Meta Financial Group will lay off 40 employees in its Meta Payments System Division. More than half those job cuts will occur at the company’s Sioux Fall, South Dakota location. CEO J Tyler Haahr announced the job cuts are a cost-cutting program and that the company is working on a plan to raise capital, lower [...]
Continue reading...Tuesday, January 26, 2010
Telecommunications equipment maker Tellabs will cut 200 jobs over the next five quarters as part of a restructuring plan. Tellabs, which reported a net profit of $62 million for the fourth-quarter thanks to a positive tax adjustment, is attempting to cut costs while shifting the company’s focus to Ethernet and Internet network equipment. Tellabs said that while [...]
Continue reading...Tuesday, January 26, 2010
On a conference call today Chief Financial Officer John Killian of Verizon said that the company plans to cut more than 10,000 jobs this year after posting disappointing fourth quarter sales. These cuts will remain at the same level as last year, when 13,000 positions or 9% of its workforce was eliminated. Verizon had 117,000 [...]
Continue reading...Monday, January 25, 2010
Wal-Mart Stores will cut about 11,200 jobs at its Sam’s Club warehouses, according to a company-wide memo distributed Sunday. Wal-Mart is laying off 10,000 workers who demonstrate products in Sam’s Club stores (such as food samples) and will cut an additional 1,200 membership recruiting jobs. The product demonstrations will be outsourced to Shopper Events, an Arkansas-based [...]
Continue reading...Friday, January 22, 2010
Xerox Corp. plans to cut upwards of 2,500 jobs, or about four percent of its work force, as part of a restructuring plan that could save the company around $200 million a year. The looming cuts were announced Thursday by chief executive Urula Burns during a conference call outlining the company’s fourth-quarter earnings report. Burns indicated [...]
Continue reading...Friday, January 22, 2010
Faced with a $200-million budget deficit, officials in Los Angeles are considering eliminating 1,000 jobs this fiscal year. The news comes on the heels of a report that said unemployment in the Golden state continues to rise. The latest figures put California’s unemployment at 12.4 percent, which is the fifth highest in the nation. The potential trimming [...]
Continue reading...Monday, January 18, 2010
In an effort to balance its budget, Southeast Missouri State University has cut 24 management and support jobs. University president Ken Dobbins said faculty cuts will also be forthcoming. Most faculty cuts will involve “temporary” or non-tenure track instructors, according to the Associated Press. Tenure track positions will be cut by not filling jobs when people [...]
Continue reading...Monday, January 11, 2010
Metro will go forward with plans to cut 150 jobs as they attempt to compensate for a budget gap. Sixty employees will receive layoff notices in the coming weeks, while 90 vacant positions will be cut. Administrative workers will be the primary target of the most recent round layoffs, according to Metro Spokesman Steven Taubenkibel. The [...]
Continue reading...Monday, November 2, 2009
Delaware currently has just over 800 jobs and the state is planning to cut 525 of them permanently as part of an ongoing process to trim the budget deficit. Eliminating the jobs will save the state $13.75 million per year. This year’s saving has already been realized, but the jobs will not be coming back. [...]
Continue reading...Monday, September 14, 2009
Eli Lilly is losing patent protections on four of its top five selling drugs over the next three years. As a result, the company says, it needs to cut costs by $1 billion and as part of their cost cutting measures they will be cutting 5,500 jobs over the next two years. The situation at [...]
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Wednesday, January 27, 2010
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