cuts, “plus...
  • JP Morgan To Lay Off 17,000 Mortgage Bankers In 2013 And 2014, Because The "Housing Recovery"

    02/25/2014 8:53:01 AM PST · by SeekAndFind · 20 replies
    Zero Hedge ^ | 02/25/2014 | Tyler Durden
    The last time JPMorgan had an investor day, Jamie Dimon explained to Mike Mayo why he is richer than him (and pretty much anyone else). This year, Jamie will be more focused on explaining to 8,000 JPM workers why after firing 16,500 people in consumer and mortgage banking, the bank will now let go another 2K and 6K in those same two groups (which will bring total mortgage and consumer banking headcount reductions between 2013 and 2014 to at least 17K and 7.5K, respectively). This may be tricky especially in the context of, you know, the housing and economic...
  • Survey: Medical device tax has cost tens of thousands of jobs

    02/22/2014 10:25:34 AM PST · by SeekAndFind · 11 replies
    American Thinker ^ | 02/22/2014 | Rick Moran
    But it's "only" 2.3%! How can such a tiny tax have such a large negative impact? That's the thinking of the excise tax supporters who think that the medical device industry can "easily afford" the tax (New York Times) and besides, they deserve it because they're "anti-competitive": A new survey says Obamacare's tax on medical device manufacturers has cost the industry about 33,000 jobs.In a report this week, the Advanced Medical Technology Association (AdvaMed) said companies cut about 14,000 workers and decided not to hire about 19,000 workers because of theThe report also said the 2.3 percent excise tax also...
  • Sbarro says it will close 155 locations

    02/20/2014 9:16:19 AM PST · by Phillyred · 59 replies
    PHILLY.COM ^ | Wednesday, February 19, 2014, 6:22 | The Associated Press
    <p>Sbarro Inc. says it's closing 155 of its U.S. locations, mostly in mall food courts where traffic has declined. The Melville, N.Y.-based pizza chain said Wednesday the closures affect 1,400 workers. The move comes as the company is trying to improve its financial performance and update its image under yet another CEO who took over just last year. Jonathan Dedmon, a representative for Sbarro, says the targeted locations will close Thursday. "The last day of business is today," he wrote in an email. Sbarro filed for bankruptcy protection in April 2012 when it was no longer able to contend with declining sales and rising costs. It emerged from Chapter 11 protection in November 2012, saying that it had significantly cut its debt and received a new $35 million capital infusion. Shortly after, it named James Greco, a former head of bagel chain Bruegger's Enterprises, as its CEO. Greco led a push to revitalize the chain's image by touting new recipes and ovens. But the efforts apparently didn't take hold; Sbarro named David Karam its CEO last year. Dedmon did not respond when asked why Greco was replaced. Sbarro owns 400 locations in North America. The closures do not affect the additional 175 Sbarro locations in the region that are owned by franchisees. After the closures, Sbarro said it will operate 800 stores worldwide, including 81 that were opened last year.</p>
  • Initial jobless claims increase to 339,000

    02/13/2014 7:43:18 AM PST · by SeekAndFind · 14 replies
    Los Angeles Times ^ | 02/13/2014 | Jim Puzzanghera
    WASHINGTON -- Initial jobless claims rose last week, but remained at a level consistent with moderate labor market growth amid mixed signals recently about the strength of the economic recovery. About 339,000 people applied for first-time unemployment benefits in the week ended Saturday, up from 331,000 the previous week, the Labor Department said Thursday. Economists had projected a slight decrease to 330,000. The weekly claims figure, a key labor market indicator, has settled in recent weeks to about 335,000 after the usual holiday season volatility. The four-week average rose 3,500 last week, to 336,750. Economists say claims below 350,000 indicate...
  • Verizon to close 2 local contact centers (Over 5,000 layoffs overall in 5 places)

    02/12/2014 10:24:34 PM PST · by 2ndDivisionVet · 11 replies
    The Pittsburgh Post-Gazette ^ | February 12, 2014 | Deborah M. Todd and Mark Belko
    About 1,000 local jobs will be affected when Verizon Wireless closes its customer contact centers in Cranberry and Warrendale in May as part of a national realignment of 5,000 employees, the company announced Wednesday. Verizon Wireless said a total of five customer contact centers will close in May. For the 1,000 local customer service employees affected, options are to apply for other positions locally, to relocate to one of 26 out-of-state customer contact centers or to accept a severance package. Employees eligible for out-of-state relocation will receive a $10,000 relocation assistance package. The company also is offering employees seeking to...
  • IBM layoffs strike first in India; workers describe cuts as 'slaughter' and 'massive'

    02/12/2014 5:17:28 PM PST · by RightGeek · 26 replies
    WRAL TechWire ^ | 2/12/2014 | Rick Smith
    Research Triangle Park, N.C. — Dispatches from the firing line at IBM: "People broke down after seeing the inhuman treatment. Laptops along with the cases were confiscated, so several employees were seen crying and exiting building carrying and balancing their personal belongings with their two hands." "IBM STG INDIA is doing RA and it is very deep and numbers are huge." "Just heard from a colleague in Bangalore that job cuts there have begun. Workers asked to leave on the spot. He claims 6 out of 23 people in his department." RESEARCH TRIANGLE PARK, N.C. - IBM's latest $1 billion...
  • Highmark lays off 132 (ObamaCare Strikes)

    02/12/2014 4:30:23 PM PST · by ConservativeInPA · 12 replies
    TribLive ^ | February 11, 2014 | Alex Nixon
    Highmark Inc. laid off 132 workers in information technology and sales on Tuesday, including 65 in Pittsburgh, saying that it needed to align its workforce with its changing business.
  • The Democrats' Phony 'Job Lock' Defense of ObamaCare

    02/12/2014 7:36:20 AM PST · by IBD editorial writer · 22 replies
    Investor's Business Daily ^ | 2/12/2014 | John Merline
    Anyone following the debates over ObamaCare has been hearing a lot about "job lock" these days. "The Affordable Care Act will enable more than 2 million workers to escape 'job-lock' — the situation where workers remain tied to employers for access to health insurance benefits," said House Minority Leader Nancy Pelosi, D-Calif., to cite just one example. All this job-lock talk was sparked to defend ObamaCare after the Congressional Budget Office reported the work disincentives it creates will lead to the loss of the equivalent of 2.5 million full-time jobs. But it turns out that the Democrats' claim that millions...
  • Thought Police: Firms must swear ObamaCare not a factor in firings

    02/11/2014 8:47:02 AM PST · by ColdOne · 104 replies
    foxnews.com ^ | 2/11/14 | Chris Stirewalt
    How will the feds know what employers were thinking when hiring and firing? Simple. Firms will be required to certify to the IRS – under penalty of perjury – that ObamaCare was not a motivating factor in their staffing decisions. To avoid ObamaCare costs you must swear that you are not trying to avoid ObamaCare costs. You can duck the law, but only if you promise not to say so.
  • Barclays Fires 12,000; Reports Horrible Earnings, Awards Itself Bigger Bonuses

    02/11/2014 8:27:14 AM PST · by SeekAndFind · 14 replies
    Zero Hedge ^ | 02/11/2014 | Tyler Durden
    It is not easy for one bank to anger more people with one announcement than what Barclays did in the past 24 hours. In one fell swoop, the British bank infuriated shareholders after announcing dismal earnings (an adjusted Q4 profit of about 200 million pounds and a statutory profit of less than 100 million as investment banking income slumped 37% as income fell 9% to 10.7 billion due to a fall in fixed income, and it took further charges related to a cleanup of the banking industry in the wake of the 2008 financial crisis) which sent the share...
  • Commie Keith Ellison: Americans Work Way Too Much & CBO Report Says They Will Be Able to Cook Dinner

    02/11/2014 7:15:41 AM PST · by KeyLargo · 13 replies
    Savaing the Republic ^ | Feb 9, 2014 | BMartin1776
    Commie Keith Ellison: Americans Work Way Too Much & CBO Report Says They Will Be Able to Cook Dinner Posted on February 9, 2014 by BMartin1776 VIDEO These lunatics like CAIR agent & MUSLIM BROTHERHOOD SYMPATHIZER Keith Ellison are praising the JOB LOSS barackobamacare is causing! When you hear bobbleheads like him talk about the damage obamacare is doing as if it’s a good thing this is first and foremost the purest example of propaganda, but this is what we call whitewashing! They have no answers for the carnage and destruction this “law of the land” is doing so now...
  • 2014 January Job Cut Report: Planned Cuts Surge 50 Percent

    02/07/2014 5:56:59 AM PST · by KeyLargo · 19 replies
    Challenger Grey ^ | Feb 5, 2014
    2014 January Job Cut Report: Planned Cuts Surge 50 Percent After falling to a 13-year low in December, monthly job cuts surged nearly 50 percent to kick off 2014, as U.S.-based employers announced plans to reduce their payrolls by 45,107 in January, according to the latest report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc. The 45,107 job cuts last month were 47 percent higher than a December total of 30,623, which was the lowest one-month total since 17,241 planned layoffs were announced in June 2000. January job cuts were up 12 percent...
  • More Men in Prime Working Ages Don't Have Jobs

    02/06/2014 10:47:06 AM PST · by reaganaut1 · 66 replies
    Wall Street Journal ^ | February 5, 2014 | MARK PETERS and DAVID WESSEL
    ... More than one in six men ages 25 to 54, prime working years, don't have jobs—a total of 10.4 million. Some are looking for jobs; many aren't. Some had jobs that went overseas or were lost to technology. Some refuse to uproot for work because they are tied down by family needs or tethered to homes worth less than the mortgage. Some rely on government benefits. Others depend on working spouses. Having so many men out of work is partly a symptom of a U.S. economy slow to recover from the worst recession in 75 years. It is also...
  • Layoffs hit Intel (vanity)

    02/06/2014 10:15:19 AM PST · by Zathras · 20 replies
    zathras
    This has not even hit the wires yet. Intel is offering VSP early retirement plans for close to 10K employees starting Feb 9. Employees are expected to be gone by April 1. Employees in India are exempt from VSP plan. Nearly 100% are USA employees: Major effected Areas: OR, CA, AZ, CO, MA
  • Radioshack Celebrates One Year Anniversary Of Closing 500 Stores By Closing 500 More

    02/04/2014 2:41:04 PM PST · by SeekAndFind · 58 replies
    Zero Hedge ^ | 02/04/2014 | Tyler Durden
    If it seems like it was exactly a year ago that turmoiling retailer Radioshack shut down 500 stores due to lack of consumer interest in its wares (and or consumer disposable cash), it is because it was. So how does Radioshack demonstrate its morbid sense of humor on the one year anniversary of said announcement? Well, by closing another 500, or about 12% of the retailer's total 4500 outlets currently in existence. The WSJ reports that the company which once was the butt of all LBO-rumor jokes (and still is, only this time in the context of an M&A-rumor...
  • 500 layoffs expected today at Time Inc.

    02/04/2014 9:59:47 AM PST · by jimbo123 · 59 replies
    NY Post ^ | 2/4/14 | Keith J. Kelly
    Tuesday is D-day at Time Inc. Around mid-morning, staffers are expected to start hearing how deep the cuts will be as Time Inc. CEO Joe Ripp unveils what is likely the last big downsizing before Time Warner spins off the publishing group as a separate company later this year. “It’s very nerve racking,” said one source inside the company that publishes People, Time, Sports Illustrated and In Style.
  • Dude, "It's Going To Be A Bloodbath": Newly Private Dell Computers To Fire 15,000

    02/03/2014 1:22:11 PM PST · by SeekAndFind · 76 replies
    Zero Hedge ^ | 02/03/2014 | Tyler Durden
    Curious why Michael Dell was so eager to take the company he founded private? So he could do stuff like this without attracting too much attention. According to the Channel Register, the recently LBOed company is "starting the expected huge layoff program this week, claiming numbers will be north of 15,000." Of course, with a private sponsor in charge of the recently public company, the only thing that matters now is maximizing cash flows in an environment of falling PC sales, a commoditisation of the server market and a perceived need to better serve enterprises with their ever-increasing mobile...
  • U.S. jobless claims rise more than expected

    01/30/2014 6:35:17 AM PST · by John W · 42 replies
    Reuters ^ | January 30, 2014 | Reuters
    Jan 30 (Reuters) - The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend suggested the labor market continued to heal. Initial claims for state unemployment benefits increased 19,000 to a seasonally adjusted 348,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported. Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 330,000 in the week ended Jan. 25. The four-week moving average for new claims, considered a better measure of underlying labor...
  • Reports: Wal-Mart To Lay Off 2300 Sam's Club Employees

    01/27/2014 1:53:30 AM PST · by 2ndDivisionVet · 5 replies
    RTT News ^ | January 25, 2014 | Staff
    Retail giant Wal-Mart Stores Inc. (WMT: Quote) will lay off about 2,300 employees at its Sam's Club warehouse division, according to media reports on Friday. The job cuts, representing about 2 percent of Sam's Club workforce, are reportedly part of Walmart's efforts to improve efficiency at the business. Walmart thus joins other retailers who are laying off employees after a lacklustre holiday season. The layoffs would reportedly target a combination of salaried assistant managers and hourly employees. All affected workers will get 60 paid days to find another job at the company and if unsuccessful, will be eligible for severance....
  • Wal-Mart to cut 2,300 workers from Sam's Club stores

    01/25/2014 11:42:20 AM PST · by South40 · 27 replies
    NBCNews (AP) ^ | 1/25/2014 | Anne D'Innocenzio
    Wal-Mart Stores Inc. said it's eliminating 2,300 workers at its Sam's Club division as it reduces the ranks of middle managers in a bid to be more nimble. The layoffs, which cut 2 percent of the membership club's U.S. employee count of about 116,000, mark the largest since 2010 when the Sam's Club unit laid off 10,000 workers as it moved to outsource food demonstrations at its stores.
  • CNN lays off more than 40 journalists

    01/23/2014 8:55:43 AM PST · by rktman · 77 replies
    ft.com ^ | 1/23/2014 | Matthew Garrahan
    CNN has laid off more than 40 senior journalists in its newsgathering operation – including a pregnant producer who was two weeks away from giving birth to twins – as part of a reorganisation of the business under Jeff Zucker. The cutting of production and editorial staff at the Time Warner-owned group comes as Mr Zucker tries to re-establish CNN as the dominant force in 24 hour cable news, a crown it lost several years ago to Fox News Channel.
  • Wall Street advisor: Actual unemployment is 37.2%, 'misery index' worst in 40 years

    01/21/2014 11:46:47 AM PST · by F15Eagle · 249 replies
    http://washingtonexaminer.com via Drudge ^ | JANUARY 21, 2014 AT 1:08 PM | By PAUL BEDARD
    Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud. In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government. Marotta, who recently advised those worried about an imploding economy to...
  • Obamacare impact: Cutting hours, going part time

    01/19/2014 5:56:19 PM PST · by Libloather · 24 replies
    El Paso Inc. ^ | 1/19/14 | David Crowder
    **SNIP** Many of his students who work to pay for their education and living expenses are complaining about being cut to 28 hours. “They’re saying they couldn’t pay their bills at 40 hours, so now they’re having to get a second job,” Diaz said. “That is the new trend.” But it’s not just restaurant workers and sales clerks who are feeling the squeeze. Universities and community colleges that rely heavily on part-time faculty have had to make the hard choice of cutting the number of classes they teach because the schools can’t afford to offer them health insurance.
  • Here’s The List Of JCPenney Stores To Be Closed

    01/16/2014 11:35:39 AM PST · by SMGFan · 76 replies
    Consumerist ^ | January 16, 2014
    Yesterday afternoon, JCPenney announced it would be laying off around 2,500 employees and shuttering 33 underperforming stores around the country. Want to know if your local JCP made the cut?
  • What is Going On With Jobs? We are not just talking about a bad month.

    01/14/2014 6:57:12 AM PST · by SeekAndFind · 27 replies
    American Thinker ^ | 01/14/2014 | Christopher Chantrill
    Everyone agrees that the employment report last Friday was very bad. Unemployment went down to 6.7 percent, but that was because the Household Survey showed that 347,000 people left the labor force in December while only 144,000 found jobs. In a healthy growing economy you are supposed to get the work force increasing faster than the actual employment, as people join the labor force confidently looking for work.If you look at the data for the five years since President Obama was inaugurated, you can see that we are not just talking about a bad month. It's all bad, from...
  • US LOST 2 MILLION WORKERS IN 2013

    01/10/2014 12:54:38 PM PST · by Jim Robinson · 132 replies
    Breitbart ^ | Jan 10, 2014 | By Mike Flynn
    Friday's December jobs report was a major disappointment, showing the economy gained just 74k jobs last month. Economists had expected the economy to gain around 200k jobs. The unemployment rate, however, dropped to 6.7% as 347k frustrated job-seekers gave up and left the labor force. We are in an upside-down world where a drop in the unemployment rate is a bad sign for the economy. The overall labor force shrunk dramatically last year. In December 2012, 155.4 million workers had a job or were actively looking for one. Last month, though, 154.9 million were in the labor force, a drop...
  • Macy's laying off 2,500

    01/09/2014 3:02:17 AM PST · by SoFloFreeper · 82 replies
    CNN ^ | 1/9/14
    The axe is falling at Macy's. The department store operator said Wednesday that it was laying off 2,500 workers and closing five stores. The company is also consolidating its regional management and restructuring its retail and merchandise planning staff. "[W]e have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," Macy's CEO Terry Lundgren said in a statement.