The software maker said in January that it would cut up to 5,000 jobs over the next 18 months. It made 1,400 cuts at the time. With the second wave of notifications on Tuesday, Microsoft has cut nearly all 5,000 jobs already.

Source: CNet News

“Bankruptcy could do a lot of good for Chrysler” by allowing it to “shrink down to the size it needs” quickly, said Stephen Lubben, who teaches bankruptcy-law at Seton Hall University School of Law in Newark, New Jersey.

Source: Bloomberg

The recession is forcing customers to disconnect lines, and “revenue pressure” will continue this quarter, Chief Financial Officer Sunit Patel said in a statement. The company, which cut more than 1,400 jobs last year, swung back to a loss after reporting its first profit since 2003 in the previous quarter.

Source: Bloomberg

The new job cuts bring the total number of hourly jobs eliminated under GM’s plan to 21,000. GM said additional cuts among salaried workers would be expected, but did not give a specific target.

Source: Detroit Free Press

If an employer terminates its group health plan, former employees are ineligible for COBRA, says Michael Langan, principal with Towers Perrin, a human resources consultant. That makes them ineligible for the subsidy, too, he says.

Source: USA Today

His death comes as staff from the Securities and Exchange Commission and Justice Department have been probing the finance company about issues including possible accounting violations, The Wall Street Journal reported.

Source: MarketWatch

The company, which has 147 outlets in China and employs over 50,000, is removing a layer of management in its stores, leaving affected employees the option of taking a lower position with lower pay, said a company spokesman.

Wal-Mart is offering the employees the option of moving to a new store but for some people it is difficult to move. It is unknown how many people had accepted the company’s offer but a company spokesman said that negotiations had been going on for several months to find a solution.

Source: Reuters

The company said that the employees being affected in this latest round of cuts would be notified within the next two weeks. Last year, the company cut about 700 jobs on a net basis.

Source: CNNMoney

The company said that the employees being affected in this latest round of cuts would be notified within the next two weeks. Last year, the company cut about 700 jobs on a net basis.

Source: CNNMoney

Last week, the New York Times reported that “several hundred” employees could be affected by the job cuts, which could be announced alongside Yahoo’s earnings report.

Source: MarketWatch

Sid Parakh of McAdams Wright Ragen brokerage in Seattle said Monday in a note to investors that “over the last week, we have heard from multiple sources that Microsoft may engage in additional restructuring activities in the near-to-mid term.”

Source: Puget Sound Business Journal (Seattle)

Shantay Britman, 35, of Elkhart said she was due to start a job next month but instead will take the summer off before resuming classes toward a general studies degree at Indiana University-South Bend.

Source: Fox28, Chicago Tribune

In fact, the state will need about a million more college-educated workers than it’s expected to have – a shortage that will lead to a lower standard of living in California and more people needing social services, according to a new report by the Public Policy Institute of California.

The report predicts that 41 percent of workers will need a college diploma (4 in 10 jobs will require one), but only 35 percent of working-age adults will have the necessary degree.

Source: San Francisco Chronicle

“The additional cost saving programme announced today will include a further reduction in the global workforce of approximately 2,000 people,” the company said in a statement.

Source: AFP

Toshiba had already laid off 4,500 temporary workers in the last financial year to March as Japan’s recession deepened and exports slumped.

Source: AFP