New York’s American Industrial Partners Capital Fund has purchased struggling recreational vehicle manufacturer Fleetwood RV, and intends to hire 650 workers in Decatur, Indiana. Seven hundred people were laid off in Indiana and California as a result of the purchase. They have been invited to apply for the new positions — but at a 10% salary [...]
Continue reading...Wednesday, June 24, 2009
Brattleboro, Vermont’s World Learning is cutting 14 non-faculty positions, and implementing a 5% salary cut for its 2010 fiscal year. The salary reductions only affect non-faculty employees making more than $30,000 a year. Those employees will get an additional eight holiday and vacation days. Outplacement and career counseling have been offered to those affected. World Learning is a [...]
Continue reading...Wednesday, June 24, 2009
The new city budget for Watsonville, California will cut pay and hours for employees, but saves 89 jobs. The city intended to eliminate 112 jobs to help close a $4.5 million deficit. But city staff, including police and firefighters, have agreed to wage and hour cuts that reduced layoffs to three. Another 20 positions will remain [...]
Continue reading...Thursday, June 18, 2009
Nuclear power plant operator Exelon will cut 500 support staff positions. The cuts will include 100 managers at Exelon’s ComEd utility in Illinois. The firm will also freeze executive salaries and reduce compensation plans. Exelon has just under 20,000 employees. Exelon Corporation is an electricity generating and distributing company headquartered in Chicago. It was created in 2000 by [...]
Continue reading...Sunday, May 31, 2009
Wisconsin’s Briggs & Stratton, is one of the world’s largest manufacturers of air-cooled gasoline engines, has required its employees at a Murray, Kentucky plant to take a 10% pay cut, but will not lay anyone off. The salary reductions affect everyone, including management. Earlier this year, the company cut 164 people at the Murray plant. Founded in Milwaukee [...]
Continue reading...Sunday, May 24, 2009
Los Angeles’ Museum of Contemporary Art has cut 17 positions, reduced salaries and canceled exhibitions. Two of those laid off were curators. Senior staffers have accepted 5% salary cuts, and other employees will see reduced salaries and/or hours. Four upcoming exhibitions have been canceled. Established in 1979, The Museum of Contemporary Art, Los Angeles is a modern art [...]
Continue reading...Wednesday, May 20, 2009
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...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 28, 2009
Sotheby’s, the world’s largest publicly traded auction house, has announced further job cuts. The firm will cut an additional 5% of its global workforce in 2009, on top of the 15% cut announced in 2008. The auctioneers have also cut salaries for some senior staff, reduced pension contributions, and announced unpaid furloughs. Founded in 1744, London’s Sotheby’s [...]
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...
Wednesday, July 22, 2009
1 Comment