California’s Marvell Technology Group will cut 15% of its workforce, or 850 jobs. Marvell, which manufactures semiconductor components for the iPhone and BlackBerry, has seen a drop-off in demand. The job cuts will come from all areas of the company. The firm has imposed company-wide salary freezes, cut some salaries, suspended bonuses and consolidated facilities. Marvell posted a [...]
Continue reading...Thursday, February 26, 2009
Newark, New Jersey-based basket-maker Longaberger is cutting 120 management, administrative and support jobs, and eliminating 175 manufacturing workers in its basket-making, distribution and woodcrafts divisions. Manufacturing workers hit by the cuts can take seasonal jobs at Longaberger’s “homestead” attraction, which opens in late March. The company is imposing a pay cut for salaried workers effective March 29th. [...]
Continue reading...Tuesday, February 17, 2009
Honda Motor, confronting its first quarterly loss in 15 years, will scale back plans to make business jets, and may offer voluntary retirements in the US for the first time. The company will produce 70 to 80 jets a year for delivery from the end of 2010, compared with an earlier plan to make 100 planes [...]
Continue reading...Monday, February 9, 2009
Hanover, New Hampshire’s Dartmouth College, the smallest school in the Ivy League, will fire 60 of its 3,300 non-faculty employees after its endowment value fell 18% because of the economic meltdown. An additional 70 employees have accepted buyouts, and 28 others will have their hours reduced. The school will increase undergraduate tuition 4.8%, raising the total cost [...]
Continue reading...Thursday, February 5, 2009
A new report says Ohio lost 262,383 jobs since 2000, or about 5% of its work force. The majority of those were manufacturing jobs, with 218,453 factory positions disappearing since 2001, or 23% of the state’s total seven years ago. Meanwhile the average Ohio worker is making 1% less than in 2000 even without considering inflation. Cleveland economist [...]
Continue reading...Tuesday, February 3, 2009
Casino operator Wynn Resorts will cut the wages of all of its salaried workers in Las Vegas, Nevada, and reduce work weeks for its full-time hourly employees to avoid cutting jobs. The company, which recently opened a second casino on the Las Vegas Strip, will eliminate 2009 bonuses and suspend its program of matching 401-K contributions. Wynn [...]
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Friday, March 6, 2009
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