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Keyword: layoffs

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  • Report: ESPN May Lay Off Hundreds of Employees as Part of Disney Cost-Cutting

    10/08/2020 4:50:04 PM PDT · by Rummyfan · 63 replies
    Inside Hook | 8 Oct 2020 | Evan Bleier
    The economic shutdown caused by the coronavirus pandemic that already led Walt Disney to lay off nearly 30,000 employees who worked in the theme park business may soon affect one of the company’s other ventures: ESPN. The Worldwide Leader could lay off hundreds of employees in the coming weeks, sources told Front Office Sports. On the high end, 700 employees could be gone. On the low end, 300. While the majority of layoffs are expected to affect employees who work behind the camera, some on-air talents are also expected to be let go, especially if they are working with an...
  • 15 signs that America’s economic depression is accelerating as we head toward the Holiday Season

    10/06/2020 3:38:38 PM PDT · by Roman_War_Criminal · 19 replies
    economic collapse blog ^ | 10/5/20 | Michael Snyder
    Hardly anyone expected that things would get this bad in 2020. Once the pandemic hit and states all over the country started instituting lockdowns, economic activity collapsed dramatically. U.S. GDP was down 31.4 percent during the second quarter of 2020, and that was a drop without parallel in all of U.S. history. In fact, that decline was more than three times as large as the previous record. But eventually states started to “reopen” their economies, and U.S. GDP for the third quarter is expected to show a significant rebound when the numbers are finally released. Of course we still aren’t...
  • Disney Plans 28,000 Layoffs In U.S. Parks Biz Hard Hit By COVID

    09/29/2020 2:14:24 PM PDT · by Stravinsky · 30 replies
    Deadline ^ | September 29, 2020 | Jill Gildsmith
    Walt Disney’s parks chief Josh D’Amaro said Tuesday the company will be laying off staff at its theme parks, the segment of the company hardest hit by the pandemic. ... ”In light of the prolonged impact of COVID-19 on our business, including limited capacity due to physical distancing requirements and the continued uncertainty regarding the duration of the pandemic – exacerbated in California by the State’s unwillingness to lift restrictions that would allow Disneyland to reopen – we have made the very difficult decision to begin the process of reducing our workforce at our Parks, Experiences and Products segment at...
  • De Blasio says early retirement incentives should be considered for NYC employees facing potential layoffs

    09/22/2020 9:33:32 AM PDT · by ChicagoConservative27 · 15 replies
    Foxnews ^ | 09/22/2020 | Daniella Genpvese
    New York City Mayor Bill de Blasio said Monday that early retirement incentives should be considered for city employees who are facing potential layoffs amid an ongoing budget crisis. De Blasio stressed during a press briefing that early retirement incentives, if offered, would only be a piece of the solution. "I think early retirement as a policy is something we have to put into play," he said. "So definitely a piece of the solution, it’s not the whole solution, but early retirement will definitely be a piece of the solution.
  • Carnival Cruise Line Terminates Thousands of Crew Members and Senior Shipboard Officers

    09/21/2020 5:10:38 PM PDT · by Capt. Tom · 39 replies
    Cruise Law News ^ | September 20, 2020 | Jim Walker
    Today, several crew members provided internal documentation indicating that Carnival is sending as many as 7,000 termination letters to Carnival officers and crew members. As many as eight captains (masters), five staff captains, five guest service managers, six executive chefs and six hotel directors are among the top ship employees who are being laid off. Carnival sent these letters via e-mails to officers and crew members who are at home on vacation or otherwise at home awaiting a vessel assignment if and when the CDC permits cruising from U.S. ports. Carnival terminated the jobs of as many as one hundred...
  • Congress’ Coronavirus Response Could Cause Mass Layoffs Right Before The Election

    07/22/2020 7:41:57 AM PDT · by SeekAndFind · 8 replies
    The Federalist ^ | 07/22/2020 | Willis L. Krumholz
    AmericaÂ’s official unemployment rate is a shocking 11 percent, meaning about 18 million Americans are out of work. ThatÂ’s bad enough, but in addition 30 million Americans are receiving weekly jobless benefits, meaning the true unemployment number could be much higher, between 15 and 20 percent. The Bureau of Labor Statistics doesnÂ’t count people as unemployed if they havenÂ’t looked for a job in a certain amount of time, but changes to benefits rules have allowed many jobless to receive benefits without looking for work.In other words, AmericaÂ’s employment situation is a volatile disaster that is hard to measure....
  • N.J. to borrow billions to help avert public worker layoffs after Murphy, top Democrats cut deal

    07/11/2020 7:13:16 PM PDT · by Coleus · 29 replies
    Star Ledger ^ | 07.11.20 | Brent Johnson,Samantha Marcus, Sophie Nieto-Munoz
    Gov. Phil Murphy and his fellow Democrats who lead the state Legislature agreed to a plan Friday that would allow New Jersey’s state government to borrow up to nearly $10 billion to help make up massive losses in tax revenue wrought by the coronavirus pandemic. Almost immediately, top Republican leaders announced they plan to file lawsuits to prevent the move, calling the plan “clearly unconstitutional.” Murphy said New Jersey is facing possibly a $20 billion hole in its state budget, and borrowing is one of a few necessary moves the state needs to take balance the budget and avoid widespread...
  • United Sending Layoff Notices To Nearly Half of US Employees

    07/08/2020 11:31:09 AM PDT · by Enlightened1 · 42 replies
    AP News ^ | 07/08/20
    United Airlines is warning 36,000 employees - nearly half its U.S. staff - they could be furloughed in October, the clearest signal yet of how deeply the virus pandemic is hurting the airline industry. The outlook for a recovery in air travel has dimmed in just the past two weeks, as infection rates rise in much of the U.S. and some states impose new quarantine requirements on travelers. United officials said Wednesday that they still hope to limit the number of layoffs by offering early retirement benefits, and that 36,000 is a worst-case scenario. The notices going to employees this...
  • Gundlach: A 'wave' of layoffs is coming for $100,000/year white-collar jobs

    06/09/2020 6:24:48 PM PDT · by fluorescence · 54 replies
    Yahoo Finance ^ | June 9, 2020 | Julia La Roche
    Billionaire bond investor Jeffrey Gundlach, the CEO of $135 billion DoubleLine Capital, sees the potential for a "wave of more higher-end unemployment' hitting white-collar workers making more than $100,000 per year as employers increasingly question the value these employees bring. In 11 weeks, more than 42 million Americans filed for unemployment insurance as the COVID-19 pandemic wrecked the economy. The bulk of these job losses hit lower-income households the hardest. "A lot of times it's not the earthquake, it's the fire," Gundlach said on a webcast for the DoubleLine Total Return Bond Fund (DBLTX), later adding that he could "easily...
  • Boeing cutting more than 12,000 U.S. jobs with thousands more planned

    05/27/2020 9:54:56 AM PDT · by SeekAndFind · 15 replies
    Reuters via Yahoo News ^ | 05/27/2020 | David Shepardson
    Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic. Boeing also disclosed it plans "several thousand remaining layoffs" in the next few months but did not say where those would take place. The company announced in April it would cut 10% of its worldwide workforce of 160,000 by the end of 2020. Boeing said Wednesday it had approved 5,520 U.S. employees to take voluntary layoffs and they will leave Boeing in the coming weeks. Boeing also disclosed...
  • The Atlantic To Lay Off 68 Employees, Cut Executive Pay And Freeze Salaries

    05/21/2020 9:09:51 AM PDT · by wac3rd · 43 replies ^ | May 21, 2020 | Ted Johnson
    "In a memo to staff, chairman David Bradley wrote that even though they have had “exceptional growth” in print and digital subscriptions since September, when they introduced a paywall, there has been an “overnight and and near-complete undoing of in-person events and, for now, a bracing decline in advertising.” The cuts represent 17% of staff. Bradley also announced play cuts for executives and a general pay freeze for the rest of the year. He wrote, “I was to tell our departing colleagues how deeply sorry I am. If we saw any prospect that your jobs souls return in a reset...
  • Study Finds 42% Of Pandemic Layoffs Will Become Permanent Job Losses

    05/12/2020 2:00:06 AM PDT · by Enlightened1 · 46 replies
    Washington Examiner ^ | 05/11/20 | Mica Soellner
    Many of the coronavirus pandemic layoffs will become permanent job losses, according to a new study with alarming implications for the future of the economy.Forty-two percent of workers experiencing recent layoffs will suffer permanent job losses, according to a paper circulated by the National Bureau of Economic Research.The finding is especially grim news because officials are hoping that most of the workers sent home during the pandemic will return quickly to their old jobs. The vast majority of the massive layoffs in response to the pandemic have been on a temporary basis: In April, 18 million of the 20.6 million people...
  • Dallas Furloughs 500 Employees to Fight Coronavirus Budget Crunch

    05/09/2020 10:28:32 PM PDT · by fluorescence · 15 replies
    The Dallas Observer ^ | May 8, 2020 | Stephen Young
    About 500 Dallas employees have been furloughed as the city continues to fight its coronavirus budget crunch, Dallas Mayor Eric Johnson and City Manager TC Broadnax announced Friday. The furloughs have been handed out across 10 departments, according to a letter from Broadnax to city employees. "The city manager notified the City Council of his decision on the furloughs this morning. Although I knew such measures were likely, my heart continues to break at the news of more economic pain for people in our city," Johnson said in a statement Friday afternoon. "Further difficulties may still be ahead as we...
  • Souplantation’s buffet-style restaurants closing for good because of the coronavirus

    05/07/2020 10:00:57 PM PDT · by fluorescence · 73 replies
    Los Angeles Times ^ | May 7, 2020 | Lori Weisberg, Lucas Kwan Peterson
    Souplantation, the popular buffet-style dining brand founded in San Diego 42 years ago, is closing all of its restaurants permanently, a casualty of the COVID-19 pandemic that is likely to be the death knell for all self-serve eateries. The permanent closing of the 97 restaurants, including 44 in California, was announced Thursday after weeks of efforts to salvage San Diego-based Garden Fresh Restaurants, the parent company of Souplantation and Sweet Tomatoes. The closing will mean lost jobs for 4,400 employees. “The FDA had previously put out recommendations that included discontinuing self-serve stations, like self-serve beverages in fast food, but they...
  • Planned Parenthood reports layoffs, furloughs

    05/07/2020 4:29:22 PM PDT · by fluorescence · 15 replies
    Crain's New York Business ^ | May 07, 2020 | Jennifer Henderson
    Planned Parenthood of Greater New York—which launched in January after the merger of five affiliates—has laid off or furloughed nearly a third of its staff as a result of the Covid-19 crisis. About 135 employees have been laid off, and 150 have been furloughed or had their hours reduced. "It's very difficult to make that decision," said Laura McQuade, president and CEO. "We felt that in order to stabilize the organization, we had to make that decision." Planned Parenthood relies on insurance and patient revenue as well as grants and private philanthropy. All have taken a hit during the pandemic....
  • Airbnb Cutting 25% of Workforce in Layoffs

    05/07/2020 2:02:10 AM PDT · by fluorescence · 11 replies
    The Street ^ | May 5, 2020 6:17 PM EDT | Nelson Wang
    Airbnb is letting go of a quarter of its workforce, co-founder and CEO Brian Chesky told employees in a memo on Tuesday, as the coronavirus pandemic has decimated demand for his company’s services. The home-sharing platform, which was widely expected to go public this year, becomes the latest sharing economy company to institute or consider instituting significant layoffs. Uber is reportedly considering laying off 20% of its workers while Lyft has already laid off 17% of its employees. "We are collectively living through the most harrowing crisis of our lifetime, and as it began to unfold, global travel came to...
  • Uber layoffs, following Lyft, Airbnb, add to SF economic pain

    05/07/2020 1:54:49 AM PDT · by fluorescence · 8 replies
    San Francisco Chronicle ^ | May 6, 2020 | Carolyn Said
    Three marquee San Francisco tech companies — Uber, Airbnb and Lyft — which exemplified a new generation of megabillion-dollar startups, have now slashed staffs in response to the coronavirus pandemic and shelter-in-place orders. Ride-hailing company Uber, among the city’s largest employers, was the latest to do so, laying off 14% of its workforce, or 3,700 recruiting and customer support employees worldwide, on Wednesday in the biggest round of layoffs to date for a San Francisco tech company during the crisis. Uber’s smaller rival Lyft had 982 layoffs last week, or 17% of its staff, and will implement furloughs and pay...
  • United Airlines to cut 30% of management in October and braces pilots for changes as well

    05/06/2020 7:15:06 AM PDT · by fluorescence · 20 replies
    CNBC ^ | Tue, May 5 2020 5:41 AM EDT | al-Reuters
    United Airlines plans to cut at least 3,400 management and administrative positions in October as the coronavirus pandemic crushes air travel demand, and has told pilots to brace for changes as well, according to two memos seen by Reuters. Chicago-based United is among the U.S. airlines that have accepted U.S. government payroll aid that bans job or pay cuts before Sept. 30. However, United and other carriers have warned that demand is unlikely to recover to pre-crisis levels by that date, forcing them to shrink in the fall. The United memos are the first indication of just how much major...
  • NBCUniversal Weighs Significant Layoffs at Media, Entertainment Units

    05/02/2020 3:40:31 AM PDT · by abb · 34 replies
    The Wall Street Journal ^ | May 1, 2020 | Joe Flint and Lillian Rizzo
    Comcast Corp. ’s NBCUniversal is reviewing operations across its portfolio of media and entertainment properties as part of a cost-cutting effort that could result in a significant reduction of staff, people familiar with the matter said. Discussions began this past week regarding cost-cutting measures, including layoffs, the people said. NBCUniversal’s holdings include the NBC broadcast network, the Universal Pictures movie studio, theme parks, NBC News and several entertainment cable channels. NBCUniversal Chief Executive Jeff Shell alluded to the review during Comcast’s earnings call Thursday. Asked how NBCUniversal was positioned to deal with the economic fallout from the coronavirus, Mr. Shell...
  • Tribune Publishing Announces Company-Wide Furloughs

    04/23/2020 5:04:50 AM PDT · by abb · 15 replies
    Media Post ^ | April 23, 2020 | Melynda Fuller
    After instituting pay cuts across its nonunion employees earlier this month, Tribune Publishing announced it will furlough employees across the company. Staffers will take three-week furloughs in one-week increments between May and July of this year to “ensure financial stability,” but will retain health benefits during those periods. Furloughs effect nonunion employees who make between $40,000 and $67,000 per year, the Chicago Tribune reports. As an alternative to a furlough, employees have the option of receiving a severance package and leaving the company. The move comes as the company experiences a further decline in advertising revenue amid the COVID-19 pandemic....