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Layoffs

Morgan Stanley Plans To Cut 1,500 More Workers

CNBC | Charlie Gasparino | Posted 05.25.2011 | Business

Morgan Stanley is planning another round of layoffs in the coming days, finalizing a plan to slash another 5 percent from its securities-firm workforc...

Huge Job Losses Set Off Recession Alarms

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — It's no longer a question of recession or not. Now it's how deep and how long. Workers' pink slips stacked ever higher in March as ...

Northwest Raises Fares, Freezes Hiring

AP | JOSHUA FREED | Posted 05.25.2011 | Business

MINNEAPOLIS — Fuel isn't getting any cheaper, so Northwest Airlines Corp. is going to make flying a little more expensive. Northwest has raised...

Merrill Lynch To "Quietly" Cut Up To 15 Percent Of Workforce

CNBC | Posted 05.25.2011 | Business

Merrill Lynch is now planning to cut 10% to 15% of its workforce--excluding brokers--sometime in May, CNBC has learned. Merrill Lynch CEO John Thain ...

More Government Bailouts May Be on Way

AP | TOM RAUM | Posted 05.25.2011 | Business

WASHINGTON — The economy is listing. So it must be time to bail. While there is little enthusiasm for government bailouts in general, voters ar...

20,000 Wall Street Jobs Threatened By Credit Crisis

Guardian | Andrew Clark | Posted 05.25.2011 | Business

More than 20,000 people are forecast to lose their jobs on Wall Street as the credit crunch bites into business at financial institutions over the nex...

Citigroup To Cut 2,000 More Jobs

New York TImes | Posted 05.25.2011 | Business

Citigroup plans to lay off another 2,000 investment bankers and traders before the end of the month, people close to the situation said on Wednesday. ...

Citigroup's Job Cuts Could Exceed 30,000

CNBC | Charlie Gasparino | Posted 05.25.2011 | Business

Citigroup's job cuts could reach 30,000 or more over the next year and a half because of increasing writedowns from subprime-related debt, CNBC has le...

Dangerous Cracks Appearing in Job Market

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Dangerous cracks in the nation's job market are deepening. Employers slashed jobs by the largest amount in five years and hundreds ...

BMW Plans 5,600 More Job Cuts

AP | ROLAND LOSCH | Posted 05.25.2011 | Business

MUNICH, Germany — Luxury automaker BMW AG said Wednesday it will cut another 5,600 jobs by the end of 2008, on top of 2,500 other positions that...

Getting Fired At Yahoo: A Liveblog

Silicon Alley Insider | Henry Blodget | Posted 05.25.2011 | Business

Yahoo's Ryan Kuder was canned today. A drag for him, but a gift for the rest of us--because he Twittered it. A new form of literature is in the making...

Morgan Stanley Cuts 1,000 Mortgage Jobs

AP | JOE BEL BRUNO | Posted 05.25.2011 | Business

NEW YORK — Morgan Stanley on Wednesday said it will cut 1,000 jobs as the nation's second-largest investment bank trims its residential mortgage...

Yahoo Layoffs Begin

Reuters Via ABC News | Posted 05.25.2011 | Business

As expected, Yahoo Inc began carrying out lay-offs up to 1,000 employees on Tuesday, as part of job cutbacks announced last month, several employees ...

Macy's to Cut About 2,300 Jobs

AP | LISA CORNWELL | Posted 05.25.2011 | Business

CINCINNATI — Macy's Inc. said Wednesday it will cut about 2,300 management jobs as the department store operator consolidates three regional div...

Recession Watch: Is Your Job Safe?

ABC News | SCOTT MAYEROWITZ | Posted 05.25.2011 | Business

With bad news coming out of Wall Street almost daily and the U.S. economy teetering toward a recession, should Americans also be worried about losing ...

Morgan Stanley To Layoff 1,000

AP | Posted 05.25.2011 | Business

Morgan Stanley plans to lay off about 2 percent of its workers this week to help cut expenses as the market for investment banking grows tougher, acco...

Tax Rebate Deal Could Mean Checks by May

AP | ANDREW TAYLOR and JULIE HIRSCHFELD DAVIS | Posted 05.25.2011 | Politics

WASHINGTON — With unprecedented speed and cooperation, Congress and the White House forged a deal Thursday to begin rushing tax rebates of $600 ...

Yahoo Going Forward With "Drastic" Layoffs: Source

Silicon Alley Insider | Henry Blodget | Posted 05.25.2011 | Business

A source close to Yahoo reports that Jerry Yang has decided to go forward with aggressive layoffs. The source believes the layoffs will be announced o...

Layoffs On The Rise: Are You Prepared?

Fox Business | Kathryn Tuggle | Posted 05.25.2011 | Business

Here's another scary word (besides the evil "R" word) that has been showing up in the news headlines lately: layoffs. Should you be worried? "This is...

Yahoo To Lay Off Hundreds Of Jobs

AP | Miguel Helft | Posted 05.25.2011 | Business

Yahoo is planning to lay off hundreds of employees in an effort to increase its profitability, prop up its deflated stock price and narrow the focus o...

Reports: Citigroup May Write Down Up To $24 Billion, Lay Off 20,000 Workers

CNBC | Charlie Gasparino | Posted 05.25.2011 | Business

Citigroup could write down as much as $24 billion due to subprime and credit-related losses, CNBC has learned. In addition, the company could lay off ...

Mortgage Lender Lays Off 2,403 Employees

AP | Alex Veiga | Posted 05.25.2011 | Business

Mortgage lender IndyMac Bancorp Inc. said Tuesday it will slash its work force by 24 percent, laying off 2,403 employees in a bid to cut costs as it t...

Citi Job Cuts Expected After Huge Losses Posted

AP | Posted 05.25.2011 | Business

Citigroup Inc. is expected to announce thousands of job cuts after posting dismal results for the fourth quarter, when the bank's mortgage-riddled por...

BMW To Cut Thousands of Jobs

AP | Michael Pohl | Posted 05.25.2011 | Business

BMW AG said Friday it will cut thousands of jobs next year, three months after incoming CEO Norbert Reithofer said he would focus on increasing the ra...

Source: Struggling Palm Lays Off 10 Percent Of Workforce

AP | May Wong | Posted 05.25.2011 | Business

Palm Inc., the troubled maker of Treo smart phones, laid off about 10 percent of its work force this week to cut expenses, according to a person famil...