What better way to celebrate the POS’s inauguration than a review of the many layoffs happening in America?
A week ago, our tireless DCG did a post on Time‘s plan to lay off 700 staffers, which is nearly 9% of the news weekly’s 8,000 work force. Here are other corporate layoffs:
- American Express Co. plans to eliminate 5,400 jobs in a move that will reduce its work force by 8.5%. (Source: NASDAQ)
- Circuit City , which is filing for bankruptcy, is laying off about 17% of its domestic work force, which could affect up to 7,300 people.
- German mail and logistics company Deutsche Post will cut 9,500 jobs at its DHL unit in the U.S. and eliminate U.S.-only domestic express shipping. The new round of cuts are on top of another 5,400 job cuts the company previously had announced.
- Nortel Networks plans to lay off 1300 workers, nearly 5% of its workforce.
- Motorola will slash 3,000 jobs after posting a third-quarter net loss and revenue fell a steeper-than-expected 15%.
- Ford said it would cut 2,260 white-collar workers in North America.
- General Motors , which previously said it would reduce salaried employment costs by 20%, will also cut another 1,900 salaried jobs on top of the 5,100 announced last summer. GM also said it is reducing some employee benefits, including 401 k contributions and other programs.
- Fidelity Investments will start laying off about 2.9% of its global workforce later this month—affecting 1,288 workers in the first round—with plans to trim more workers.
- Toy maker Mattel Inc. says it is cutting some 1,000 positions worldwide in response to the ongoing economic downturn. The El Segundo-based company says the positions amount to 3% of the company’s worldwide workforce and will reduce its professional and management staff by 8%. Cuts will come from a combination of layoffs, attrition and retirements.
- Goldman Sachs notified roughly 3,200 employees that they have been laid off, part of previously reported plans to slash 10% of the firm’s global work force. The move comes after laying off hundreds of support staff and junior bankers last June. The company had a record 32,569 employees in August and the latest cuts reduce headcount to the lowest since 2006.
- At Merrill Lynch, 10,000 employees could be jettisoned as a result of the merger with Bank of America.
- Bank of America, the second-largest U.S. bank in assets said in June it expected to eliminate about 7,500 jobs over the next two years after the completion of its acquisition of Countrywide Financial Corp, the largest U.S. mortgage lender.
- Barclay announced it plans to cut about 3,000 jobs as it brings Lehman Brothers into its fold. Lehman, which filed for bankruptcy last December, had 26,000 employees.
- Investment bank Morgan Stanley had said last July 31, that it was finished cutting jobs after slashing 4,800 jobs last year. But some analysts expect Morgan could lay off 15% of its work force.
- Even the more stable JPMorgan Chase is looking at cutting at least 10% and maybe as much as 15% of its workforce. It has over 180,000 employees globally, including 25,000 in investment banking.
- Citigroup cut 23,000 jobs in 2008, but is planning another round of 9,100 layoffs, according to people with direct knowledge of the matter.
- Wachovia, said last August it would cut 6,950 jobs, 600 more than it had previously disclosed.
- UBS said at the beginning of October it would cut another 2,000 jobs at its troubled investment bank, on top of 7,000 jobs already cut. The bank will reduce its headcount by more than 10% to under 80,000.
- Credit Suisse said it would cut 500 more jobs, in addition to the more than 1,500 jobs axed since 2007, the majority in investment banking.
- HSBC said it was cutting 1,100 jobs in its investment banking operation, or 4% of its workforce.
- Commerzbank announced its plan to cut 9,000 jobs in the wake of its agreement to purchase Dresdner Bank from Allianz. About 2,500 jobs of the 9,000 cuts will be outside Germany.
- UniCredit, Europe’s fourth-largest bank said it would shed 9,000 posts out of 100,000 in Germany, Austria and its domestic base Italy.
- First American, the largest U.S. title insurer by reported revenue, said it would cut 1,250 jobs in the third quarter last year, bringing the total for the year to about 2,950, or 8% of its workforce. It has cut roughly 6,500 jobs since the first quarter of 2007.
- National City Corp reduced 4,000 jobs, or 14% of its workforce, over three years to save $500 million to $600 million annually by 2011.
- Computer maker Dell, which is nearing the end of nearly 9,000 job cuts, has asked employees to consider taking up to five days of unpaid vacation, and is offering voluntary severance packages and has instituted a global hiring freeze.
- Nissan announced layoffs affecting 2,500 salaried jobs overseas and 1,000 temporary posts in Japan amid plans to cut vehicle productions globally.
- Privately held Chrysler said it was cutting about 5,000 salaried employees, on top of an earlier slash of 1,825 jobs as the result of plant closings.
- Money manager Janus Capital said it would cut 9% of its staff a day after rival AllianceBernstein said it would make unprecedented job cuts.
- Xerox announced job cuts of 5%, or 3,000 positions, due to a “tough business environment.”
- Mining equipment maker Terex said it would lay off hundreds of workers and suspend its share buyback program to preserve cash.
- Starwood Hotels & Resorts Worldwide said it plans to cut an unspecified number of jobs to offset slowing travel demand.
- Computer systems vendor Agilysys cut three senior management positions and is consolidating headquarters in Ohio.
- American Century says is plans to cut 270 jobs, reducing its work force by 17%.
- Merck announced plans to cut 12% of its workforce, citing a need to change its business model in order to survive.
- Fidelity National Financial, which controls one of the largest U.S. title insurers, announced 1,000 job cuts, office closings, a 10% pay cut and a 50% dividend cut, which comes on top of 1,600 job eliminations last April-to-June.
- Biotechnology company Maxygen plans to cut nearly 30% of its workforce and explore strategic options due to the current financial environment.
- Popular Inc., parent of Banco Popular, is cutting 600 positions and more than a quarter of its branches in the United States. [Source for the above: Reuters, with CNBC staff]
- Energizer, the St. Louis-based company, said it expects to shed about 1,500 employees, which should lead to $200 million in pretax yearly savings.
- Exide Technologies said it will be idling its lead-recycling operations in Laureldale and laying off 150 workers, effective no later than March 31.
- Westinghouse Anniston, the contractor responsible for shutting down Anniston’s chemical weapons incinerator, has reduced its workforce by another 50 employees.
- Research in Motion Limited, the maker of BlackBerry smartphones, laid off about 200 people at its U.S. headquarters in Irving, according to a source close to the company who did not want to be named.
- Lightyear Network Solutions laid off more than one dozen employees at its Pikeville company. Officials with Lightyear Network Solutions said they are consolidating offices in Louisville and Pikeville to save money.
- Providence Journal laid off 23 full-time workers Wednesday as part of a cost-cutting effort, including 16 members of the Providence Newspaper Guild and 7 non-union employees.
- Hawker Beechcraft said 240 employees will lose their jobs with the closing of Hawker Beechcraft Services facilities in Little Rock, Ark.; Mesa, Ariz.; and San Antonio, Texas.
- Boeing said it plans to employ 30% fewer executives at its Boeing Defense, Space & Security unit by the end of 2012 compared to 2010 levels.
- CVPH Medical Center has handed pink slips to 17 employees. The layoffs — nine in management and eight hourly staffers — are part of an effort to “help bolster the hospital’s financial position in 2013 and beyond,” a press release said.
- US Cellular will slash in 980 jobs, with 640 in the Chicago area, according to a spokeswoman. The cuts are slightly under 12% of the approximately 8,400 total employees U.S. Cellular had at the end of the third quarter, 2012.
- Momentive Performance Materials -will temporarily lay off about 150 workers at its Sistersville plant.
- Rocketdyne laid off about 100 employees at Pratt & Whitney Rocketdyne, most of whom worked in the San Fernando Valley, California, in response to dwindling government spending on space exploration.
- Brake Parts, the leader of an automotive parts plant in Lincoln County, told state officials there are plans to lay off 75 workers starting late last December and continuing in the first quarter of 2013.
- Vestas Wind Systems is seeking to sell a stake of as much as 20% and said it is reducing headcount by 3,000 to raise the staff cuts by the biggest wind turbine maker to almost a third over two years.
- Husqvarna, the world’s biggest maker of powered garden tools, plans to cut about 600 jobs in a move that will save $33 million a year by 2014.
- Center for Hospice New York plans to temporarily lay off as many as 40 employees this year as it embarks on a major renovation of the inpatient unit at its Cheektowaga campus.
- Bristol-Meyers Squibb is following up its lackluster 2012 third-quarter results with almost 480 layoffs. As Pharmalot reports, the company notified the New Jersey government that it would scale back in Plainsboro, which means the cuts will hit its sales operations.
- OCE North America, Trumbull printer- and scanning-equipment provider, will lay off 135 workers in three Connecticut communities, including East Hartford, according to its notice with the state Labor Department.
- Darden Restaurants, which was among those who had received an Obamacare waiver in the past, is looking to limit workers to 28 hours per week. The Obamacare law requires all full time employees — those who work 30 hours or more per week — to have health insurance, lest the employer pay a fine.
- West Ridge Mine will close down “204 American coal-fired power plants by 2014,″ said in a statement by UtahAmerican Energy. Blame is put on the Obama regime for instituting policies that drastically reduces the market for coal.
- United Blood Services Gulf South region, the non-profit blood service provider for much of south Louisiana and Mississippi, will lay off approximately 10% of its workforce.
The most recently-announced layoffs are:
- Caterpillar Inc. will close its plant in Owatonna, Minn.
- Mount Pleasant’s Albrecht Sentry Foods
- The Target store at Manassas Mall, Va.
- Millennium Academy in Wake Forest, NC
- Target is its Kissimmee, FL location
- The Andover Gift Shop in Andover, MA
- Grand Union Family Markets Closing its stores in Storrs, CT
- Movie Scene closing in Milford, NH
- TE Connectivity closing Greensboro Plant – 620 layoffs expected
- Gomer’s Fried Chicken in South Kansas City
- Kmart in Homer Glen
- Fresh Market on Pine Street in Burlington
- AGC Glass North America to permanently close its Blue Ridge Plant
- The Target store at Platte and Academy in Colorado Springs
- The Roses store on Reynold Road in Winston-Salem, NC
- Bost Harley-Davidson in Tennessee…
- Townsend Booksellers in Oakland
- The Kmart store in Parkway Plaza off University Drive in Durham, NC …
To see even more companies that announced layoffs since last Nov. 6′s election, visit the Daily Job Cuts page.
The above job cuts do not include military contractors. Those layoffs are forthcoming, due to the Obama regime’s slashing of the military budget.
How many of these companies should have announced their layoffs before the election of last Nov. 6th?
H/t Patriot Action Network
~Eowyn
