LayoffBlog.com

April 21, 2009

Yahoo to cut 5% of workforce amid revenue drop

Internet search company Yahoo Inc. announced Tuesday that it would slash 5% of its workforce as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street’s forecasts.

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

April 2, 2009

Job cuts down 19.3% in March

The number of planned job cuts announced by U.S.-based employers fell 19.3 percent to 150,411 in March, according to a report by Challenger, Gray & Christmas Inc.

The number of announced layoffs had dropped 23 percent to 186,350 in February, said the global outplacement firm, meaning that March numbers mark the first two-month decrease in job cuts since February to March 2007.

Source: Austing Business Journal

April 1, 2009

Facebook finance chief Gideon Yu departing

Filed under: Facebook,media,social network,US — DF @ 5:49 pm

Facebook Inc., the closely held Internet company that’s reportedly been seeking a fresh round of financing, is parting ways with Chief Financial Officer Gideon Yu.
Facebook spokesman Larry Yu said Gideon Yu’s departure is unrelated to any effort by the company to raise further funds.

Source: MarketWatch

Update (April 1, 2009): Industry Shocked And Angered By Facebook CFO’s Firing. Gideon didn’t get along with Facebook’s top management. Gideon also had an “increasingly strained relationship” with CEO Mark Zuckerberg “over a series of strategic disagreements over a wide range of issues from increasing ad revenue to fundraising discussions with investors.” Facebook CEO Mark Zuckerberg is quick to push those he disagrees with out of the company. One shared sentiment though is that Mark is a very demanding person to work for, if you screw up, one day you are in, the next day out, persona non grata. Source: CNNMoney

Technologizer.com reports: “Reportedly, Yu left the company immediately after a meeting, symbolistic of Zuckerberg’s apparent “you’re with me or against me” mentality. But the way Facebook framed the departure is troubling”.. “Zuckerberg needs to learn if he wants to take his company public that investors do not like turmoil. The revolving door of executives at Facebook will make investors uneasy, and reluctant to invest in the company.”

INSTANT VIEW: U.S. private sector job losses rise in March

U.S. private sector job losses accelerated in March, more than economists’ expectations, according to a report by ADP Employer Services on Wednesday.

ADP said private employers cut 742,000 jobs in March versus a 706,000 revised cut in February that was originally reported at 697,000 jobs. Economists had expected 655,000 private-sector job cuts in March, according to a recent Reuters poll.

Source: Reuters

Reed Smith to lay off 100 lawyers and staff

The steady drumbeat of layoffs in the legal world continued yesterday with the announcement by Reed Smith L.L.P. that it would let go 100 lawyers and staff in offices in the United States and London.

The firm, which is headquartered in Pittsburgh and has a large Center City office, said it would let go 17 lawyers in various U.S. offices and nine in its London office. A total of 74 administrative staff also would be laid off, the firm said, in the United States and the United Kingdom.

Source: Philly.com

March 31, 2009

Cessna to lay off more workers

Bob Stangarone, vice president of communications with Cessna, says the layoffs will be companywide and affect all pay categories.

The number of layoffs will be announced next month, following the first-quarter report from Cessna’s parent company, Textron Inc., which Stangarone says is expected April 29. The company has already laid off 4,600 workers.

In addition, the company announced a companywide shutdown from July 6 to July 17.

Source: Wichita Business Journal

Layoff turns into fistfight

A distraught Wayland Chevrolet employee who just learned the car dealership was going out of business, may be charged with disorderly conduct after he got into fights allegedly fueled by a “liquid lunch,” Police Chief Dan Miller said today.

One fight, just outside the Wayland Chevrolet dealership’s door, was caught on video when a TV news camera came to do a story on Friday about the dealership revealing it would close that day, putting 30 employees out of work.

Source, video: MLive

Walgreens clinics to offer free medical care for laid-off workers

Filed under: FYI,Healthcare,US — 7macaw @ 8:41 am
Tags: , , ,

Walgreens and Take Care Health Systems on Tuesday launched an initiative to offer free health care services to all of its current and future patients who lose their jobs after March 31 and have no health insurance.

The Take Care Recovery Plan offer applies to most services currently provided at the Take Care Clinics.
The plan includes treatment of:

• Respiratory Illnesses, such as colds, sinus infections, bronchitis and strep throat.
• Common Conditions, such as seasonal allergies and pink eye.
• Skin Conditions, such as dry skin, poison ivy, minor skin infections and burns.

Source: Atlanta Business Chronicle

March 30, 2009

Cisco aims to get some federal stimulus money

Filed under: Cisco,Stimulus,US — 7macaw @ 1:36 pm
Tags: , ,

Cisco Systems expects $47 billion of the federal stimulus money will be spent on technology.

Cisco’s fair share? About $1 billion, said Cisco’s senior vice president Bruce Klein during a visit to the company’s Research Triangle Park site Friday. Klein, based in Virginia, is responsible for making sure Cisco gets that share of the money.

Businesses like Cisco can’t receive the federal money directly, but only through projects financed by stimulus funds that are paid to local and state agencies. Toward that end, Klein put together nine teams across the company to pore over government documents and identify business opportunities with local governments, school districts, state agencies, university systems and health care organizations.

Source: News & Observer. Thanks anon for the tip.

March 28, 2009

Double-digit unemployment hits 7 states

Filed under: FYI,US — 7macaw @ 7:11 am
Tags: ,

Seven states posted unemployment rates above 10 percent in February, according to seasonally adjusted figures released Friday morning by the U.S. Bureau of Labor Statistics.

Michigan registered the nation’s worst rate, with 12 percent of its labor force out of work as of February 2009.

Also in double digits were South Carolina (11 percent), Oregon (10.8 percent), North Carolina (10.7 percent), California (10.5 percent), Rhode Island (10.5 percent), and Nevada (10.1 percent).

Source: Dayton Business Journal

Las Vegas Sands lays off 283 workers

Filed under: entertainment,US — 7macaw @ 6:55 am

Layoffs forced 283 people out of work [Friday] at Las Vegas Sands Corp. in Las Vegas.

Ron Reese, spokesman for the company, said the affected employees worked in the corporate offices as well as the Venetian and Palazzo resorts on the Strip. He said nearly 7,000 full-time equivalent positions remain in Las Vegas.

Source: Las Vegas Sun

March 27, 2009

Report: Hundreds laid off at Disney

Hundreds of Walt Disney World employees in Florida are being handed pink slips and escorted off the property.

Orlando Business Journal said its broadcast partner, Central Florida News 13, said the layoffs involve from 400 to 800 people, but Disney officials would not confirm the number of people affected. Disney said layoffs are part of the restructuring announced last month.

Source: Pacific Business News

Johnson Controls to Close Ten Plants, Cut More Jobs

According to Reuters, CNBC: “Johnson Controls, the third-biggest auto parts supplier in North America, said it had completed two-thirds of its restructuring announced at the end of 2008, which included shutting 21 plants and reducing 9,300 jobs, or 7 percent of its global workforce.”

~News submitted by upthecreek

Plantronics to close plant, cut 670 jobs

Plantronics Inc. plans to cut about 670 positions and close its manufacturing plant in Suzhou, China to improve profitability of its Bluetooth headset product line, the company said Thursday.

Santa Cruz[,Calif.]-based Plantronics (NYSE: PLT) said it will outsource production of Bluetooth headsets to an existing supplier in China, where most of the job cuts will take place.

Source:Silicon Valley / San Jose Business Journal

Buyouts at GM open door for hiring at lower wages

Filed under: auto,GM,US — 7macaw @ 6:51 am
Tags: , , , ,

The 7,631 United Auto Workers who accepted early retirement and buyout offers this week from General Motors Corp. — more than 53 percent of whom work in Michigan — will make room for laid off workers to reclaim their jobs.

But GM likely will not be able to hire lesser-paid workers until the worst sales market in 27 years improves.

“We certainly hope to be able to realize some of that (savings) going forward, but clearly the evaporation in sales put a hold on that,” GM spokesman Tony Sapienza said. “When the dust settles, we’ll still have people laid off, but we’ll be able to bring a lot of laid off people back to work.

Source: The Detroit News

Next Page »

Blog at WordPress.com.