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Keyword: layoffs

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  • Do Massive Layoffs Really Benefit Companies?

    07/20/2014 6:10:46 PM PDT · by SeekAndFind · 34 replies
    Motley Fool ^ | 07/19/2014 | By Chris Neiger
    Microsoft's (NASDAQ: MSFT ) recent announcement that it will cut 18,000 jobs was much higher than anyone expected. It's the company's largest layoff by headcount since it laid off 5,800 employees in the midst of America's Great Recession back in 2009. Microsoft isn't the only one to make such striking job cuts. Global pharmaceutical company Merck (NYSE: MRK ) is in the middle of a two-year plan to reduce its workforce by about 20% -- which equates to about 16,000 employees. At the end of it all, the company expects this to contribute substantially to its goal of saving $2.5...
  • Microsoft Memo Buries Layoff News in 11th Paragraph, Greets Readers with Cheery ‘Hello There’

    07/20/2014 2:38:38 PM PDT · by Olog-hai · 9 replies
    Cybercast News Service ^ | July 18, 2014 - 2:59 PM | Kelly Lawyer
    On Thursday, Microsoft announced it would cut 18,000 jobs (14% of the company workforce) in the next year, the largest reduction in company history. Since its acquisition of Nokia, experts predicted there would be some layoffs, but the number is double the amount predicted. Stephen Elop, head of Microsoft’s device unit (the hardest hit by the layoffs) and former CEO of Nokia, proceeded to bury the news about 12,500 layoffs in the eleventh paragraph of a corporate memo. Elop begins the memo with a cheery “Hello there,” stating Microsoft’s strategy is “focused on productivity and our desire to help people...
  • Walgreens to lay off 345 in Flagstaff

    07/19/2014 9:16:57 PM PDT · by george76 · 27 replies
    Arizona Daily Sun ^ | ‎7‎/‎19‎/‎2014‎ ‎ | Suzanne Adams-Ockrassa
    One of the top 10 employers in Flagstaff, Walgreens, announced Friday that it was closing its distribution center by April and laying off all 345 employees. ... Walgreens recently announced it was seeking to relocate its corporate headquarters overseas to lower its income tax bill. One estimate put first-year tax savings for the country’s largest drugstore chain at more than $700 million. The Wall Street Journal reported July 15 that Walgreens is considering buying the rest of Alliance Boots, a drugstore chain that operates in the United Kingdom but is headquartered in Switzerland. If Walgreens does purchase the rest of...
  • Kgb USA eliminating hundreds of jobs in San Antonio (225 jobs)

    07/18/2014 7:44:05 PM PDT · by 2ndDivisionVet · 26 replies
    The San Antonio Business Journal ^ | July 14, 2014 | W. Scott Bailey
    Kgb USA Inc. has informed the Texas Workforce Commission that it plans to carry out a “mass layoff” in San Antonio. The call center company, which does business as Conduit Global, expects to eliminate 225 positions by Aug. 31. Conduit Global officials say the layoffs are a result of an unexpected cancellation of services by one of the company’s clients. Conduit Global notes in a Worker Adjustment and Retraining Notification Act (WARN) letter filed with the Texas Workforce Commission that it is hopeful the layoffs can be minimized by the “potential award of a large customer care contract.” If a...
  • More Than 1,400 Workers In Pike County, Ohio, To Receive Possible Layoff Notices (Fluor B&W)

    07/18/2014 7:25:16 PM PDT · by 2ndDivisionVet · 4 replies
    WCHS-TV ^ | July 18, 2014 | Sean Delancey and Jeff Morris
    Piketon , Ohio - Roughly 1400 people woke up to bad news Thursday morning. It's called a warn notice, and it means their livelihood is on the line. "These are the higher paying jobs in the area," Herman Potter said. But those jobs are now in jeopardy. Herman Potter is president of the Steel Workers Union in Piketon, Ohio. His employer, Fluor B&W issued a warn notice, stating layoffs are possible. Fluor B&W was hired by the Department of Energy to clean the former Portsmouth gaseous diffusion plant and re-industrialize the property three years ago. The way things stand now,...
  • Dell layoffs will hit Plano, Texas office

    07/17/2014 9:06:48 AM PDT · by SeekAndFind · 12 replies
    Dallas Business Journal ^ | 07/17/2014 | Bill Hethcock
    Employees at Dell Services offices in Plano will be affected by global layoffs that parent company Dell Inc. is undergoing, but the number of pink slips the Round Rock-based tech giant will pass out in North Texas is not yet clear. Dell workers were to be notified Wednesday of layoffs across the globe, including at Dell Services offices in Plano. A statement put out by Dell confirmed the layoffs but declined to give the number of workers that the computer firm will cut. Dell has about 2,500 employees in North Texas and about 16,500 statewide.
  • Microsoft to cut 18,000 jobs this year as it chops Nokia

    07/17/2014 8:35:02 AM PDT · by Scutter · 34 replies
    MSN ^ | 7/17/2014 | Bill Rigby
    SEATTLE (Reuters) - Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company's 39-year history and come five months into the tenure of Chief Executive Officer Satya Nadella. He outlined plans for a "leaner" business in a public memo to employees last week.
  • Microsoft Layoffs to Cut Up to 18,000 Jobs

    07/17/2014 7:20:46 AM PDT · by SeekAndFind · 11 replies
    New York Times ^ | 07/17/2014 | By NICK WINGFIELD
    SEATTLE — Microsoft said Thursday that it planned to eliminate up to 18,000 jobs over the next year in a shake-up intended to help the company move more quickly in the market. The cuts are the largest in the company’s 39-year history, representing about 14 percent of its work force. Microsoft will make the deepest cuts from the businesses it acquired from the Finnish phone maker Nokia. About 12,500 of the jobs being eliminated will come from the Nokia groups, resulting from the closing of a factory in Hungary and other changes. That is about half the number of employees...
  • Microsoft may announce its biggest layoffs ever on Thursday

    07/17/2014 3:36:19 AM PDT · by Innovative · 30 replies
    ComputerWorld ^ | July 16, 2014 | Stephen Lawson
    The action will be much bigger than the 5,800 job cuts announced in 2009, The New York Times said. Microsoft reportedly will announce the biggest round of layoffs in its history on Thursday as massive changes wrought by new CEO Satya Nadella start to take hold at the struggling IT giant.
  • Source: After Disastrous Launch Of ‘Hard Choices’ Hillary To Write New Book

    07/15/2014 9:45:01 AM PDT · by jimbo123 · 46 replies
    Daily Caller ^ | 7/14/14 | Edward Klein
    By now, everyone knows that Hillary Clinton’s memoir Hard Choices is a disaster of such enormous political and financial proportions that it should have been titled “Heaven’s Gate” — a reference to the most infamous Hollywood box office bomb of all time. So how are Bill and Hillary taking this depressing news? And what, if anything, are they planning to do about it? For an answer, I spoke to two sources — one in Bill’s inner circle, the other in Hillaryland (as Hillary’s court is called) — and although these two sources do not know each other, they confirmed the...
  • Sales Fall, Earnings Rise at S&S (1st Quarter 2014 Simon and Schuster flashback)

    07/14/2014 10:05:52 AM PDT · by jimbo123 · 5 replies
    Publishers Weekly ^ | 5/18/14 | Publishers Weekly
    First quarter sales in 2014 fell 11% at Simon & Schuster, to $153 million, but operating income rose to $11 million from $10 million in the first quarter of 2013, parent company CBS reported. -snip- And then there is the new Hillary Clinton book due out in the middle of June. "It's a great book," Reidy said, adding that she hopes Hard Choices will drive consumers into stores. Perhaps with the promotion planned for the Clinton book on her mind, Reidy said she is sure marketing costs, and sales, will be higher for the rest of the year than in...
  • Hillary's 'Hard Choices' Plunges Below Amazon Top 100 Less Than Month After Release

    07/10/2014 8:50:37 PM PDT · by jimbo123 · 33 replies
    Newsbusters ^ | 7/9/14 | P.J. Gladnick
    Less than a month after its official release date of June 10, Hillary Clinton's book, "Hard Choices," has today plunged below the Amazon Top 100 list to a humbling #102 as of this writing. Over at Simon & Schuster, the book publisher who paid Hillary a big campaign contribution in the form of a whopping $14 million advance, there is now a lot of angry finger pointing according to the New York Post's Page Six. Just as humbling is the news that Hillary's book has been replaced at the top of the New York Times Best Seller list by Edward...
  • Execs on notice after Hillary’s book sales tank

    07/09/2014 3:04:24 PM PDT · by jimbo123 · 59 replies
    NY Post ^ | 7/8/14 | Emily Smith and Ian Mohr
    There’s hand-wringing and finger-pointing at Simon & Schuster over the soft performance of Hillary Clinton’s “Hard Choices,” for which she got a $14 million advance, sources said — and which was replaced at No. 1 on the best-seller list this week by an “exposé” about Hillary and Bill Clinton. The former secretary of state’s tome sold 161,000 copies in its first three weeks, according to Nielsen BookScan — but 85,000 of those were sold in the first week. That number has dropped sharply to 48,000 and 28,000 in subsequent weeks, with the most recent numbers due out Wednesday.
  • Showboat Atlantic City Hotel and Casino to close, official says (2,100 unemployed)

    07/01/2014 3:30:19 PM PDT · by 2ndDivisionVet · 21 replies
    The Philadelphia Inquirer ^ | June 26, 2014 | Alex Wigglesworth
    The Showboat Atlantic City Hotel and Casino is closing after more than 27 years of operation, according to an official with the city’s largest casino workers union. Unite HERE Local 54 president Bob McDevitt said Showboat’s 2,100 employees will receive WARN Act notices Friday. The federal law requires covered companies to give workers at least 60 days notice if plans are in place to shut down a job site or execute mass layoffs. “We were notified earlier today from Caesars that they’re issuing WARN Act notices to Showboat employees tomorrow and we immediately began notifying our members,” McDevitt said Thursday...
  • Advance Auto closing 100 stores in first round of post-merger consolidation (AA and CarQuest)

    06/30/2014 10:29:11 AM PDT · by 2ndDivisionVet · 15 replies
    The News and Observer ^ | June 27, 2014 | David Bracken
    During a meeting with analysts and investors on Wednesday, Advance Auto Parts executives were asked how many stores they expect to close as a result of the company's acquisition of Raleigh-based General Parts International. George Sherman, Advance Auto's president, said the company is consolidating 100 stores as part of a first round of closings. "There will be more going forward," he said. "We have to assess fully 1,200-plus stores across the country. There will be a large group of consolidations, but there will be a lot of conversations where we flip the banner and there will be some relocations." General...
  • CPS [Chicago] Laying Off 1,150 Teachers And Clerical Staff

    06/26/2014 4:36:46 PM PDT · by Jim Robinson · 12 replies
    Chicago/CBS ^ | June 26, 2014
    CHICAGO (CBS) – Chicago Public Schools officials have sent layoff notices to 550 teachers and 600 clerical support staff, but said the teachers will be able to apply for other open jobs with the district for next school year. The district said the teacher layoffs were the result of enrollment declines at some schools, though CPS has not identified which ones. However, the district said it expects to have approximately 1,780 vacant teaching slots for next school year, and teachers who received layoff notices can apply for those positions. Approximately 1,400 of the open slots are for full-time teaching positions....
  • Hillary Clinton’s Book Is The No. 2 Hardcover In First Week (It's officially a bomb...)

    06/18/2014 2:55:00 PM PDT · by jimbo123 · 47 replies
    Buzzfeed ^ | 6/18/14 | Ruby Cramer
    Hard Choices sells 85,721 hard copies, according to Nielsen figures. Hillary Clinton’s new memoir was the second-most purchased hardcover book in its first week, according to Nielsen Bookscan data that records physical book sales at Amazon, Barnes & Noble, Books-a-Million, Wal-Mart, and other retailers. The BookScan figures, released Wednesday to publishers and obtained by BuzzFeed, account for sales during the week ending on Sunday, June 15 — a period covering the first six days Clinton’s book, Hard Choices, was available for purchase. They reflect strong but not spectacular sales for a book that has dominated the political conversation. The Bookscan...
  • Disappointment for Hillary Clinton as sales for her memoir 'struggle in its first week'

    06/17/2014 9:36:59 AM PDT · by jimbo123 · 54 replies
    Mail Online ^ | 6/17/14 | DAILY MAIL REPORTER
    Hillary Clinton's new book 'Hard Choices' is a 'bomb', according to a publishing source. The former first lady's memoir - detailing her time as secretary of state under Obama - has sold just 60,000 hardcover copies and 24,000 e-books, the source told The Weekly Standard. The results come after publisher Simon & Schuster's 'hoping and praying' that 150,000 print copies would be sold in the first week after the book went on sale on June 10, the source added. 'Between us, they are nervous at S&S,' the source said. 'Sales were well below expectations and the media was a disaster......
  • Questa mine permanently closed, 300 laid off (New Mexico molybdenum site)

    06/02/2014 11:20:43 PM PDT · by 2ndDivisionVet · 8 replies
    The Taos News ^ | June 2, 2014 | J.R. Logan
    Chevron Mining has permanently closed its Questa molybdenum mine, citing low market prices and increasing operational costs. The closure was announced at an employee meeting Monday morning (June 2). Mine officials say the closure included about 300 layoffs. Employees will be paid and receive benefits for 60 days, as required by federal law. "It's really an economic decision," said David Partridge, president and CEO of Chevron Mining, in an interview outside the mine's mill site Monday. Partridge said the Questa mine is nearly 100 year old, meaning the highest quality, easy get to ore was extracted long ago. Recently, the...
  • 'Toledo Blade' Closes Printing Facility, Axes 130 Union Jobs

    05/31/2014 5:46:37 PM PDT · by george76 · 29 replies
    Breitbart ^ | 31 May 2014 | John Nolte
    Starting August 1, the left-wing Ohio newspaper, The Toledo Blade, intends to lay off about 130 of its unionized employees due to a permanent shutdown of its Toledo production center that handles printing and inserting. ... In 2013, The Blade lost $8.5 million and has been losing millions for years. As of now there are no plans that will affect the advertising and news-gathering departments. In 2012, The Toledo Blade urged it readers to re-elect President Obama, arguing in part that "He has dealt effectively with economic recession at home
  • Troubles mounting, Sears will lay off 55 in Fort Worth

    05/30/2014 4:24:52 PM PDT · by 2ndDivisionVet · 2 replies
    The Dallas Business Journal ^ | May 27, 2014 | Korri Kezar
    Sears Holding Corp. will lay off 55 employees at its parts and distribution center in north Fort Worth as troubles keep mounting for Hoffman Estates, Illinois-based retailer. In a letter under the Worker Adjustment Retraining and Notification Act (WARN) to the Texas Workforce Commission, the company said the employees will be laid off from its facility at 5001 N. Beach St., and that the eliminations are expected to be permanent. The terminations are expected to occur on or around June 29, the letter said. Sears said it will keep the Fort Worth facility open while reducing its staff. "These decisions...
  • Fast food CEO: Minimum wage hikes closing locations

    05/30/2014 11:53:50 AM PDT · by NormsRevenge · 101 replies
    Yahoo Finance ^ | 5/30/14 | cnbc
    CKE Restaurants' roots began in California roughly seven decades ago, but you won't see the parent company of Carl's Jr. and Hardee's expanding there much anymore. Related Stories What's causing what company CEO Andy Puzder describes as "very little growth" in the state? In part it's because "the minimum wage is so high so it's harder to come up with profitable business models," Puzder said in an interview. The state's minimum wage is set to rise to $9 in July, making it among the nation's highest, and $10 by January 2016. In cities in other states where the minimum wage...
  • This Is Why Hewlett Packard Just Announced Another 16,000 Job Cuts

    05/22/2014 3:18:39 PM PDT · by blam · 46 replies
    Zero Hedge ^ | 5-22-2014 | Tyler Durden
    Tyler Durden 05/22/2014 16:26 -0400 The biggest scandal in today's release of Hewlett Packard Q2 earnings was not that it hit 30 minutes prematurely, catching algos unaware and unable to BTFD when the stock tumbled on what was a revenue miss and 1% decline from last year, nor that the company guided below estimate, pushing its stock some 3% lower in the last minutes of trading. The biggest scandal was this disclosure in the second quarter results press release: "As HP continues to reengineer the workforce to be more competitive and meet its objectives, the previously estimated number of eliminated...
  • U.S. ECONOMICS: Jobless Claims See 28,000 Bounce, Reverse Early May Drop

    05/22/2014 6:43:55 AM PDT · by SeekAndFind · 15 replies
    NASDAQ ^ | 05/22/2014
    The 28,000 U.S. initial weekly jobless claims bounce to 326,000 reversed the 23,000 drop to a cycle-low 298,000 (was 297,000) from a similar 321,000 in the first week of May and a 345,000 recent-high at the end of April. Claims are averaging a lean 314,000 thus far in May, following recent averages of 322,000 in April, 320,000 in March, and 337,000 in February. Today's 326,000 survey week reading overshot the lean 305,000 April figure, but sits close to the 323,000 March figure and below the 334,000 February figure.
  • Here Comes Congress' Next Big Economic Crisis, And It Could Be Even Worse Than The Fiscal Cliff

    05/18/2014 9:00:08 AM PDT · by blam · 32 replies
    BI ^ | 5-18-2014 | Brett LoGiurato
    Here Comes Congress' Next Big Economic Crisis, And It Could Be Even Worse Than The Fiscal Cliff Brett LoGiuratoMay 15, 2014, 10:51 AM We survived the fiscal cliff and the government shutdown. But there's another big battle brewing this summer between Congress and the Obama administration with dire economic consequences that could cost the country hundreds of thousands of jobs. And even though politicians on both sides of the aisle agree this disaster is "completely avoidable," all signs indicate we're on a collision course with crisis. On Wednesday, President Barack Obama gave his first formal warning about this impending self-inflicted...
  • Fewer college grads will have jobs lined up this year: Still a bleak job market

    05/12/2014 6:32:20 AM PDT · by SeekAndFind · 74 replies
    New York Post ^ | 05/12/2014 | By Jonathon Trugman
    It’s “Pomp and Circumstance” time for 1.6 million US college graduates. While members of the class of 2014 have some cause to celebrate, they also know they are a few short months away from starting to pay down their share of the $1 trillion-plus student-loan debt. The most shocking number of all is that only 17 percent of these soon-to-be grads have a job lined up, according to AfterCollege Inc., which crunches these numbers and also tries to help match employers with recent graduates. Despite our being a year further along on the road to economic recovery, this year’s 17...
  • Report: One Obamacare Tax Could Cost Up To 286,000 Jobs

    05/06/2014 7:40:22 PM PDT · by 2ndDivisionVet · 4 replies
    The Daily Caller ^ | May 6, 2014 | Sarah Hurtubise
    Just one of Obamacare’s many taxes could cost the U.S. hundreds of thousands of jobs over the next decade, according to an industry report published Tuesday. The National Federation of Independent Business projects that between 152,000 and 286,000 jobs will be lost by 2023 due to Obamacare’s health insurance tax. NFIB, a nonprofit association of business owners, actively supports the repeal of the tax. The health insurance tax has proved to be one of Obamacare’s more controversial fundraising measures. The tax targets insurance companies, charging each one proportional to their market share — the more health plans sold (Obamacare’s goal,...
  • CNN Cuts, Reassigns 50 Employees Across News, Digital Divisions

    05/05/2014 6:32:51 PM PDT · by FreeAtlanta · 41 replies
    THEWRAP.COM ^ | May 1, 2014 @ 4:04 pm | L.A. Ross and Sharon Waxman
    Producers have the chance to be rehired – at lower salaries CNN cut or reduced 50 positions across multiple divisions on Thursday, changing roles and reducing positions and salaries across the board, a CNN executive told TheWrap. “There is essentially no head count change,” a network executive wrote in an email. “Fifty positions have been impacted. Roles will [be] changed.” CNN President Jeff Zucker met with newsroom reporters on Thursday to tell them the bad news, an insider told TheWrap. The cuts mainly affect news producers and managers, some of whom will be invited to reapply for new or “updated”...
  • 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 · 71 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 · 91 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...