layoffs – News Stories About layoffs - Page 14

Jan 14, 2008 6:14 AM CST

Music Giant EMI Slashing 2,000 Jobs

Robbie Williams warns he'll withhold album to protest 'bean counters'

(Newser) - The new owners of record company titan EMI are cleaning house, starting with the elimination of 2,000 jobs—a third of its workforce—in a restructuring that could also include dumping artists, reports the Wall Street Journal. The layoffs come as new owner, Terra Firma Capital, tries to rejuvenate...

Palm Lays Off 10% of Workforce

Dec 14, 2007 8:12 AM CST

Palm Lays Off 10% of Workforce

Missteps, growing competition plague smart phone maker

(Newser) - Palm, the struggling maker of the Treo smart phone, laid off more than 100 of its 1,150 worldwide employees this week as part of an expense-cutting restructuring. The company, facing stiffening competition, has compounded its recent woes with product launch delays and the September cancellation of the Foleo portable...

Citigroup Readies Layoffs,
Round Two

Nov 26, 2007 11:01 AM CST

Citigroup Readies Layoffs, Round Two

Big losses mean big job cuts

(Newser) - Citigroup is planning "massive" new layoffs, CNBC reports, less than a year after the financial giant cut 17,000 jobs. After announcing that it may have to write down as much as $11 billion more in mortgage losses, Citigroup has been looking for ways to cut costs, as well...

Gaming Giant to Close Chicago Office

Nov 6, 2007 11:43 PM CST

Gaming Giant to Close Chicago Office

EA shutters 'Fight Night'-producing studio as part of restructuring plan

(Newser) - The video game maker Electronic Arts is closing its Chicago office, laying off or relocating nearly 150 employees, the San Jose Mercury News reports. A spokesman for EA says the Chicago studio, which had tripled in size since 2004, wasn't profitable, and likely wouldn’t have been for at least...

Chrysler to Lay Off 12,000

Nov 1, 2007 11:59 AM CDT

Chrysler to Lay Off 12,000

Company will cut jobs, vehicles to adjust to failing auto market

(Newser) - Chrysler today announced plans to cut up to 12,100 jobs, about 14% of its workforce, on top of the 13,000 layoffs announced in February. With the US auto market tumbling—sales are on pace for their worst year since 1998—Chrysler’s new owners, private equity firm Cerberus...

BBC Cuts 1,800 Jobs, Updates
for Digital Age

Oct 18, 2007 5:41 PM CDT

BBC Cuts 1,800 Jobs, Updates for Digital Age

Funding shortfall, shifting audience leads to restructuring

(Newser) - The BBC will cut 1,800 of its 18,000 jobs and integrate its TV, radio and Internet news operations to adapt to the digital age, the public broadcaster announced today. As many as 2,500 positions may be lost, but others will be added, the BBC said, to reflect...

Struggling AOL to Take 2,000 Jobs Offline

Oct 15, 2007 1:22 PM CDT

Struggling AOL to Take 2,000 Jobs Offline

Subscriber losses prompt Time Warner to trim workforce 20 percent

(Newser) - Internet icon AOL will pink slip 2,000 workers tomorrow—1,200 from the US—as the once-dominant service provider tries to re-energize its business. In August corporate parent Time-Warner announced that AOL had lost 1.1 million paying subscribers, and reported second-quarter sales of $1.3 billion, a 38%...

Countrywide Will Slash
up to 12,000 Jobs

Sep 7, 2007 6:31 PM CDT

Countrywide Will Slash up to 12,000 Jobs

(Newser) - Troubled mortgage lender Countrywide announced today that it would cut up to 12,000 jobs–or some 20% of its total workforce–over the next three months. The Wall Street Journal reports that, as the subprime debacle rocks the housing market and the lending industry, Countrywide expects to issue 25%...

Layoffs Sink Stock Prices, Says Study

Apr 29, 2007 8:00 AM CDT

Layoffs Sink Stock Prices, Says Study

Forget the Seven Percent Rule; workforce morale critical to value

(Newser) - Economists have long doubted the precept that cutting a company's payroll will lead to a spike in its stock price. But try telling that to CEOs, who are still trying to emulate the turnarounds achieved by G.E. and Proctor & Gamble. Now, a study reveals that markets actually have...

Citigroup Cuts 17,000 Jobs

Apr 12, 2007 9:47 AM CDT

Citigroup Cuts 17,000 Jobs

Investors demanded downsizing; now the pressure's on raising revenue

(Newser) - Citigroup will cut 17,000 jobs in an attempt to close the gap between its revenue, up 7% last year, and its expenses, up 15%. The two-year cost-cutting plan comes after shareholders demanded major changes, but analysts agree that lowering expenses is only the first step. Upping revenue is the...