The International Labour Organization of the United Nations says nations need to create at least 90 million jobs by the end of 2010 to forestall a global jobs crisis. The announcement was made in advance of a Group of 20 meeting in London next week, where world leaders will discuss a common response to the financial [...]
Continue reading...Tuesday, March 24, 2009
Legg Mason’s Western Asset Management unit, the third-largest American manager of bond funds, has eliminated about 100 jobs, or 10% of its workforce. The Pasadena, California-based Western Asset manages $393 billion in bonds and $156 billion in money funds. Western Asset lost $42 billion in bond-fund withdrawals in the last three months of 2008. Fixed-income assets fell [...]
Continue reading...Monday, March 23, 2009
Corning will close its Danville, Virginia plant by the end of the year, putting 200 people out of work. The company cited the economic meltdown. The plant closing is part of a previously announced plan to reduce Corning’s global work force by 3,500. The Danville plant opened in 1962, and manufactures a variety of hot-glass products. Share This Story:
Continue reading...Thursday, March 19, 2009
Indianapolis, Indiana financial services provider OneAmerica has cut 114 jobs, and reviewed non-salary expenses because of the economic meltdown. The affected employees have been given severance packages and outplacement assistance. The Indianapolis-based company offers life insurance, annuities, and retirement planning. Share This Story:
Continue reading...Friday, March 13, 2009
Media conglomerate Comcast is consolidating several of its regional offices into one large office in Livermore, California. The three-building campus will house up to 1,100 employees, and will include a call center, technical operations center and administrative offices. The street will be renamed Comcast Place. The influx of so many workers to the northern Livermore neighborhood will [...]
Continue reading...Thursday, March 12, 2009
Greenwich, Connecticut-based railroad operator Genesee & Wyoming will furlough 50 more employees in the next 30 days, in addition to 95 furloughed so far. Genesee has reduced its locomotive fleet by 10% this year so far, and cut working hours. Railroad operators has been impacted by lower freight volumes, as the transportation industry has been dragged down [...]
Continue reading...Thursday, March 5, 2009
Canadian forestry firm Domtar will shutter its pulp mill in Baileyville, Maine for an indefinite period, affecting 300 employees. This is the latest in a string of production and job cuts for Domtar, which is trying to cut costs as the economic meltdown affects demand. The Woodland mill, which will close on May 5th, has an annual [...]
Continue reading...Friday, February 27, 2009
The Boston Herald wants 20 employees, or 5% of its staff, to take buyouts as the economic meltdown takes its toll on advertising. Four hundred employees received letters today detailing the buyout offer. Last summer the tabloid laid off more than 100 employees and outsourced its printing. Papers across the country are grappling with a withering economy, shrinking [...]
Continue reading...Friday, February 6, 2009
Emerson Electric, the St. Louis, Missouri-based maker of “InSinkErator” garbage disposals, plans as many as 14,000 job cuts in 2008. The firm has already eliminated 7,000 positions since October. The company expects to shrink its workforce to as little as 120,000 by the end of its fiscal year. The company had 141,000 workers on October 2008. Sales may [...]
Continue reading...Wednesday, February 4, 2009
Jacksonville, Florida-based Fidelity National Financial confirmed it has dismissed about 1,500 employees from the recently-acquired LandAmerica Financial Group. Fidelity National and First American, the top two companies in the industry, are slashing jobs in the worst housing slump since the Great Depression. The firms, along with LandAmerica, cut at least 18,000 positions since 2003. Fidelity National [...]
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Wednesday, March 25, 2009
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