Free Republic 1st Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $58,647
72%  
Woo hoo!! And we're now over 72%!! Thank you everyone!! God bless.

Keyword: layoff

Brevity: Headers | « Text »
  • Citigroup CEO Jane Fraser gets pay bump to $26 million after a 38% drop in profits

    02/29/2024 10:09:55 AM PST · by george76 · 10 replies
    Yahoo ^ | Feb 20, 2024 | David Hollerith
    Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The board awarded her total compensation of $26 million, ... The $26 million for Fraser was the lowest among CEO rivals at JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley, who received between $29 million and $37 million. Bank of America's Brian Moynihan was the only CEO among this group to experience a compensation decline. ... Fraser had a lot...
  • Snap to Lay off 10% of Global Workforce to ‘Promote In-Person Collaboration’

    02/05/2024 8:53:13 AM PST · by ChicagoConservative27 · 17 replies
    Breitbart ^ | 02/05/2024 | Alana Mastrangelo
    Snap, the maker of the social media platform Snapchat, says it will lay off 10 percent of its global workforce, around 500 employees, to “promote in-person collaboration.” The social media company, which laid off 20 percent of its staff in 2022 and a small number of product employees in November, made its announcement on Monday, amid its shares falling around one percent in morning trading, according to a report by CNBC. “We are reorganizing our team to reduce hierarchy and promote in-person collaboration,” a Snap spokesperson told CNBC. “We are focused on supporting our departing team members.”
  • Report: Paramount Set to Lay Off ‘Hundreds’ Across Nearly All Divisions in Latest Hollywood Bloodbath

    01/22/2024 2:17:52 PM PST · by T.B. Yoits · 41 replies
    Breitbart ^ | 1/22/2024 | David Ng
    Paramount Global — the parent company off CBS, Paramount Pictures, Showtime, and numerous other media properties — is reportedly set to lay off “hundreds” of employees across nearly all of its divisions. The impending cuts represent the latest Hollywood bloodbath following layoffs at other corporations, including Disney, NBCUniversal, Amazon MGM Studios, and Universal Music Group. Hollywood is feeling the squeeze on multiple fronts. Households continue to cut the cord by the millions while the advertising market is still in the doldrums due to poor consumer sentiment tied to President Joe Biden’s economic policies. Meanwhile, consumers are cutting back on discretionary...
  • GM’s Cruise laying off 900 employees, or 24% of its workforce: Read the memo here

    12/15/2023 6:19:49 AM PST · by george76 · 7 replies
    CNBC ^ | DEC 14 2023 | Hayden Field
    The layoffs, which mostly hit commercial operations and related corporate functions, comes one day after the robotaxi subsidiary dismissed nine “key leaders.” The moves are fallout from the company’s response to the Oct. 2 incident in which a pedestrian was dragged 20 feet by a Cruise self-driving car after being hit by another vehicle. Since the incident, the company has suspended all trips on public roads and halted production of a new robotaxi, among other moves. ... General Motors’ Cruise on Thursday announced internally that it will lay off 900 employees, or 24% of its workforce ... The layoffs, which...
  • Self-Driving Disaster: GM’s Cruise Robotaxi Division Announces Layoff of 24% of Workforce

    12/15/2023 11:26:46 AM PST · by ChicagoConservative27 · 15 replies
    Breibart ^ | 12/15/2023 | LUCAS NOLAN
    General Motors’ autonomous vehicle subsidiary, Cruise, has announced the layoff of 24 percent of its workforce as part of a strategic restructuring focused on a single market for its disastrous robotaxis. UPI reports that Cruise, the robotaxi startup owned by General Motors, has revealed significant staff reductions in a recent blog post. Thursday’s announcement details the layoff of 24 percent of its full-time employees. This decision, according to the company, is due to a strategic shift to simplify and concentrate its efforts. The focus now is to launch an exceptional service in one city initially, using the Bolt platform as...
  • US Steel announces plans to lay off hundreds at southern Illinois mill

    11/29/2023 3:16:58 PM PST · by ChicagoConservative27 · 27 replies
    Fox business ^ | 11/29/2023 | Pilar Arias
    U.S. Steel issued layoff warnings to 1,000 employees of its Granite City, Illinois, mill this week, saying they expect to fire 60% of them due to indefinite idling of iron and steelmaking operations at the facility. The warnings rocked the local community, which will be severely impacted by the move. "You’ve got these small businesses that depend on that income to come in, and these businesses want these people to come in and spend their money," Edith Arnold, a woman whose relative has worked at the mill for more than 30 years, told local KTVI. "You shut them down, what...
  • Citigroup employees expect management reshuffle, layoffs on Monday -sources

    11/17/2023 2:38:19 PM PST · by george76 · 8 replies
    Reuters ^ | November 17, 2023 | Saeed Azhar, Svea Herbst-Bayliss
    Citigroup (C.N) employees expect announcements about management changes and layoffs on Monday in the next phase of the bank’s sweeping reorganization ... Employees are awaiting more details about the scale of layoffs at the bank, which employs 240,000 people worldwide. .... Last month, Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. In the two top layers of leadership, Citi reduced 15% of functional roles and eliminated 60 committees, ... The third-largest U.S. lender will also eliminate co-heads of divisions and regional roles, cut 50% of internal financial management reporting...
  • Geico to lay off 6 percent of workforce nationwide, internal letter confirms

    10/20/2023 6:59:59 PM PDT · by ChicagoConservative27 · 58 replies
    The Hill ^ | 10/20/2023 | ADAM GORSKI
    BUFFALO, N.Y. (WIVB) – Geico is cutting its total workforce by 6%, laying off roughly 2,000 of its employees as of Thursday, according to a letter from the auto insurance company’s CEO. “This very difficult decision was not taken lightly. We recognize we’re saying goodbye to beloved colleagues and friends, and as a leadership team we are committed to supporting those affected in the days ahead,” CEO Todd Combs wrote in the letter, which was obtained by Nexstar’s WIVB.
  • Chipmaker Qualcomm to lay off over 1200 California workers

    10/12/2023 3:50:02 PM PDT · by dynachrome · 14 replies
    cnn business ^ | 10-12-23 | Jennifer Korn
    Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce. The San Diego, California-based company will be laying off about 1258 roles in California, according to a filing with the California Employment Development Department. Impacted employees include those based out of San Diego and Santa Clara in multiple roles, from engineers to legal counsel to human resources, with job reductions coming around December 13th. The layoff news comes about a month after the company announced a deal with Apple to provide 5G chips through at least 2026. Qualcomm is also the chip supplier for the newly announced...
  • UAW strike latest: GM sends 2,000 workers home in Kansas

    09/20/2023 5:27:50 PM PDT · by ChicagoConservative27 · 29 replies
    Npr ^ | 09/20/2023 | Camila Domonoske
    General Motors has temporarily laid off most of the approximately 2,000 unionized workers at its Fairfax assembly plant in Kansas as a result of the ongoing UAW strikes. The move, which GM had warned was coming last week, is the largest ripple effect so far from the United Auto Workers' historic strike against all three Detroit automakers as the union demands a new contract that offers substantially better wages and benefits. But automakers have warned a strike threatens to make them uncompetitive against rivals, especially as the companies spend billions of dollars to transition to electric vehicles.
  • Monday Night Football Hit by ESPN Layoffs as Steve Young, Suzy Kolber Get Walking Papers

    06/30/2023 3:22:58 PM PDT · by dynachrome · 28 replies
    Breitbart ^ | 6-30-23 | DYLAN GWINN
    ESPN Monday Night Football analysts Suzy Kolber and Steve Young are among the more than 20 on-air hosts who have been laid off by ESPN in the last 24 hours. Kolber announced that she had been laid off in a Twitter post, giving thanks for her 27 years with the company. Today I join the many hard-working colleagues who have been laid off. Heartbreaking-but 27 years at ESPN was a good run. So grateful for a 38 yr career! Longevity for a woman in this business is something I’m especially proud of. Next step- a project that gives back. ❤️...
  • Meta is about to start its next round of layoffs

    04/19/2023 3:48:59 AM PDT · by george76 · 27 replies
    Vox ^ | Apr 18, 2023, | Shirin Ghaffary
    The company plans to lay off employees on Wednesday ... In an internal memo posted to a Meta employee message board on Tuesday evening and viewed by Vox, the company told employees that the layoffs will start on Wednesday and will impact a wide range of technical teams including those working on Facebook, Instagram, Reality Labs, and WhatsApp. A Meta spokesperson confirmed the memo was sent to employees but declined to comment further. The cuts could be in the range of 4,000 jobs ... Meta employees in North America will be notified by email between 4 am to 5 am...
  • Facebook's Parent Company, Meta paid people to literally do nothing

    04/16/2023 5:04:12 PM PDT · by SeekAndFind · 27 replies
    Hotair ^ | 04/16/2023 | Jazz Shaw
    As you’ve likely already heard, Facebook’s parent company Meta is laying off large numbers of people in an effort to remain financially viable. This stressful situation has been exacerbated by the absence of much of its management who are working remotely, some from other countries. How could things have possibly gone so far downhill so quickly? Do you suppose there might have been something less than ideal about their business practices and how they managed their workforce? Perhaps that idea will resonate a bit more after you hear from Madelyn Machado, who was a recruiter for Meta earning an eye-popping...
  • McDonald’s temporarily shuts US offices, prepares layoff notices: report

    04/02/2023 6:50:35 PM PDT · by george76 · 73 replies
    New York Post ^ | April 2, 2023
    McDonald’s Corp is temporarily closing its US offices this week as it prepares to inform corporate employees about layoffs undertaken by the burger giant as part of a broader company restructuring, ... McDonald’s said in an internal email last week to US employees and some international staff that they should work from home from Monday through Wednesday so it can deliver staffing decisions virtually, ... During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” the Chicago-based fast-food chain said
  • Worker Who Was Laid-Off After Completing A Major Project Uses His Final Days To Get Pay Back Against Company

    03/23/2023 9:07:26 AM PDT · by where's_the_Outrage? · 74 replies
    Your Tango ^ | Mar 22, 2023 | Megan Quinn
    of his hard work benefit the company in any way. In an ultimate form of revenge, he was sure to make them aware of the mistake they made by firing him, and he is not alone. He was fired after working on a major project for the company. The laid-off worker used his final days on the job to delete all of the work he had completed for the company so that they would have to start from scratch. Getting laid off from a job is nothing out of the ordinary. In fact, 40% of Americans have been fired from...
  • Telecom company Ericsson to lay off 8,500 workers

    02/24/2023 2:08:44 PM PST · by ChicagoConservative27 · 1 replies
    The Hill ^ | 02/24/2023 | RASHAD SIMMONS
    Telecom equipment maker Ericsson plans to lay off 8,500 of its employees globally to cut costs, according to a memo sent to employees from the company’s CEO Börje Ekholm. “The way headcount reductions will be managed will differ depending on local country practice,” Ekholm wrote. According to Reuters, the layoffs are predicted to affect North America and would be the largest to hit the telecom industry. The company announced Monday that about 1,400 jobs in Sweden will be slashed as well. “In several countries, the headcount reductions have already been communicated this week,” he said. Ericsson is the latest telecom...
  • Nolte: Woke Hollywood Layoffs Continue with Showtime Cutting 10% of Staff

    02/14/2023 11:55:21 AM PST · by dynachrome · 20 replies
    Breitbart ^ | 2-14-23 | JOHN NOLTE
    On Monday, Showtime wiped out ten percent of its staff with a brutal round of layoffs, reports the far-left Deadline. More… Monday started with a shock and awe campaign at Showtime as the exits of a slew of top executives were announced in short succession. By the end of the day, about 120 people in total had lost their jobs in the layoffs, sources confirm to Deadline. That represents more than 10% of the company’s workforce. Leading the departures are Co-Presidents of Entertainment Gary Levine (who is segueing to an advisory role) and Jana Winograde as well EVP Nonfiction Vinnie...
  • Declining student enrollment may force some Washington schools to close, lay off staff

    02/13/2023 4:01:11 PM PST · by Twotone · 18 replies
    The Blaze ^ | February 13, 2023 | Candace Hathaway
    After a significant drop in student enrollment, officials from Washington's largest school district are floating the idea of shuttering some schools and cutting staff, the Seattle Times reported. School officials from Seattle Public Schools discussed the potential need to "consolidate into a system of well-resourced schools" because of significant budget shortfalls related to decreased student enrollment. The district's senior staff discussed how consolidating the district's 106 schools may provide students with improved access to specialized programs, social workers, specialists, counselors, and nurses. The district's interim deputy superintendent, Fred Podesta, argued that "consolidating into larger schools that have the resources they...
  • Exclusive: Yahoo to lay off more than 20% of staff as it shrinks ad biz

    02/09/2023 4:27:59 PM PST · by george76 · 32 replies
    Axios ^ | 2/9/2023 | Sara Fischer
    Yahoo plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech unit, executives told Axios. The cuts will impact more than 50% of Yahoo's ad tech employees — more than 1,600 people. Why it matters: The changes will end Yahoo’s years-long effort to compete directly with Google and Meta for digital advertising dominance. Driving the news: In an interview, Yahoo CEO Jim Lanzone stressed that the layoffs are not attributable to financial challenges, but rather, strategic changes to the company's Yahoo for Business advertising unit, which is not profitable....
  • A Google employee of 11 years says he and his wife stared at each other in 'disbelief' when they realized they'd both been laid off by the company

    01/26/2023 8:24:33 AM PST · by Enterprise · 189 replies
    https://www.yahoo.com ^ | January 26, 2023 | Sawdah Bhaimiya
    A Google employee said he and his wife were both laid off by the tech giant in Friday's mass cull. Ashish Kalsi wrote on LinkedIn that they stared at each other in "disbelief" that morning as their daughter slept.Kalsi said he's on an H-1B visa and has a 60-day "countdown" to find a new role or leave the US. A Google engineer said he and his wife stared at each other in "disbelief" upon learning on Friday they'd both been laid off by the company. Ashish Kalsi, an associate principal of global engagement on Google's trust and safety team, wrote...