Tag: Layoffs
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Credit Suisse says retail layoffs in 2016 could be highest since 2010
Credit Suisse said on Monday that there could be more than 37,000 layoffs in the retail industry in 2016. There have already been more than 24,000 retail-sector job cubs in 2016 and analysts say we are on track to have the most retail industry layoffs since 2010. As retailers continue to file for bankruptcy, analysts […]
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Intel is laying off 11% of its entire workforce
Intel is about to wipe out 11% of its global workforce or about 12,000 workers, the company announced on Tuesday. As of the end of 2015 Intel employed about 107,300 staff members. Most of the employees affected by the layoffs will be notified in the next 60 days while some cuts will continue through mid-2017. While […]
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Boeing layoffs continue with 4,000 workers on their way out
Boeing has announced plans to cut 4,000 jobs as the airline manufacturer battles against Airbus and attempts to reduce costs based on softer than expected demand. The 4,000 jobs would equal about 2% of its worldwide staff. The company will cut positions through normal attrition, voluntary buyouts, and by leaving unfilled positions open. “We’ll only […]
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Zenefits is laying off nearly 250 employees
Zenefits is getting rid of 17% of its employees, or nearly 250 people. An email sent by CEO David Sacks says the layoffs will focus mostly on the company’s sales divisions. “When I became CEO of Zenefits, I promised on Day 1 to reset our culture, refocus our strategy on serving small businesses, and create […]
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Tiffany is slashing jobs after a dismal holiday sales season
There was no bling in Tiffany’s holiday ales. The company announced on Tuesday that sales slumped 5% at stores open at least a year, due mostly to the strong US dollar that scared away tourists. The company downgraded its 2015 profit outlook and moved to cut costs by slashing jobs. The poor sales mark the […]
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Yahoo planning to cut 10% of its workforce
Yahoo Inc. is planning to cut 10% of its overall workforce and it could begin the process in January, according to a report from Business Insider. “We are not confirming this rumor or commenting further”, Sarah Meron, a spokeswoman for Yahoo told Reuters on Thursday in an e-mail. If the news is accurate it would […]
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Macy’s is laying off 4,000 employees after a mediocre holiday season
Macy’s is planning to lay off nearly 4,350 employees across the country after the company failed to hit sales targets over the holiday shopping season. Macy’s on Wednesday said about 3,000 sales associates will be impacted, or about three to four per Macy’s and Bloomingdale’s location. The company believes half of the affected store associates […]
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Wal-Mart Is Preparing To Cut 500 Corporate Jobs
Wal-Mart is said to be preparing a round of layoffs that could be announced as early as Friday. According to the rumor, the layoffs will affect hundreds of employees at its Bentonville, Arkansas, headquarters. A company snoop says human resources has reserved most of the meeting rooms at the company’s headquarters, as well as small […]
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Boeing Satellite Division May Cut ‘Several Hundred’ Jobs In 2015
Boeing on Monday told its workers that it expected to cut as many as “several hundred” jobs in its satellite business through the end of 2015. The cuts are expected because of a downturn in U.S. military spending and delays in commercial satellite orders. The company notes that recent launch failures and uncertainty about the […]
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Kraft Heinz Is Axing 2,500 Jobs In The U.S. And Canada
The Kraft Heinz Company has announced plans to cut 2,500 jobs as part of its broad-reaching restructuring plan. The job cuts affect workers in the United States and Canada. The company’s agreed to restructure their operations after completing a massive $46-billion merger of ketchup maker H.J. Heinz with Kraft Foods. 700 jobs will be cut […]