Industrial manufacturer Columbus McKinnon will close down two factories and reduce capacity at a third, resulting in the layoffs of 10% of its workforce. Last quarter, the firm reduced operating headcount by more than 20%; instituted executive pay cuts; and suspended its 401(k) matching plan. Based in Amherst, New York, Columbus McKinnon manufactures hoists, trolley and [...]
Continue reading...Wednesday, May 6, 2009
Wells Fargo has laid off 548 workers at the former Charlotte, North Carolina HQ of Wachovia. The cuts targeted investment banking. Previously, the bank had announced 75 cuts at that location. The bank will keep its matching contributions for 401(k) retirement plans. Headquartered in San Francisco, Wells Fargo & Co is a diversified financial services company with operations [...]
Continue reading...Monday, May 4, 2009
Los Angeles, California-based auto and home insurer Mercury General cut 360 jobs in Q1 2009, and suspended its employee 401(k) matching program. The company writes automobile insurance mainly in California. Mercury Insurance Group is an automobile and property insurance company founded by George Joseph in 1961. Share This Story:
Continue reading...Thursday, April 30, 2009
The Principal Financial Group is cutting 75 jobs in its global asset management division. Most of the layoffs will affect workers at the firm’s Des Moines, Iowa headquarters. In December, the company laid off 550 people, or 3% of its workforce. In March, they cut pay across the board, including top managers. The Principal Financial Group is [...]
Continue reading...Tuesday, April 28, 2009
Radio and advertising conglomerate Clear Channel is laying off 590 people in its radio division, and suspending its 401(k) matching plan. The layoffs target programming, engineering and customer service workers. The firm announced 1,850 sales layoffs in January. Clear Channel will also suspend its matching contributions to employees’ 401(k) retirement accounts as of Thursday. Clear Channel Communications [...]
Continue reading...Tuesday, April 28, 2009
Amcore Financial will reduce its workforce by 9%, and cut executive pay. The company will eliminate 116 positions, including that of chief operating officer. The firm reduced staff positions by 11% in Q4 2008. The company has also cut executive salaries by 5%, canceled merit-based pay increases, and slashed contributions to its 401(k) plan. Amcore is a multi-bank [...]
Continue reading...Tuesday, April 21, 2009
Cognex will cut 85 employee and contractor jobs, eliminate most unfilled positions, cut executive salaries, reduce leased office space, cut 401(k) contributions and slash spending. The plan will save the firm $15 million a year. Cognex Corporation is a manufacturer of machine vision systems, software and sensors used in automated manufacturing to inspect and identify parts, detect [...]
Continue reading...Tuesday, April 21, 2009
St. Louis Park, Minnesota-based Park Nicollet Health Services will lay off 233 workers and leave 69 open positions vacant. The hospital will also combine management positions, force two weeks unpaid leave, and end matching payments for retirement accounts. The hospital laid off 233 employees in December 2008. Park Nicollet Methodist Hospital is a 426-bed facility recognized as an [...]
Continue reading...Monday, April 6, 2009
Sprint Nextel is hiring at its Hampton Contact Center in Hampton, Virginia. Sprint, which announced last month that it would close a network operations center and eliminate 100 jobs, said the new jobs in Hampton will be added to the 700 employees now working at the call center. New hires will be offered competitive salaries, medical and [...]
Continue reading...Wednesday, March 11, 2009
Television station owner Belo will cut 150 jobs, reduce some employee salaries by 5%, and suspend its 401(k) matching contributions. The salary reduction will affect employees who are part of the Dallas-based company’s management-compensation programs. The suspension of the 401(k) matching will apply to all employees. Belo, which owns 20 television stations, said the layoffs will take [...]
Continue reading...
Wednesday, May 20, 2009
1 Comment