job cuts

Big Blue Issuing Thousands of Pink Slips Amid Restructuring

Computer giant IBM reportedly has begun the process of laying off employees in the U.S. as part of a worldwide restructuring plan estimated to cost about $1 billion.

Goldman Sachs Plans Another Round of Job Cuts

Goldman Sachs will begin a fresh round of job cuts as early as this week, sources said Monday. The bank usually culls the weakest 5 percent of its employees around this time of year, but the cuts will likely be deeper in some businesses, particularly equities-trading.

Barclays to Cut 3,700 Jobs As Part of 'Project Transform'

Barclays new chief executive pledged a fresh course for the British lender on Tuesday, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals.

Blockbuster to Shutter About 300 More Stores, Lay Off 3,000

The video-rental chain Blockbuster plans to close about 300 stores across the country, losing about 3,000 employees. The closures will leave about 500 Blockbuster locations in the U.S. In 2011, Dish Network bought then-bankrupt Blockbuster for $320 million.

Morgan Stanley Shares Climb After Bank Swings Back to Profitability

Investment bank Morgan Stanley says it swung to a profit in the fourth quarter. Shares jumped in pre-market trading. The bank earned $867 million after stripping out an accounting charge. That's up from a loss of $374 million in the same period a year ago.

Avon to Cut 1,500 Jobs; CEO Says Layoff Will Stabilize Company

Struggling beauty products seller Avon said late Tuesday it will cut about 1,500 jobs and exit the South Korea and Vietnam markets. The job cuts amount to almost 4 percent of its workforce and are one of the first major moves by CEO Sheri McCoy, who in April replaced longtime CEO Andrea Jung.

Major Banks Cutting 160,000 Jobs Worldwide -- With More to Come

Major banks have announced some 160,000 job cuts worldwide since early last year, more layoffs are coming as the industry restructures. The numbers are much higher in Europe than in Asia or the United States -- and those loses will be a particularly heavy blow to Britain.

UBS To Cut 10,000 Jobs After Big 3Q Loss

Chipmaker AMD Suffers Big Losses, Announces Big Layoffs

PC chipmaker Advanced Micro Devices said on Thursday it will cut its work force of nearly 12,000 by 15 percent, its second round of layoffs in less than a year as it struggles with a weak global economy and a consumer shift toward tablets.

Campbell Closing Plants as Soup Consumption Falls

Campbell Soup Co., the world's largest soup maker, is closing two U.S. plants and cutting more than 700 jobs as it looks to trim costs amid declining consumption of its canned soups.

FedEx Delivers Bad News on the U.S. Economy

On Monday, FedEx delivered some rough news to its employees: With profits down and cargo volume dropping, the company is going to tighten its belt and jettison some crewmen. Viewed in isolation, this might not seem like big news. But in context, it's a bad sign for for the U.S. economy.

Layoffs Leave Everyone Worse Off

Corporate executives stick to a script when pulling the layoff lever: Cite the tough economic landscape, promise that employees will remain the firm's most valued asset, insist that there was no other option to protect the company's future. Here's why you shouldn't buy what corporate America's selling when it comes to life-ruining layoffs.

Which Comes First: Jobs or Profits?

Lots of companies are laying off workers, trying to cut costs and improve their profit margins. But how should investors view the news of job cuts at a company? As a sign of deep trouble and worse to come, or as proof of committed management and better times ahead? Here's how to read the pink slips.

ADP Bets on Small Business Growth to Offset Jobs

As the creation of new jobs slows and layoffs continue, small businesses keep hiring. ADP is betting those companies will continue to buck the trend. It's setting up new services to capitalize on that growth.

Layoffs Are Back as Public Sector Workers Get the Ax

Massive layoffs were both a cause and a symptom of the recent recession, but job creation began to revive late last year. Unfortunately, in May, the U.S. added only 58,000 jobs, and layoffs may be on the rise again. This time, they're taking a particular toll on state and local government workers.

While Airlines Are Profiting Again, Fliers Are Suffering

Of all the industries that have achieved record profits recently, none have posted more remarkable results than the airline industry. For the first time in a decade, the industry is on a glide path to profitability -- but it's getting there by squeezing its customers.

Where Are Jobs Going Now? Peru, Bulgaria, Bangladesh. . .

The U.S. is hardly alone in losing work to cheaper skilled labor in foreign countries. Australia, Canada and Israel, among others, have dropped off Gartner's list of the top 30 countries for outsourcing. Here's where IT and business-processing jobs are heading.

TJX to Cut 4,400 Jobs, Eliminate A.J. Wright Brand

The TJX Companies announced Friday that it was shutting down its A.J. Wright brand, converting 91 of its 162 stores to those of its other brands -- T.J. Maxx, Marshalls or HomeGoods -- and closing the rest. The move will eliminate 4,400 jobs, about half of them part-time positions.

State Street to Cut 1,400 Jobs

Employers Add Most Jobs in Five Months

The jobs market gained steam in October as companies added 151,000 jobs - the largest amount since May. Despite the better-than-expected gains, the unemployment rate remained steady at 9.6%.

Pharmaceutical and Biotech Jobs Keep Disappearing

Companies that develop medicines have been bleeding jobs in the last few months, with three -- Biogen Idec, Charles River Laboratories and NicOx -- announcing about 1,000 new workforce cuts this week. When will the bleeding stop?

Nokia to Cut 1,800 Jobs, Posts Strong Profit

Insurance Broker Aon to Cut Up to 1,800 Jobs

Aon Corp., the world's biggest insurance broker, revealed in a regulatory filing Thursday a restructuring plan which includes cutting 1,500 to 1,800 positions globally, as it combines the operations of the recently acquired Hewitt Associates with its own.

Sanofi-Aventis to Cut 1,700 Jobs in the U.S.

Alstom to Power Down Its Power Plant Work Force

In a sign that large fossil-fuel power plants may be falling out of favor, French engineering company Alstom on Monday announced plans to cut 4,000 jobs in the next 17 months. Alstom cited low demand for its coal and natural-gas plants. Its renewable-energy operations won't be affected by the cuts.

The Growing Mismatch Between Jobs and Skills

In the U.S., 52% of companies report problems attracting critical-skill employees. And some of the hottest jobs over the next 10 to 15 years require tech skills that most people aren't learning. Here's what some workers and companies are doing about it.