Free Republic 3rd Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $55,949
63%  
Woo hoo!! And we're now over 63%!! Thank you all very much!! God bless.

Keyword: layoffs

Brevity: Headers | « Text »
  • Coal towns hit by layoffs to get job grants from US gov't

    08/24/2016 7:52:52 PM PDT · by Olog-hai · 37 replies
    Associated Press ^ | Aug 24, 2016 5:26 PM EDT | John Raby
    Communities in nine U.S. states that have been hard-hit by coal layoffs are being promised more than 3,000 jobs in several industries through a multimillion-dollar federal grant. Officials for the Appalachian Regional Commission and other agencies announced the 29 projects totaling nearly $39 million Wednesday at a news conference in Huntington, West Virginia. The investments are expected to create or retain more than 3,400 jobs in agriculture, health care, manufacturing, technology and other industries. The projects are intended to help communities in Texas and in eight Appalachian states: Alabama, Kentucky, Mississippi, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia. …
  • Early data show $15 minimum hurting Seattle's poor

    08/21/2016 3:03:54 PM PDT · by Olog-hai · 33 replies
    Washington Examiner ^ | 8/13/16 12:01 AM | Sean Higgins
    As recently as last year, the Democratic Party’s leaders thought the idea of a $15 federal minimum wage was unrealistic and even pushed back against it. That ended in July when the official party platform, bowing to pressure from organized labor and Sen. Bernie Sanders and his supporters, adopted a call for a $15 federal minimum, more than double the current rate of $7.25 an hour. […] When Seattle increased its minimum to $15 in 2014, a boost of nearly $6 an hour, it also commissioned a study of the increase’s effect by the University of Washington. A report released...
  • Fed Survey: Obamacare Causing Companies to Cut Jobs

    08/17/2016 1:56:24 PM PDT · by Brilliant · 15 replies
    WSJ ^ | Aug 16, 2016 | Vipal Monga
    Many companies are cutting jobs in response to rising health care costs spurred by the Affordable Care Act, according to a new survey by the Federal Reserve Bank of New York. Roughly one-fifth of service sector and manufacturing company executives said they are reducing the number of workers in response to provisions in the healthcare law... The New York fed surveyed about 100 executives in the manufacturing sector and roughly 150 executives in the services sector located in New York State, Northern New Jersey and Fairfield County, Connecticut... The results add to a bevy of bad news related to the...
  • Target cuts outlook as it sees fewer customers in stores

    08/17/2016 1:38:05 PM PDT · by Morgana · 64 replies
    usnews.com ^ | August 17, 2016 | ANNE D'INNOCENZIO,
    NEW YORK (AP) — Target Corp. cut its profit forecast and a key sales outlook Wednesday as it saw fewer customers in its stores and acknowledged it didn't push the second part of its "Expect More, Pay Less" slogan. The Minneapolis-based discounter's second-quarter net income fell nearly 10 percent, though that was better than what most had expected. Sales at stores open at least a year fell 1.1 percent, reversing seven straight quarters of gains. Its main competitor, Wal-Mart Stores Inc., reports results Thursday. Target's shares fell $4.74, or 6 percent, to $70.74 in afternoon trading.
  • Cisco Systems to lay off about 14,000 employees: Report

    08/17/2016 5:01:58 AM PDT · by mykroar · 64 replies
    CNBC.com ^ | 8/17/2016 | Reuters
    Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company. San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization. Apart from Cisco, two other big software companies, Microsoft Corp and HP Inc, have also announced job cuts this year.Microsoft said in July that it would lay off about 2,850 jobs over the next 12 months, taking its total...
  • Ruby Tuesday to close 95 restaurants

    08/12/2016 4:24:57 PM PDT · by Extremely Extreme Extremist · 85 replies
    THE INDY CHANNEL ^ | 12 AUGUST 2016 | ERIC PFAHLER
    Ruby Tuesday plans to close 95 restaurants throughout the country, the company announced. The locations of the restaurants to be closed have not been released, but the restaurants will be shutting down quickly. According to the company's press release, the under-performing locations will stop operations by September. Ruby Tuesday's had 724 restaurants as of May 31, and 646 of those were company-operated.
  • Macy's plans to close 100 stores, boost online investment

    08/11/2016 5:53:41 AM PDT · by Olog-hai · 87 replies
    Associated Press ^ | August 11, 2016
    Macy’s says it plans to close about 100 stores next year as the department store operator aims to become more nimble in a competitive market. That represents close to 14 percent of its store base. […] The nation’s largest department store chain says that it earned $11 million, or 3˘ per share, in the quarter ended July 30. That compares with $217 million, or 64˘ per share, in the year-ago period. …
  • Chicago schools lays off 1,000, about half are teachers

    08/05/2016 6:21:09 PM PDT · by Olog-hai · 19 replies
    Associated Press ^ | Aug 5, 2016 5:05 PM EDT
    Chicago Public Schools will lay off about 1,000 employees, nearly half of whom are teachers. Officials with the nation’s third-largest school district characterized the layoffs Friday as part of the “normal” yearly staff movement between schools and that they expect most people will be hired for other jobs. CPS has about 1,000 teaching vacancies. …
  • Here's what the real unemployment rate looks like

    08/05/2016 11:44:06 AM PDT · by BenLurkin · 12 replies
    cnbc ^ | 08/05/2016
    The U.S. unemployment rate remained at 4.9 percent in July, the Labor Department said Friday. But relying on that one number as an indicator of the job market is an oversimplification of the complicated world of employment. Each month on jobs Friday, the Labor Department's Bureau of Labor Statistics puts out a slew of employment-related data, each of which tells its own story about the jobs situation. Most economists look past the official unemployment rate — also known as the "U-3" number — to other metrics that provide other views of the state of jobs. One of those figures is...
  • Raising The Minimum Wage In Seattle Had Utterly Predictable Results–But Liberals Probably Don't Care

    07/31/2016 4:04:56 PM PDT · by RoosterRedux · 42 replies
    townhall.com ^ | Matt Vespa
    Raise the minimum wage in Seattle they said. It will help workers they said. Well, the city did increase the minimum wage from the previous rate of $9.47 to $15, which is to be phased in by 2018. It’s now at $11, and lo and behold it has hurt workers. A study found that workers would’ve already seen an increase in wages without the hike because of the increased economic activity and more would’ve been employed. Instead, hours were cut, fewer people worked, and all of this was [predictable]: The average hourly wage for workers affected by the increase jumped...
  • New York Times reports another loss as ad sales decline

    07/28/2016 8:03:35 AM PDT · by mandaladon · 42 replies
    Yahoo News ^ | 28 Jul 2016
    July 28 (Reuters) - The New York Times Co reported its second quarterly loss in a row as print and digital advertising sales declined. Print ad revenue fell 14.1 percent, the eighth straight quarterly decline. Digital ad revenue, which accounts for about a third of total ad revenue, dropped 6.8 percent, the second straight quarterly decline. The Times posted a net loss of $211,000 attributable to shareholders for the second quarter ended June 26, compared with a profit of $16.4 million the year-earlier quarter. On an adjusted basis, the company earned 11 cents per share from continuing operations, matching the...
  • 18 states see significant job gains, but unemployment rises

    07/22/2016 8:13:15 AM PDT · by BenLurkin · 5 replies
    WaPo ^ | 07/22/2016
    n Colorado, the rate jumped 0.4 point from May to a still-low 3.7 percent as more of its population began looking for work without being hired, a positive for the economy as it suggests greater optimism that these people will find jobs. A similar trend played out in five other states: Nevada and Oregon each saw a 0.3 percent increase, while rates went up 0.2 points in California, Maine and South Dakota. Those trends correspond with the national report that saw the unemployment rate rise from 4.7 percent in May to 4.9 percent as more workers started searching for jobs.
  • Biggest private coal producer warns of cutting 80 percent of workforce, head blames Obama policies

    07/02/2016 12:27:15 PM PDT · by PROCON · 21 replies
    The Wall Street Journal ^ | July 2, 2016 | The Wall Street Journal
    Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices. In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets. The company said it anticipates “massive workforce reductions in September.” The law requires a 60-day waiting period before large layoffs occur.
  • Wendy’s Eyeing Self-Service Kiosks In Effort To Cut Labor Costs

    06/18/2016 7:04:43 AM PDT · by BenLurkin · 33 replies
    The fast-food chain has plans to replace some workers with the touch-screen technology in an effort to save on labor costs. By the end of the year, thousands of Wendy’s locations across the country will be offered the kiosks, while franchise-operated stores will have the option of whether to use the technology. ... This year, minimum-wage rose to $10 an hour in California and will gradually rise to $15. Wendy’s president and chief financial officer, told Investor’s Business Daily that labor costs have gone to five to six percent in the past year. ... On social media, there were mixed...
  • Wife just got laid off, retirement, age 59 1/2 relevant?

    06/18/2016 7:08:00 AM PDT · by George from New England · 71 replies
    Wife worked full-time at an organized church office for 9 1/2 years now. Worked 35 hours a week and received insurance and health care benefits, etc. Fiscal year cycles at June 30. She was the elimination of her position this past week and given the option to continue at 19 hours a week, part time. She has said no, she needs a job with benefits. They surprised her yesterday, Friday, with her last day worked. Their letter says she is paid until end of June and 4 weeks into July for sick days and left over vacation time. Now her...
  • Bank Of America Set To Fire 8,000 As Banker Layoffs Accelerate

    06/15/2016 11:02:03 AM PDT · by dennisw · 19 replies
    zerohedge ^ | Jun 15, 2016 | Tyler Durden
    A few months ago we pointed out that mass layoffs were coming for bankers due to declining revenues and more difficult market conditions, and now we're seeing the first major wave of that come to fruition. Bank of America has announced that it will fire as many as 8,000 employees within its consumer division the FT reports.The core reason given for the headcount reduction in this instance is that digital banking is picking up the pace, and has reduced the need for "back office staff" and bank tellers. This is a trend that BofA highlighted in its In its Q1...
  • Nearly Half of D.C. Employers Said They Have Laid Off Workers, Reduced Hours Due to Minimum Wage…

    06/07/2016 9:11:27 AM PDT · by Olog-hai · 14 replies
    Washington Free Beacon ^ | June 7, 2016 5:00 am | Ali Meyer
    Nearly half of Washington, D.C. employers said they have either laid off employees or reduced the hours of employees to adapt to the District of Columbia’s minimum wage hikes since 2014, according to a report from the Employment Policies Institute. The minimum wage in the District of Columbia has increased from a $8.25 hourly rate in 2014 to the current rate of $11.50 per hour. Mayor Muriel Bowser advocated a $15 minimum wage in her State of the District address earlier this year. “In recent months, the City Council in D.C. has considered enacting a number of new labor mandates,...
  • Ex-CEO of McDonald’s: $15 Minimum Wage ‘To Cause Job Loss … Like You’re Not Going to Believe’

    05/25/2016 2:58:54 PM PDT · by 2ndDivisionVet · 46 replies
    Breitbart's Big Government ^ | May 24, 2016 | Jerome Hudson
    Former McDonald’s CEO Ed Rensi appeared on Fox Business Network and warned progressive groups against $15 per hour minimum-wage hikes. “I was at the National Restaurant Show yesterday and if you look at the robotic devices that are coming into the restaurant industry — it’s cheaper to buy a $35,000 robotic arm than it is to hire an employee who’s inefficient [while] making $15 an hour bagging French fries,” Rensi said Tuesday. “It’s nonsense and it’s very destructive and it’s inflationary and it’s going to cause a job loss across this country like you’re not going to believe,” Rensi added....
  • New York Times Co. to Offer Buyouts to Employees

    05/25/2016 7:20:51 AM PDT · by McGruff · 38 replies
    The NY Times ^ | MAY 25, 2016 | KATIE ROGERS
    The New York Times will offer voluntary buyout packages to members of the newsroom and several business departments at the end of the month, the company announced on Wednesday. In a memo, members of the executive committee, including Arthur Sulzberger Jr., the newspaper’s publisher, and Dean Baquet, its executive editor, said that the buyouts were a part of the company’s larger mandate to build a more digitally focused newsroom, and to reach its stated goal of doubling digital revenue by the year 2020. “These plans will no doubt lead to new initiatives and investments,” the memo said. “At the same...
  • Wendy’s moves to self-service ordering as minimum wage rises

    05/12/2016 12:07:32 PM PDT · by Trump20162020 · 150 replies
    HotAir ^ | May 12, 2016 | John Sexton
    Investor’s Business Daily reported Wednesday that fast food chain Wendy’s will be expanding the use of self-service kiosks in response to the rising minimum wage: Wendy’s said that self-service ordering kiosks will be made available across its 6,000-plus restaurants in the second half of the year as minimum wage hikes and a tight labor market push up wages. It will be up to franchisees whether to deploy the labor-saving technology, but Wendy’s President Todd Penegor did note that some franchise locations have been raising prices to offset wage hikes Other fast food chains are also experimenting with self-service kiosks. McDonalds...
  • President Obama’s Economic Legacy

    05/10/2016 9:03:43 AM PDT · by Academiadotorg · 12 replies
    Accuracy in Academia ^ | May 10, 2016 | Roger Aronoff
    As President Obama's second term nears its end he has begun a media tour emphasizing what he claims are the positive aspects of his policies. The complicit media, of course, have long worked to inflate positive impressions of Obama’s legacy, and this latest set of interviews is no different. "In two recent interviews, with The New York Times Magazine on his economic legacy and with The Atlantic on his foreign policy legacy, Mr. Obama expressed a common sentiment: He had achieved big things and avoided even bigger mistakes, and yet most people just shrug," wrote Mark Landler for The New...
  • 50,000 Laid Off In Saudi Arabia As Oil Crisis Bites Deeper

    05/09/2016 10:01:22 AM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 09-05-2016 | Savages
    Saudi construction giant Binladin group has laid off tens of thousands of workers, leading to rare protests, as workers torch seven buses demanding compensation as low oil prices begin to bite in earnest. The numbers of layoffs range from 50,000 to 77,000, many of who say they were not paid for several months. Binladin group, which last year had all of its contracts frozen after a crane fell over the Grand Mosque in Mecca, killing 107, denied that it owed its workers any compensation. The company said the layoffs were a “routine” adjustment to a slowdown in construction activity in...
  • The Next Employment Crisis Is Here: Job Cuts At U.S. Companies Jump 35 Percent In April

    05/08/2016 5:32:39 PM PDT · by SeekAndFind · 27 replies
    TEC ^ | 05/08/2016 | Michael Snyder
    Should we be alarmed that the number of job cuts announced by large U.S. companies was 35 percent higher in April than it was in March? This is definitely a case where the trend is not our friend. According to Challenger, Gray & Christmas, U.S. firms announced 65,141 job cuts during April, which represented a massive 35 percent increase over the previous month. And so far this year overall, job cut announcements are running 24 percent higher than for the exact same period in 2015. Meanwhile, on Thursday we learned that initial claims for unemployment benefits shot up dramatically...
  • Subway Is In Big Trouble

    05/06/2016 6:31:27 AM PDT · by JoeProBono · 128 replies
    breaking911 ^ | May 3, 2016 | T. Grant Benson
    Subway Revenue Drops as It Closes Hundreds of U.S. Restaurants Subway Restaurants revenue fell in 2015 for the second straight year, a sign one of the fast-food industry’s stalwarts is losing ground to newer chains. Revenue dropped 4.3 percent to $1.11 billion last year, according to the company’s Franchise Disclosure Document, which was filed with the Minnesota Department of Commerce last week. Subway owner Doctor’s Associates Inc. also is slowing its pace of new restaurant openings and shuttering hundreds of underperforming locations. Fast-casual chains such as Panera Bread Co. have been taking share from Subway restaurants in the U.S., bringing...
  • Aeropostale: One of the hottest teen brands from a decade ago just filed for bankruptcy

    05/04/2016 9:12:39 AM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 05/04/2016 | Mallory Schlossberg
    Aeropostale used to be one of the most popular teen retailers. Cheaper than Abercrombie & Fitch, and less bohemian than American Eagle, the brand was the go-to for teens who still wanted to fit in with the trends. But those days are gone. The retailer has filed for bankruptcy protection, though it says it will be out of debt in six months. Last June, Crain's New York reported that the retailer lost 95% of its value in just five years. The brand has plans to close 113 stores in the US and all 41 stores in Canada. According to Reuters,...
  • What MakerBot exit means for N.Y.C. and the 3D business

    05/03/2016 6:32:31 PM PDT · by CutePuppy · 10 replies
    New York Business Journal ^ | 2016 April 27 | Teresa Novellino
    It was a double whammy for Brooklyn and New York City manufacturing this week with news that 3D printer company MakerBot Industries would be laying off local workers as it shifts its production work, although not its headquarters, to China. It is doing so through St. Petersburg, Florida-based Jabil Circuit (NYSE: JBL), one of the largest contract manufacturers in the world, which has facilities in China. The reasons behind this decision are myriad. Chief among them are the competitive headwinds in the 3D consumer printer business itself, and the high cost of doing business in New York City, ..... <...
  • Sports Authority Files for Bankruptcy: 450-Store Closure Could Leave 14,500 People Jobless

    05/02/2016 8:49:41 PM PDT · by Hojczyk · 62 replies
    Breitbart ^ | May 2,2016 | Jerome Hudson
    Outdoor apparel giant Sports Authority has filed for Chapter 11 bankruptcy protection and the retail chain could close all or most of its 450 stores nationwide as it struggles to pay off a reported $1 billion debt. Sports Authority is “pursuing a sale of some or all of the business,” a company statement said. “We have received initial expressions of interest from a number of potential buyers, and we are optimistic about the results of the sale process.” Founded in 1928, the athletic apparel retailer was once the largest sporting goods chain in America. In the years after its 2006...
  • Unemployment rises… among Bernie Sanders’ campaign staffers [Sanders Campaign shedding workers]

    04/28/2016 4:27:27 PM PDT · by SeekAndFind · 12 replies
    Hotair ^ | 04/28/2016 | Jazz Shaw
    The economy may be experiencing a steady, if tepid recovery, but there are still layoffs taking place. I don’t just mean the ones at Lockheed Martin here, but rather inside the campaign organization of Bernie Sanders. With most of the states having already voted, Sanders’ team is shedding workers this week and they number in the hundreds. (CNN) Bernie Sanders’ campaign is laying off more than 200 workers, campaign manager Jeff Weaver said Wednesday.The campaign is downsizing from its current 550-member team to between 325 to 350 workers, said Weaver, who added that at one point the Sanders’ staff...
  • 40 Layoffs As Glenn Beck’s ‘Blaze’ Empire Continues Its Decline and Fall

    04/28/2016 1:12:44 PM PDT · by austinaero · 181 replies
    The Daily Beast ^ | 04/28/2016 | Lloyd Grove
    The axe fell once again on Glenn Beck’s crumbling media empire Thursday as employees in the New York and Washington offices of The Blaze, Beck’s multi-media online operation, along with business staffers in Los Angeles and the documentary unit in Columbus, Ohio, were told their jobs are on the chopping block, according to multiple sources who spoke The Daily Beast on condition of anonymity.
  • In 1 Out Of Every 5 American Families, Nobody Has A Job

    04/27/2016 6:20:35 PM PDT · by SeekAndFind · 24 replies
    TEC ^ | 04/27/2016 | Michael Snyder
    If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last week, I discussed the fact that the Federal Reserve has found that 47 percent of all Americans would not be able to come up with $400 for an unexpected visit to the emergency room without borrowing it or selling something. But Barack Obama and his minions never bring...
  • Sears to close 78 stores this summer

    04/21/2016 4:07:42 PM PDT · by Olog-hai · 65 replies
    Associated Press ^ | Apr 21, 2016 7:06 PM EDT | Anne D’Innocenzio
    Sears Holdings Corp. will close another 78 stores — 68 Kmart units, and 10 Sears stores — as it looks to restore profitability. That accounts for about 5 percent of its store base, which is nearly 1,700 stores. The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a “challenging” holiday season. The move announced Thursday is expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday. All...
  • SunEdison files for Chapter 11 bankruptcy protection

    04/21/2016 7:39:10 AM PDT · by Olog-hai · 17 replies
    Reuters ^ | Thu Apr 21, 2016 10:04am EDT | Arathy S. Nair
    U.S. solar energy company SunEdison Inc. filed for Chapter 11 bankruptcy protection on Thursday, becoming one of the largest non-financial companies to do so in the past 10 years. Once the fastest-growing U.S. renewable energy developer, SunEdison embarked on an aggressive acquisition strategy that left it struggling with $12 billion in debt. In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30. Although solar project developers such as SunEdison continue to benefit from robust demand, their shares have been hit by investor concerns that demand could fall in...
  • Donald Trump rails against Carrier during rally at Indiana State Fairgrounds (Pence, Christie)

    04/21/2016 7:40:14 AM PDT · by GilGil · 107 replies
    Fox 59 News ^ | 4/20/2106 | Kylee Wierks
    “Governor Pence was pleased to welcome Mr. Trump back to Indiana and hear firsthand his plans for the country. The Governor was also grateful for the opportunity to describe Indiana's economic success and expressed his desire to have a partner in the White House who will help advance pro-growth economic policies, reduce burdensome regulation and curb the size and scope of government. With more than 130,000 new private sector jobs created since he took office, Governor Pence believes addressing these issues is critical in order for Indiana to continue to be a great place to live, work and raise a...
  • Picture: Hardee’s Restaurant Installs “Self Order Stations”

    04/21/2016 6:16:47 AM PDT · by xzins · 159 replies
    Young Conservatives ^ | 20 Apr 16 | Andrew Mark Miller
    A little while back we told you about how the CEO of Hardees/Carl’s Jr. was thinking about replacing employees with machines thanks to the ridiculous minimum wage hike to $15.Well, it appears he has done it.It was only a matter of time before this started to happen and you can expect to see more of this in the future.
  • UC Berkeley greets $15 minimum wage with job cuts

    04/20/2016 7:57:35 AM PDT · by SeekAndFind · 18 replies
    Hotair ^ | 04/20/2016 | Jazz Shaw
    The ripples from California’s recent passage of a $15 per hour minimum wage continue to spread across the employment pond. We’ve already seen how it will hit the food service and hotel industries, but one of the most ironic examples of the law of unintended but perfectly predictable consequences may wind up coming from the University of California at Berkeley. With a hat tip to Legal Insurrection, we find that the traditional hotbed for Social Justice Warrior protests – including the Fight for 15 crowd – is going to be feeling the pinch in short order. And it won’t...
  • Intel Lays Off 12,000 People After Lobbying For More Foreign Workers

    04/19/2016 5:27:01 PM PDT · by markomalley · 33 replies
    Daily Caller ^ | 4/19/16 | Blake Neff
    One of the top users of foreign workers imported via the H-1B visa program announced Tuesday it’s laying off about ten percent of its global workforce.Tech giant Intel is laying off some 12,000 workers, although it’s one of the country’s 15 largest users of H-1Bs, which are temporary visas that allow companies to hire foreign workers for American tech jobs. The big-time layoffs come even as the company has called for hikes in the number of foreign workers it is able to hire using H-1B visas.The chip-making giant said the mass firings are part of a “restructuring initiative” that will further its shift away from the PC...
  • Intel to slash 12,000 jobs and take a $1.2 billion charge, stock drops

    04/19/2016 2:19:45 PM PDT · by bobsunshine · 34 replies
    Business Insider ^ | April 19, 2016 | Matt Rosoff
    Intel plans to cut 12,000 jobs, or 11% of its workforce. It will take a $1.2 billion charge as a result. Trading was halted around the release, then the stock immediately dropped when trading resumed. It's down about 3%. But Intel beat on earnings and revenue. Here are the reported numbers for Q1 2016: • EPS (non-GAAP): $0.54 vs. $0.49 expected. That's up 2% from last year. • Revenue: $13.80 billion vs. $13.84 billion expected. But that number includes $99 million from a deferred revenue write-down — without that, revenue would've come in at $13.70 billion. That's still a 7%...
  • Morgan Stanley begins layoffs in credit division

    04/19/2016 2:58:32 PM PDT · by SeekAndFind · 4 replies
    Yahoo Finance Via Reuters ^ | 04/19/2016 | Olivia Oran and Richard Leong
    Morgan Stanley this week cut staff covering short-term credit and regional broker-dealers, after a quarter in which the bank posted a 42 percent drop in bond trading, several sources told Reuters. The sources blamed the shakeup at the No. 6 U.S. bank by assets on tougher capital rules, mounting competition from faster and cheaper trading on electronic systems and expectations that the Federal Reserve will raise U.S. interest rates next week for the first time in nearly a decade. The decision to downsize followed one of Morgan Stanley's slowest quarters for bond trading since the global credit crunch. The bank...
  • UC Berkeley Forced to Cut 500 Jobs After $15 Minimum Wage Hike

    04/19/2016 2:05:42 PM PDT · by grundle · 52 replies
    townhall.com ^ | April 18, 2016 | Justin Holcomb
    The $15 minimum wage hike in California has sent financially troubled UC Berkeley into decision making mode, and "the people who clean buildings, who work in food services or health clinics,” says Todd Stenhouse, will be the ones without a job. Stenhouse, a spokesman for the American Federation of StateChancellor, also said “There’s a very clear need for those front-line services. But the question is whether there really is a need to hemorrhage resources on executives.” Nicholas Dirks sent a memo to employees Monday informing them of the job reductions and said they will amount to “a modest reduction of...
  • Sport Chalet closing all of its stores

    04/16/2016 8:16:14 PM PDT · by chrisinoc · 66 replies
    OC Register ^ | 4/16/2016 | LILY LEUNG and LOU PONSI
    Sport Chalet announced on Saturday that it is closing all of its stores and has stopped selling goods online. "While our online store is no longer available, all Sport Chalet stores will remain open for several weeks, offering customers the opportunity to use their remaining rewards and gift cards, and to take advantage of great sales," the chain says on its website. Michelle De Leon, a department head at the Sport Chalet in Lake Forest, said employees found out about the store closure through their general managers on Thursday.
  • Trump touts terrific tariff to fix manufacturing job loss in New York

    04/11/2016 5:10:50 PM PDT · by 2ndDivisionVet · 37 replies
    The Washington Examiner ^ | April 10, 2016 | Kyle Feldscher
    Donald Trump played up his plans to tax companies that move jobs out of the United States as he tried to appeal to blue collar workers in a New York rally Sunday. Speaking for about an hour Sunday in Rochester, N.Y., Trump recited statistics about the area's loss of manufacturing jobs and economic hardship in recent years. He reiterated his desire to tax goods sold by companies once based in the United States that moved away to find cheaper labor. The plan has been widely panned by economic experts. But the Rochester crowd ate it up. "I'm the only one...
  • Fiat Chrysler to lay off 1,300 workers

    04/06/2016 12:18:04 PM PDT · by Olog-hai · 24 replies
    Associated Press ^ | Apr 6, 2016 2:57 PM EDT | Tom Krisher
    Tumbling sales of Fiat Chrysler’s main midsize car have driven the company to indefinitely lay off 1,300 employees at a Detroit-area factory. Workers on the second shift at Fiat Chrysler’s assembly plant in Sterling Heights, Michigan, will be furloughed starting July 5 as the slow-selling Chrysler 200 has started to stack up on dealer lots. Sales of the cars were down 61 percent through March, and inventory grew to a 150-day supply, according to Ward’s Automotive. Automakers consider 60 days to be optimal to give dealers enough of a selection for customers. Fiat Chrysler sold only 7,500 of the cars...
  • Hancock Fabrics stores closing nationwide

    04/04/2016 10:48:34 AM PDT · by Lorianne · 73 replies
    UPI ^ | 02 April 2016 | Daniel Uria
    Hancock Fabrics stores will close its remaining 185 stores nationwide after filing for bankruptcy protection earlier this year. Great American Group, a liquidator, announced it was the highest bidder on the assets and inventory of the fabric retailer, which filed for Chapter 11 bankruptcy protection in early February. "Great American Group has worked closely with Hancock Fabrics in a range of capacities over the last several years," Scott Carpenter, of Great American Group, said. "This has given us a deep understanding of Hancock's inventory and assets, which ultimately allowed us to prevail as the highest bidder." On Friday, the stores...
  • Editor and 70-plus others fired at the Orange County Register

    03/31/2016 9:10:33 PM PDT · by EveningStar · 37 replies
    Los Angeles Times ^ | March 31, 2016 | Anh Do
    On the day that Digital First Media completed its purchase of Freedom Communications — parent company of the Orange County Register and the Riverside Press-Enterprise — a wave of layoffs hit the Register. Rob Curley, editor of the paper, confirmed Thursday that it would be his last day. He was among 70-plus staff members who were being let go from the editorial, circulation, advertising and marketing departments, according to sources who spoke on condition of anonymity when discussing the Register.
  • Jobless Claims Surge Most In 2 Years As Challenger Warns Of "Significant" Jump In Retail, Layoffs

    03/31/2016 7:58:47 AM PDT · by SeekAndFind · 12 replies
    Zero Hedge ^ | 03/31/2016 | Tyler Durden
    With both ISM Manufacturing and Services employment indices collapsing, endless headlines of layoffs, Challenger-Grey noting Q1 as the worst since 2009, and NFIB small business hiring weak, it is no surprise that initial jobless claims is finally waking up. For the 3rd week in a row - the longest streak since July 2015. The last 3 weeks have seen a 9.1% surge in jobless claims - the biggest such rise since April 2014.  And finally, as Challenger-Grey notes, Through the first quarter of 2016, employers announced 184,920 job cuts, up 31.8 percent from the 140,241 cuts tracked the first three...
  • CITI: The 'Uber moment' for banks is coming — and more than a million people could lose their jobs

    03/31/2016 7:49:10 AM PDT · by SeekAndFind · 25 replies
    Business Insider ^ | 03/31/2016 | Portia Crowe
    Banks are quickly approaching their "automation tipping point," and they could soon reduce headcount by as much as 30%. That's according to a new Citi Global Perspectives & Solutions (GPS) report on how financial technology is disrupting banks. "Banks' Uber moment will mean a disintermediation of bank branches rather than the banks themselves," the report said. "Specifically, it will mean the shift to mobile distribution being the main channel of interaction between customers and the bank," the report reads. That means that there will be less need for bank branches, and the people who work inside them. "We believe that...
  • 38% of Companies to Reduce Employment in 2016, Only 29% Expect Increase: Five Consequences

    03/22/2016 3:59:04 PM PDT · by Lorianne · 18 replies
    fx street ^ | 17 March 2016 | Mike “Mish” Shedlock
    Is the part-time hiring binge that has inflated job numbers for at least two years about to come to an end? I think so. More importantly, so do CEOs of large corporations. In December, a quarterly survey of large corporation CEOs showed a minuscule net of 1% (35% to 34%) of corporations expected an increase in hiring. 31% expected no change. The latest quarterly survey shows nearly 10% (29% to 38%) of large corporation CEOs expect to reduce headcount. The remaining 33% expect no change.
  • Hillary Clinton meets with Nabisco factory workers facing imminent job cuts

    03/15/2016 6:59:25 AM PDT · by SeekAndFind · 53 replies
    The Guardian ^ | 03/15/2016 | Jamiles Lartey
    Hundreds of Chicago factory workers who are fighting to keep their jobs in the US received a visit from Hillary Clinton on Monday, the day before a tightly contested Democratic primary in Illinois. “It is imperative that we do more to keep jobs here, and we do more to attract jobs to places like Chicago, well, really across our country,” Clinton said after the meeting. Last summer, Mondelēz International, the multinational food and beverages group and owner of Nabisco, announced that the company’s factory on Chicago’s South Side would be cutting 600 jobs and transferring production to new facilities in...
  • Avon to cut 2,500 jobs, move headquarters to Britain

    03/15/2016 6:52:28 AM PDT · by SeekAndFind · 33 replies
    New York (AFP) - Struggling cosmetics company Avon Products, Inc. said it was eliminating 2,500 jobs and moving its headquarters to Great Britain, its latest restructuring after selling off its North American business. The changes were expected to cost $60 million before taxes in mostly employee-related charges in the first quarter of 2016, but headcount reduction will result in $30 million in savings this year, the company said in a statement, released on Monday. Savings were expected to reach up to $70 million in 2017. Avon has "significant commercial operations" in Great Britain and the move would happen "over time,"...
  • Fight for 15 update: Seattle employment craters after minimum wage hike to $15/hour

    03/13/2016 4:09:07 PM PDT · by SeekAndFind · 49 replies
    Hotair ^ | 03/13/2016 | Jazz Shaw
    Science! (Is economics really a science? I’ve long felt it should be taught alongside astrology or some related field.) In any event, the continent sized Petri dish which is the American jobs market has been the subject of much speculation since the Fight for Fifteen muscled its way into the presidential campaign debate. It’s a very populist position which the Democrats have been riding like rocket. At the same time, people who actually study such matters have been warning that it would backfire spectacularly, particularly if it was implemented in a rush. Job availability is subject to the same...