Greenwich Village-based J. Crew Group announced today it will cut 95 jobs, or about 10% of its workforce, to reign in costs. Most of the job cuts will affect the retailer’s New York offices. J. Crew also said it will suspend matching contributions for employees’ 401(k) plans, and eliminate merit based wage increases. The company hopes to save [...]
Continue reading...Monday, February 23, 2009
Women’s apparel retailer Christopher & Banks is cutting 24 corporate jobs as part of a plan to save more than $15 million in fiscal 2010. The company will offer severance and outplacement services to the affected employees, which represent about 11% of corporate headquarters staff. The cost saving steps also include cuts to store payroll, professional services, [...]
Continue reading...Friday, February 20, 2009
Huntington Bancshares has begun notifying employees affected by the 500 jobs it’s cutting by early next month. Huntington’s cost-cutting plan, expected to save about $100 million this year, includes the job cuts along with the elimination of 2008 employee bonuses and the company’s 401(k) matching program. The Columbus-based bank announced the plan February 3rd, days after reporting [...]
Continue reading...Friday, February 6, 2009
Retail chain Talbots will eliminate 370 jobs, 17% of the company’s work force, in a $150 million cost-cutting effort triggered by the slump in consumer spending. Hingham, Massachusetts-based Talbots said the cuts would result in about $22 million in savings for fiscal 2009. The cuts will occur at its corporate locations in Massachusetts. It will also close [...]
Continue reading...Monday, February 2, 2009
Cleveland, Ohio’s Lincoln Electric Holdings will eliminate more than 10% of its global work force and cut executive compensation, in an attempt to lower costs to deal with the economic meltdown. The welding products manufacturer plans to cut hours at its Cleveland plant, offer voluntary buyouts to about 2,900 Cleveland employees, freeze merit raises & external [...]
Continue reading...Friday, January 30, 2009
AH Belo, which owns The Dallas Morning News and three other daily newspapers, announced today it will cut approximately 500 jobs, or more than 14% of its workforce, in response to continued revenue declines. “The reduction in force will impact all of the operating companies and corporate, and will probably be in the range of 500 [...]
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Friday, February 27, 2009
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