Saturday, April 18, 2009

Toledo plans to layoff 300, including 75 officers


TOLEDO, Ohio (AP) -- Toledo is planning to layoff about 300 city workers to deal with a $20 million budget deficit.

Toledo Mayor Carty Finkbeiner announced the cuts Friday. They include 75 police officers on top of the 75 officers the city already planned to let go.

Finkbeiner says some of the job losses could be avoided if union leaders agree to contract changes, such as pay cuts, or if city council took action to increase revenue.

The city also plans to force nonunion employees to take a 20 percent pay cut by going to a 32-hour work week.

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Boeing issues 300 layoff notices


read article under copyright at link above

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Tuesday, April 14, 2009

Qantas slashes profit estimate, plans mass job cuts


By Myra P. Saefong, MarketWatch

TOKYO (MarketWatch) -- Qantas Airways said Tuesday it is cutting its fiscal 2009 earnings expectation by as much as 80% and plans to lower its flying capacity, reduce spending and eliminate up to 1,750 jobs in response to a major slump across the air travel industry.

"Market conditions have deteriorated, especially in our international business," said Chief Executive Officer Alan Joyce. "We are experiencing significantly lower demand, particularly in premium classes, and considerable price pressures with extensive sales and discounting by all carriers."

The Australian flag carrier said it now expects its profit before taxes to fall to a range of A$100 million to A$200 million ($72 million to $145 million), compared to its previous forecast of A$500 million.

In the year ending June 2008, Qantas earned A$1.41 billion.

The new outlook "is subject to no further changes in market conditions, fuel prices, and volatility in hedge accounting results," Qantas said in a statement.
But Joyce added that, looking ahead, "Qantas expects the current volatility in operating conditions to continue for some time," and that "these volatile market conditions make it difficult to provide forecasts."

The company also said the capacity reductions and related restructuring will likely impact up to 1,250 full-time jobs, and it plans to remove an additional 500 management positions.

Qantas said it will minimize redundancies for the 1,750 positions by utilizing workforce initiatives, but "some redundancies will be unavoidable and will lead to additional restructuring costs in 2008/2009."

It said it also will reduce its flying capacity by around 5% and ground up to 10 aircraft.

Shares of Qantas (AU:QAN: news , chart , profile ) touched a low of A$1.74 before closing 2% higher at A$2, tracking the broader gains in Sydney, where Australia's S&P/ASX 200 finished with a gain of 2.2%.

Following the airlines' announcement Tuesday, Standard & Poor's Ratings Services lowered its corporate credit ratings on Qantas to BBB/A-3 from BBB+/A-2 and said its rating outlook on the company remains negative.

Moody's said its downgrade to Baa2 from Baa1 in February anticipated the reduced earnings outlook.

Myra P. Saefong is MarketWatch's assistant global markets editor, based in Tokyo.

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Tuesday, April 07, 2009

Navistar to lay off final 345 employees in Chatham


The Canadian Press

CHATHAM, Ont. — Layoff notices have been issued to the remaining 345 employees at the Navistar truck plant in Chatham, Ontario.

The layoffs are due to take effect June 27th -- three days before the workers' current contract expires.

The company is required by law to issue the notices.

Bargaining on a new contract is expected to start early next month.

Already this year, Navistar has had two rounds of layoffs covering almost 700 workers at the plant.

The heavy truck industry is being hit hard by the U-S recession and the slumping Canadian economy.

Last year, rival Stirling Truck announced the closing of its plant in St. Thomas, Ontario, resulting in the loss of about 2,000 jobs.

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CMS announces 107 more layoffs


The cuts, including math and science coordinators and ESL assistants, save $4.3 million, bring total job loss to 213.
By Eric Frazier


CMS Superintendent, Dr. Peter Gorman speaks to the 24-member Athletic Eligibility Advisory Committee Thursday afternoon. TODD SUMLIN - tsumlin@charlotteobserver.com
To purchase this photo | Browse our store

Charlotte-Mecklenburg Schools has added 107 more employees to its layoff list, this time including math and science coordinators and English as a Second Language assistants.

The cuts, announced Friday afternoon by Superintendent Peter Gorman, will save the district $4.3 million.

“The economic downturn is forcing the district to make some very hard decisions about trimming our expenses,” Gorman said in a statement. “And because so much of our budget is tied up in people, these cuts are necessary.”

Officials have said they need to cut as many as 534 jobs from the 2009-10 budget to make up for a multi-million dollar shortfall brought on by the recession. In all, CMS is considering cuts that could total more than $86 million.

“We've been meeting with people on an ongoing basis,” Gorman said earlier this week. “In some cases, we meet with groups. In some cases, the meetings are one-on-one. We are working hard to respect the integrity of our employees. This is a difficult time for them.”

Some educators with career status, more commonly known as tenure, are concerned that initial layoff letters from CMS didn't spell out their state-mandated rights, including the right to a hearing before the school board.

Chief Operating Officer Hugh Hattabaugh said Gorman was sending letters Friday to employees clarifying how the layoffs could affect them and informing them of their legal rights.

Charlotte attorney John Gresham said he's been contacted by “five or six” affected educators, and is waiting to see what the latest letter says. But so far, he said, “the message that's been coming out has left a number of employees very concerned.”

Classroom teachers were again spared, but more than 300 could find themselves among later rounds of cuts if money from the federal stimulus or other sources doesn't alter the budget picture.

Gorman said in an e-mail to all employees that some information about the stimulus money is starting to trickle down from the federal government, but “it's still impossible to be sure what relief, if any, CMS will get.”

Other positions cut this week and announced Friday include career and technical education coordinators and “behavior modification technicians” who help deal with disruptive students. Friday's cuts also include jobs from finance, curriculum and instruction and family services, as well as schools.

Last week, CMS cut 106 jobs from the superintendent's office, communications, accountability, curriculum and instruction, the six “learning community” offices scattered around the county and the Achievement Zone, which oversees 11 struggling schools.

Taken with the cuts announced Friday, CMS has eliminated 213 jobs and saved $11.9 million. Only 30 of the jobs were vacant.

CMS has about 19,000 full-time employees serving its 174 schools. Last year's budget totaled $1.2 billion. Gorman will present his 2009-10 budget proposal to the school board later this month. The county commission will give final approval.

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600-plus get layoff alerts from TUSD


More than 600 employees were notified Friday that they are part of a massive layoff in the Tucson Unified School District.
Of the district's 3,800 certified employees, including teachers, librarians and counselors, 560 received notice that they'll be getting their pink slips if the Governing Board approves the list Tuesday.
Sixty-five of the district's 182 administrators, from principals to department directors, also were given notice.


While the layoffs were anticipated given the potential for deep state budget cuts, slipping student enrollment and the fact that employees needed to be notified by April 15 if they were going to receive a contract for the next school year, the list went deeper than many had expected.
All teachers in their first, second and third years with the district were given notice, with the exception of teachers in alternative education, special education and hard-to-fill positions such as highly qualified math and science teachers.
Last year at this time, only 40 elementary teachers were put on notice. But this year, the district is reacting to a worst-case scenario of a $63 million hit.
The pink slips might not be permanent, though. Alyson Nielson, TUSD's director of employment services, said the district will begin hiring employees back as soon as more information becomes available on the budget.
"We are trying to be conservative, but once we become a little more confident as the budget takes shape, we can start getting teachers back into positions. I expect we'll be in a situation to begin to recall staff before the school year is even out."
That doesn't mean it won't be disruptive.
Many principals have made conscious hiring decisions and have invested time in training teachers to match their own expectations. And because staff callbacks will be done largely by seniority and certification, schools won't necessarily get back their original staffers.
And some schools will be more profoundly impacted than others.
Dodge Middle School, which has a mature teaching stable, doesn't have teachers on the list, although like all of the other schools it has to make plans to cut its budget by 18 percent. Those plans are due to the district April 30. Principal Cathy Comstock said she expects in the worst case to lose an assistant principal and a librarian, but her staff otherwise wasn't immediately affected by the layoffs.
John Bellisario, the principal at Valencia Middle School, meanwhile, is losing 30 percent of his teachers. The far Southwest Side school is in a high-poverty area, has struggled with an "underperforming" label for two years and has high teacher turnover.
Bellisario, in his first year at the school, said it's a different campus already under his leadership. But he's worried about the impact the cuts will have.
"I'm really concerned because we have done a lot of work with professional development with our staff," he said. Getting a new staff, he said, "will be like starting from scratch. We've made a lot of progress and come a long ways, so this is a setback."
Nielson said the human-resources staff is trying to be sensitive to such concerns. Teachers who are part of the layoffs are filling out forms listing school preferences and credentials.
"Somebody at Broadway and Houghton, for example, would have a hard time getting to a school on the other side of town," she said. "We're going to try to work within those preferences."
Same with teaching philosophy. Teachers at Drachman Montessori Magnet, for example, have to be comfortable with Montessori methods, while teachers at Cholla High Magnet School should have some familiarity with its focus on International Baccalaureate programs.
"We might be biting off more than we can chew," Nielson acknowledged, given the scope of the layoffs, "but we're going to work really hard to make sure we find the best fit possible."
Contact reporter Rhonda Bodfield at 806-7754 or rbodfield@azstarnet.com.

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Monday, March 23, 2009

Nokia to Layoff 1700 Worldwide


Nokia Corp. said Tuesday it will lay off 1,700 people worldwide to cut costs, as the global economic downturn strikes deeper into the mobile phone sector.

The world’s top mobile phone maker said the job cuts will affect several sectors, including its devices and markets units, the corporate development office and global support functions.

“The number of employees we have to reduce is 1,700,” Nokia spokeswoman Arja Suominen said, adding that details would be announced after the company begins negotiations with employees.

Nokia shares fell 2 percent in Helsinki to close at euro8.65 ($11.25) after the announcement, which came as the industry bellwether continues to struggle with falling demand and handset prices.

In January, Nokia warned of major cost-cutting measures after its fourth-quarter net profit crashed 70 percent to euro576 million ($744 million). It also lost market share, which fell to 37 percent from 38 percent in the previous quarter and 40 percent in the fourth quarter of 2007.

Nokia said it would aim for annual savings of euro700 million at its handset unit, but gave no details at the time.

Last month, Nokia said it will close a research center, ax up to 320 jobs and temporarily lay off 2,500 workers in Finland. It also announced a global voluntary resignation program, open to employees until May 31, in a move aimed at cutting personnel by 1,000.

It has also said it plans to increase short-term unpaid leaves and sabbaticals, and has appealed to employees to accept holiday time as payments, instead of cash, for overtime work in 2009.

Based in Espoo near Helsinki, Nokia last year remained the No.1 cell phone maker selling 468 million handsets, up 7 percent on 2008. It employs 128,400 people worldwide.

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Toro Co. to lay off about 235 from Tomah site


MADISON, Wis. - The Toro Co. has told Wisconsin officials it will lay off about 235 workers from its Tomah site next month.

The Bloomington, Minn., company makes products for landscape maintenance.

A Toro executive told Wisconsin officials in a letter last week the layoffs are expected to occur on or about April 20.

The Wisconsin Department of Workforce Development released Toro's letter on Tuesday, as well as notices from three other companies.

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Potash Corp. extends layoff of 940 workers


Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash’s Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

With inventories in its key markets expected to be mostly depleted in the second quarter of this year, the company said it is expecting a strong rebound in potash demand in the second half of 2009 that should continue into 2010.

“Farmers, like other consumers, have been on a buying hiatus but they cannot remain on the sidelines indefinitely,? said PotashCorp CEO Bill Doyle.

?People need to eat, farmers need to grow and sell crops, and maintaining soil fertility is essential for those things to happen,” he said in a release.

With files from Canadian Press

Bellevue Center developer asks for year delay for overhaul
Sask. legislative sitting expected to be all about the economy
Autoworkers feel stuck between buyouts, possible future cuts

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CAT Announces More Layoffs


Caterpillar Inc. (CAT) plans to lay off 2,454 employees across 5 plants in Illinois, Indiana and Georgia to cut costs amid recessionary conditions.

The stock is trading marginally down 0.5% while volumes are at lower-than-average levels. The world’s largest manufacturer of mining and construction equipment said the layoff will impact 2,365 support and management workers for 6 months, while 89 will be let go permanently.

CAT had announced the elimination of 22,000 positions in January coupled with an up to 50% reduction in executive compensation.

Analysts have already slashed fiscal 2009 earnings estimates by 8 cents over the past month and by $2.22 over the past 60 days.

CAT is currently a Zacks #5 Rank ("Strong Sell") stock.

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Caterpillar To Layoff Hundreds In Indiana


Follow link to article under copywright

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Saturday, March 07, 2009

Employees: Halliburton Layoffs in the Hundreds


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Layoffs Announced at Northrop Grumman


Spansion Layoffs 3,000


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Tuesday, March 03, 2009

HSBC CLOSES LENDING UNITS; 6,100 CUT


By KAJA WHITEHOUSE

Last updated: 4:20 am
March 3, 2009
Posted: 4:20 am
March 3, 2009

Getting a loan just got a lot tougher.

British bank HSBC, often referred to as the nation's second-largest provider of US consumer loans, announced yesterday that it's shuttering two units dedicated to consumer lending.

The closure of the two units - HFC and Beneficial - will result in 6,100 job losses and the closing of 800 branches that provide mortgage refinancing and personal loans, among other forms of debt financing.

Beneficial has three branches in the New York area, including one in Brooklyn and another in Sunnyside, Queens, according to the firm's Web site. HFC also has three branches in the region, including one in Bayside, Queens.

HSBC's bank branches, which are scattered throughout Manhattan and the boroughs, won't be affected. HSBC will continue to underwrite residential mortgages through the bank branches, said a spokeswoman for the company.

The move comes as the parent company, HSBC Holdings, reported a 70 percent drop in 2008 net profit amid losses tied to the US mortgage and subprime loans.

The company, one of the few to have avoided a government bailout, is seeking to raise $17.7 billion from shareholders through a share sale.

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Friday, February 27, 2009

JPMORGAN TO AX 12K


By PAUL THARP

Last updated: 11:54 pm
February 26, 2009
Posted: 12:00 am
February 27, 2009

JPMorgan Chase plans to eliminate 12,000 jobs as it swallows failed bank Washington Mutual.

The financial giant said it expects to save about $2 billion by combining operations of the two firms, with about $1.35 billion saved in payroll alone.

Shares of JPMorgan jumped nearly 10 percent on the moves before settling at $23.05, a 6 percent rise.

Most of the cuts will come from Washington Mutual, with as many as 2,000 from JPMorgan's investment banking arm, officials said.

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Wednesday, February 25, 2009

Nokia seeks 1,000 voluntary layoffs


Read article by following link to article under copywright

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Suozzi proceeding with cuts, layoffs despite stimulus


Suozzi proceeding with cuts, layoffs despite stimulus

Thomas Suozzi

Nassau County Executive Thomas Suozzi (Photo by Howard Schnapp / February 3, 2009)


Despite the expectation of up to $127 million in federal stimulus cash over 27 months, Nassau County Executive Thomas Suozzi said Tuesday he will proceed with painful cuts and layoffs if he can't get the union concessions he wants this week.

But leaders of county employee unions shot back that Nassau should direct more stimulus money to ameliorate service cuts and layoffs. The leaders are scheduled to continue negotiations tomorrow with Suozzi administration officials.

Suozzi already has budgeted $50 million in increased federal Medicaid aid to help fill an estimated deficit of $130 million to $150 million this year. He is pushing state lawmakers to approve another $30 million in new taxes and fees.

But even if Nassau ends up getting somewhat more in Medicaid aid than anticipated, Suozzi argued yesterday that the unions still will have to agree to salary cuts or layoffs to close the budget gap.

Suozzi proceeding with cuts, layoffs despite stimulus

Thomas Suozzi

Nassau County Executive Thomas Suozzi (Photo by Howard Schnapp / February 3, 2009)


Despite the expectation of up to $127 million in federal stimulus cash over 27 months, Nassau County Executive Thomas Suozzi said Tuesday he will proceed with painful cuts and layoffs if he can't get the union concessions he wants this week.

But leaders of county employee unions shot back that Nassau should direct more stimulus money to ameliorate service cuts and layoffs. The leaders are scheduled to continue negotiations tomorrow with Suozzi administration officials.

Suozzi already has budgeted $50 million in increased federal Medicaid aid to help fill an estimated deficit of $130 million to $150 million this year. He is pushing state lawmakers to approve another $30 million in new taxes and fees.

But even if Nassau ends up getting somewhat more in Medicaid aid than anticipated, Suozzi argued yesterday that the unions still will have to agree to salary cuts or layoffs to close the budget gap.

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GM, Chrysler Restructure with Layoffs, Plant Closures



Detroit
DETROIT-Tuesday, General Motors and Chrysler submitted the first part of their plan for viability to the federal government. The companies requested an additional $14 billion to bail them out of their financial crisis and vowed to cut jobs and close plants.

GM’s plan involves the elimination of 47,000 additional jobs, from its current worldwide workforce of 244,000. Roughly, 21,000 US employees will lose their jobs in this round of layoffs. Between 2000 and 2008, GM shuttered 12 manufacturing facilities in the US. It has plans to close an additional 14 plants, which is five more than it planned to eliminated in December. When the closures complete by 2012, GM will own 33 North American plants. It is uncertain at this time which plants will be closing.

Additionally, GM plans to re-shape its dealer network with fewer and better located dealerships. From 2004 to 2008 dealerships declined from 7,367 to 6,246, a 15% reduction. Current plans will accelerate dealership reduction by an additional 25%. This will mean decreasing the total number of US dealerships from 6,246 to 4,700 by 2012. An additional 600 dealerships could be eliminated by 2014.

In December GM asked the federal government for $18 billion to help make the company viable again. It is now adjusting that number, requesting an additional $7.5 billion worth of government aid and a $4.5 billion US secured revolver credit facility. Repayment of the $30 billion worth of loans would begin in 2012, according to current plans.

"The U.S. and global auto industries are facing times of unprecedented challenge," says GM chairman and CEO Rick Wagoner, in a release. "These conditions dictate that we must take very tough actions to accelerate GM's restructuring efforts. The plan we delivered today to the US Treasury is aggressive but achievable. It provides a clear pathway for GM that continues to support American manufacturing and technology innovation, which are vital to the future of our nation's economy."

Chrysler has plans to eliminate an additional 3,000 jobs. At the end of 2008, Chrysler had already reduced its workforce by 37%, for a total of 32,000 layoffs. The company will also discontinue three vehicle models. For its part, Chrysler has requested an additional $2 billion government loan, on top of it’s original $7 billion request. The company is still working with Italy’s Fiat to bring the Italian automaker into the mix as a strategic alliance partner. The non-binding agreement gives Fiat a 33% control of the company, with the possibility of taking 55% control down the road.

“We believe the requested working capital loan is the least-costly alternative and will help provide an important stimulus to the U.S. economy and deliver positive results for American taxpayers,” Chrysler officials said in a statement. “This plan will ensure the continued provision of health care and pension benefits to our active employees and retirees, while continuing to protect hundreds of thousands of middle class, quality American jobs at Chrysler, our dealer network and our suppliers."

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Monday, February 23, 2009

Tech Layoffs Surge to 300,000


Layoffs in the tech sector are accelerating. It took exactly three weeks for tech layoffs to surge to 300,000, according to our Layoff Tracker. Since late January, when the tracker hit 200,000 layoffs, another 100,000 job eliminations have been announced or completed. In contrast, it took five weeks for layoffs in the tech industry to hit the 200,000 mark, and four months for layoffs to hit 100,000 last December. The total number of layoffs since we began tracking since the financial crisis began in late August is 300,093.

The past few weeks have particularly brutal for the technology space, with substantial layoffs announced by Pioneer (10,000), Cisco (3,000), Panasonic (15,000), NEC (20,000), Electronic Arts (1100) and AOL (700). Even Bloomberg and The Wall Street Journal, who both managed to avoid layoffs in the past few months, were forced to make cuts to their workforces. And Google, who was immune to layoffs until late January, continued giving pink-slips in the past three weeks with the company’s exit from radio. Sadly, a few start-ups weren’t able to weather the storm, with eBaum’s World cutting all of its workforce.

Obviously the tech industry is not immune to the current economic climate, and if the past three weeks are any indication, things could still get worse for the tech space before they get better. Maybe that economic stimulus plan will help turn the tide.

If you know of any layoffs at a tech company, please submit a tip with the name of the company and number of layoffs. If it’s been covered, also send a link to the blog post or news article. (For who is hiring, check out our job board).


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