Job Cuts annoucements

AP

BofA plans up to 35,000 job cuts in next 3 years

Thursday December 11, 7:42 pm ET
By Madlen Read, AP Business Writer Bank of America expects to cut up to 35,000 jobs in next 3 years as it absorbs Merrill

NEW YORK (AP) -- Bank of America Corp. said Thursday it expects to cut 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co.
http://biz.yahoo.com/ap/081211/bank_of_america_merrill_layoffs.html
 
Market is taking it in stride right now, but wait until the last hour of the day.:worried::sick::blink:
 
Show-me said:
Wow! Way worse than they expected and 80,000 more jobs lost in last months revision.
Click to expand...

Will the S&P hit a new low today or beak through 900? Will the market shrug off the news?
I am thinking the S&P may dip below 800 briefly.:blink:
 
JWT INSIDE
Layoff Report



November 21, 2008
Number of Entries: 111


AEROSPACE AND DEFENSE


BAE Systems
London, England
Norfolk, VA

BAE Systems, the global defense company that runs the largest private shipyard in South Hampton Roads, said Thursday it will cut 40 positions as it shutters its maritime engineering and service division. BAE plans to cut 134 positions of the 200 people employed in that division nationwide by the end of the year, said Stephanie Moncada, a local BAE spokeswoman. The division specializes in corrosion control and performed blasting and paint work on vessels, she said. "After much consideration, the business was not viable and we decided to close that portion of the business and focus on ship repair," Moncada said. Employees to be cut in Norfolk will be given the opportunity to apply for jobs within the ship repair division, she said, and the company expects to absorb a majority of those who are to be laid off. The company will cut 134 positions nationwide this year, 40 of them locally. It employs about 1,200 at its Norfolk shipyard.

Approximate Affected Workforce: 1-50
Source: The Virginian-Pilot - November 14, 2008



AEROSPACE AND DEFENSE


The Boeing Company
Chicago, IL
Wichita, KS

Boeing Co.'s defense unit plans to cut 800 jobs, or about 27 percent of the workforce, at its plant in Wichita, Kan., because of the delay of an Air Force tanker replacement program and the end of other work projects. The Chicago-based company, which makes military aircraft, civilian jetliners and surveillance systems, said Wednesday that the reduction at the Integrated Defense Systems facility will affect managers as well as salaried and hourly workers. The Wichita operation, a defense facility that provides limited support for Boeing's commercial aircraft business, employs about 3,000 people. Work at the facility includes modifying Boeing aircraft for international customers. Among its programs are executive aircraft, 767 international tankers and refueling systems support for B-52s. Sixty-day layoff notices will be delivered Friday to about 76 employees, Boeing said. Their last day of work is scheduled for mid-January. The rest of the layoffs will continue throughout 2009, with most occurring in the first half of the year, Boeing said.

Approximate Affected Workforce: 501-1000
Source: Chicago Tribune - November 20, 2008



APPAREL


Allen Edmonds Shoe Corporation
Port Washington, WI

Allen-Edmonds Shoe Corp. has eliminated 40 jobs, or 8% of its workforce, mostly in shoe manufacturing at the Port Washington plant. Chief Executive Officer Paul Grangaard said the job cuts were the result of reduced sales of shoes in this economy. "It's significant," Grangaard said of the sales slump. "There's also a fashion trend that's been working against us." Demand for leather-bottom shoes, which make up most of the company's styles, has declined as men turn more to rubber-bottom footwear. Allen-Edmonds will introduce a new line of rubber-bottom shoes this winter, made at its plant in Lewiston, Maine. Next fall, the company plans to roll out another new line of shoes with rubber bottoms that are sewn on rather than glued. These shoes will be made in Port Washington, where Allen-Edmonds makes sewn bottoms, Grangaard said. The Port Washington plant will have about 300 workers after the layoff; total company employment will be 460, Grangaard said.

Approximate Affected Workforce: 1-50
Source: Milwaukee Journal Sentinel - November 14, 2008



APPAREL


Hanesbrands Inc
Winston-Salem, NC

A North Carolina textile company says it is laying off white collar workers in its home city as part of a cutback that includes closing a yarn plant elsewhere in the state. Hanesbrands Inc. announced Tuesday cuts of 210 corporate and management jobs across the company, including 155 positions in Winston-Salem. Hanesbrands said half of the cuts are in purchasing, production planning and development and quality control. The other half are in customer management, finance, human resources, information technology and marketing.

Approximate Affected Workforce: 101-500
Source: The Associated Press - November 19, 2008



AUTOMOTIVE


Automobile Club of Southern California
Los Angeles, CA
Elk Grove, CA

California State Automobile Association's Elk Grove office is laying off 34 people effective this week and another 70 people on Dec. 31, a spokeswoman confirmed. The layoffs come a little early as the automobile club prepares for a previously announced shuttering of its Elk Grove call center. The automobile club is moving jobs from Elk Grove and two other centers in California to other states to save money. "This has been a gradual ramping down of employees," spokeswoman Cynthia Harris said. Workers receive severance, job-search training, such as help writing resumes, and time off to go on job interviews. Some may transfer to other jobs within the organization.

Approximate Affected Workforce: 101-500
Source: Sacramento Business Journal - November 17, 2008



AUTOMOTIVE


Kenworth Truck Company
Bellevue, WA
Renton, WA

Kenworth Truck Co. plans to lay off more than 400 workers and end most truck production at its Renton plant as a two-year slump in truck sales moves into a third. Don Hursey, directing business representative for Machinists District Lodge 160, said he was told by Kenworth officials that 329 union and 92 management employees will be laid off. In a filing with the state Employment Security Department on Friday, Kenworth put the number of layoffs at 430. The layoffs and production cuts are effective Jan. 19. A Kenworth spokesman confirmed that the Renton plant is curtailing production and laying off workers, but did not give numbers. The plant will continue to produce daily two of the large off-road trucks used in such industries as mining and oil-field development, Hursey said. But production of conventional Class 8 heavy-duty highway trucks will be shifted to Kenworth's plant in Chillicothe, Ohio.

Approximate Affected Workforce: 101-500
Source: The Seattle Post-Intelligencer - November 15, 2008



BUSINESS SERVICES


Continental Promotion Group Inc
Tampa, FL

Just a day after it handed out pink slips to 17 employees, CPG Marketing Inc. and Continental Promotion Group Inc. of Tampa have filed for Chapter 11 bankruptcy protection Friday. The companies both list an Eisenhower Boulevard office as their address, and both have Daniel Granger as its chief executive. Continental Promotion lists assets of between $1 million and $10 million, and liabilities in the same range from between 200 and 999 creditors. CPG Marketing listed estimated assets of $1 million to $10 million, and liabilities of between $10 million and $50 million, with up to 50 creditors. Continental Promotion told Florida Agency for Workforce Innovation Thursday it would lay off 17 people by Nov. 19. It's unclear how many employees Continental and CPG had, and a call to the company's media contact, Amy Harich, was pending return Friday. Continental Promotion touts itself on its Web site as a promotional management services provider, interacting with more than 30 million consumers annually through manufacturer- and retailer-driven promotions, according to press releases from the company.

Approximate Affected Workforce: 1-50
Source: The Business Journal - November 14, 2008



BUSINESS SERVICES


IBM Corporation
Armonk, NY
Rochester, MN

For the second time in about two weeks, IBM job cuts have hit Rochester. "We did have a resource action involving 12 people in Rochester on Nov. 12," IBM spokesman John Buscemi confirmed on Friday. He declined to give any specific detail about what jobs and employees were affected. "We don't mention departments or positions, because we consider that competitive information," he said. Buscemi did say that the 12 employees have 30 days to try to find another job within IBM. If they don't find one, they will be eligible for severance pay based on years of service. This round of cuts in Rochester follows an IBM layoff of 10 people on Oct. 31.

Approximate Affected Workforce: 1-50
Source: Post-Bulletin - November 14, 2008



BUSINESS SERVICES


Lawson Software Inc
St Paul, MN

Lawson Software Inc. said Tuesday it will cut 200 workers, including about 45 in Minnesota, in order to trim costs. The St. Paul business-software firm said the bulk of the layoffs will wrap up by the end of the year. A little under half of the employees affected are based in the United States, a company spokesman said. Lawson (Nasdaq: LWSN) also plans to limit hiring and take other steps to reduce costs. Overall, the company expects to reduce its workforce by between eight and 10 percent by the end of its 2009 fiscal year. The company has about 3,600 employees. The restructuring is expected to save Lawson between $40 million and $50 million, the company said in a press statement.

Approximate Affected Workforce: 101-500
Source: The Business Journal - November 18, 2008



DISTRIBUTION/WAREHOUSE


Finning International Inc
Vancouver, BC
Edmonton, AB

Heavy-equipment distributor Finning has cut its workforce, including 39 positions in Western Canada. "The world is a different place than it was a month, two months ago," said Tom Merinsky, vice-president of investor relations for Vancouver-based Finning International Inc. Workers were laid off in Argentina, Britain and in Western Canada, eliminating 29 jobs at the company's 30 Cat Rental Stores in Alberta, B.C. and the Northwest Territories.

Approximate Affected Workforce: 1-50
Source: Edmonton, AB - November 20, 20
 
DuPont warns of quarterly loss, to cut 2,500 jobs
Reuters


The chemical maker said the 2,500 job cuts, which represent about 4.2 percent of its workforce, will occur in businesses that service the automobile and construction markets in Western Europe and the United States.

DuPont is also cutting the jobs of 4,000 contractors by year-end 2008 with additional contractor reductions in 2009.

Source: http://biz.yahoo.com/rb/081204/business_us_dupont.html
 
Pratt & Whitney lays off 350 employees
Wednesday December 3, 6:52 pm ET
By Donna Borak, AP Business Writer

Jet engine maker Pratt & Whitney lays off 350 on concerns about airline orders.

Jet engine maker Pratt & Whitney laid off about 350 employees across the country on Wednesday amid concerns that airlines may delay or cancel orders as the global economy slows.

Source: http://biz.yahoo.com/ap/081203/pratt_whitney_layoffs.html?.v=11
 
Viacom to cut 850 jobs, freeze some raises in 2009
By The Associated Press | 04 Dec 2008 | 09:38 AM ET Text Size NEW YORK -

The media conglomerate Viacom Inc. said Thursday that it will slash about 850 jobs and freeze some senior-level raises in a move to weather the global economic downturn.

The owner of MTV Networks, BET Networks and Paramount Pictures said the job cuts will affect about 7 percent of its work force and hit all departments.

The job cuts and suspension of some raises for senior-level executives in 2009 is expected to generate pretax savings of $200 million to $250 million next year.

Source: http://www.cnbc.com/id/28051107
 
AT&T to cut 12,000 jobs, 4 percent of staff

By BARBARA ORTUTAY, AP Technology Writer Barbara Ortutay, Ap Technology Writer

NEW YORK – AT&T Inc. joined the recession's parade of layoffs Thursday by announcing plans to cut 12,000 jobs, about 4 percent of its work force.

The Dallas-based telecommunications company — the nation's largest — said the job cuts will take place in December and throughout 2009. The company also plans to reduce capital spending next year.

Spokesman Walt Sharp said the layoffs will be "across the company and across the country," but would not specify what departments and cities would be most affected. These layoffs come on top of 4,600 jobs the company said in April it would eliminate.

The new cuts come as AT&T finds itself pulled by two currents at once. Not only is the recession leading businesses and consumers to curtail spending, but a long-term trend in the telecom industry is also at play: AT&T, which provides local phone coverage in California, Texas and 20 other states, has been seeing many customers defect from landline phones to wireless services. In the last quarter, AT&T basic voice lines in service dropped 11 percent.
Reflecting that shift, the company noted Thursday that even as it slashes some jobs, it would still be hiring in 2009 in parts of the business that offer cell phone service and broadband Internet access. AT&T, whose shares are down about 30 percent this year — while the Dow Jones industrial average is off 35 percent — remains profitable, and benefits from being the sole U.S. wireless carrier for Apple Inc.'s popular iPhone.
AT&T plans to take a charge of about $600 million in the fourth quarter to pay for severance costs. The company noted that many of its non-management employees have guaranteed jobs because of union contracts. All affected workers will receive severance "in accordance with management policies or union agreements," the company said.
Its shares were down 2.5 percent in pre-market trading, at $28.35.

Source: http://news.yahoo.com/s/ap/20081204/ap_on_bi_ge/at_t_jobs/print;_ylt=AuWtBvn3SwAmAIJddqHHaSVv24cA
 
James48843

James48843

Well-known member
This is a thread to collect storys of CONFIRMED job cuts. Not just "might have to cut...",. but real cuts announced. I'll start.


You can post just the headline and a key paragraph or two- to show the number of jobs cut.

If it is a long story, just post the key data, and then be sure to include a link to the whole story.

thanks
 
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