layoffs news stories on Newser

Apple Has Killed a Half Million Jobs

Neal Colgrass — Sat, 05 May 2012 17:36:11 CDT

Accused of shipping American jobs overseas , Apple reacted by saying it has actually created US jobs— some 514,000 in fact . Now BusinessInsider takes a closer look at the numbers and finds that the tech behemoth has actually eliminated 490,570 positions, nearly the same amount it has created. Here's...

Bank of America Laying Off Elite Bankers

Kevin Spak — Tue, 01 May 2012 09:52:00 CDT

Bank of America plans to lay off 2,000 of its highest paid employees in its investment banking, commercial banking, and non-US wealth management units, sources tell the Wall Street Journal . Those operations just happen to be the ones that expanded with BofA's acquisition of Merrill Lynch, which has been...

Wall Street to Slash 21K Jobs

Kevin Spak — Mon, 30 Apr 2012 07:51:10 CDT

Wall Street's job creators aren't exactly living up to that billing. The market is soaring, and so are bank profits, but financial firms are preparing for a massive round of layoffs, analysts tell Fortune , estimating that the banks will cut nearly 21,000 jobs. That would be a bloodbath on...

Yahoo Lays Off 2K Workers

Kevin Spak — Wed, 04 Apr 2012 09:15:40 CDT

Yahoo is slashing 2,000 jobs, or about 14% of its workforce, the company announced today, in a long-expected cost-cutting move. The cuts will hit every department in the company, and sources tell the Wall Street Journal that yet more cost reduction measures are in the works, as Yahoo continues...

Yahoo Poised to Lay Off Thousands

Rob Quinn — Tue, 06 Mar 2012 01:19:00 CST

Yahoo's new CEO is planning a major shake-up of the business that's expected to involve thousands of layoffs, sources tell All Things Digital . Scott Thompson, who has been pushing for quick changes since taking charge early this year , is eyeing big cuts in Yahoo's large products organization, as well as...

American Airlines to Cut 13K Jobs

Wed, 01 Feb 2012 14:30:03 CST

The parent of American Airlines wants to eliminate about 13,000 jobs—15% of its workforce—as the third-biggest US airline remakes itself under bankruptcy protection. The company aims to cut labor costs by 20%, and will soon begin negotiations with its three major unions. AMR Corp. CEO Thomas W....

Jobs Site Monster Cutting 400 ... Jobs

John Johnson — Thu, 26 Jan 2012 10:56:53 CST

It's a layoff announcement with a sad, ironic twist: Monster Worldwide, which runs the online recruitment site and makes job-search software, is itself slashing 400 jobs, reports Reuters . That amounts to 7% of full-time staff. "The progress we saw in the fourth quarter was much slower than what we saw...

Citi Cutting 4,500 Jobs

Rob Quinn — Wed, 07 Dec 2011 00:43:56 CST

Citigroup plans to cut some 4,500 jobs—2% of its global workforce—in the coming months as it "faces an extremely challenging operating environment," CEO Vikram Pandit warns. Pandit, who has cut more than 100,000 jobs at Citi since taking charge in 2007, says regulatory changes and the...

Time to Occupy Newsrooms

Matt Cantor — Mon, 24 Oct 2011 11:16:04 CDT

USA Today applauded Occupy Wall Street for attacking firms that give “huge bonuses” to execs who makes terrible decisions. The paper’s right—but it’s being hypocritical. Gannett, owner of USA Today , is a champion of “bonus excess despite miserable operations,” David Carr writes in the New York Times . Gannett's recently-resigned...