The Daily Job Cuts

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Offline Letsbereal

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #1 on: January 17, 2016, 11:27:24 PM »
Thanks for starting a lay-off thread, good timing to
track and chart the oncoming carnage
of layoffs.  This thread will be a chronological
start of the severely worsening economy in all sectors
from those who work at the very bottom of the rungs
to those who work above the glass ceiling.
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #2 on: January 20, 2016, 01:26:01 AM »
Just a few random headlines -

Noble Corp. - 100 offshore Drilling Jobs

Yahoo - Staffers Fear 20-25% Layoffs

Johnson & Johnson - 3,000 in Device Division

This will cause a lot of hurt -

January 12 , 2016

BP - 4,000 More Job Cuts

(Because of falling oil prices)



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Offline windyacres

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Re: The Daily Job Cuts
« Reply #3 on: January 24, 2016, 03:03:15 AM »
January 23 , 2016

VMware - Report 900 Layoffs Possible Next Week?

January 22 , 2016

Schlumberger Ltd - 10,000

January 21, 2016

Canadian Pacific Railway ( Intern.) - 1,000 Positions

Carrier Corp. in DeWitt NY - Layoffs Coming?

Southwestern Energy Co. - 1,100

Pearson Plc ( International ) - 4,000

Barclays - 1,000 Investment Bank Jobs Worldwide

Nephron Pharmaceuticals Corp Orlando - 250 ?

More layoffs at the link

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #4 on: January 31, 2016, 02:18:04 AM »
Caterpillar closing 5 plants, cutting 670 jobs

...plans to close five plants and trim about 670 jobs in Illinois and several other states, in the latest phase of a larger cost-cutting campaign announced last year.

http://www.cnbc.com/2016/01/29/caterpillar-closing-5-plants-cutting-670-jobs.html

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #5 on: February 02, 2016, 02:16:08 AM »
February 1 , 2016

Report: Yahoo - Layoff 15% of Workforce?

France's Vallourec SA - 2,500
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #6 on: February 04, 2016, 02:11:11 AM »
Yep, it's confirmed 1,700 YAHOO employees getting laid off.
Imagine how it's going to look in the job cuts dept come
start of 3Q  this year, especially in the oil sector.

February 2 , 2016

Yahoo - 1,700 Layoffs / Closing 5 Offices

Dow Chemical - 500 More

Sterling National Bank Yonkers - 10

Update: BP - 7,000 by end of 2017

Update: Quicksilver Resources - 164 in April
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Offline Letsbereal

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Mass Layoffs To Return With A Vengeance
« Reply #7 on: February 04, 2016, 07:14:20 PM »
Mass Layoffs To Return With A Vengeance
4 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-04/mass-layoffs-return-vengeance

Johnson & Johnson to slash 3,000 jobs
Wal-Mart pulls plug on smallest store format, shuts 269 stores
GE plans to cut 6,500 jobs in Europe
BP to slash thousands more jobs in face of oil downturn
Macy's to cut 3,000 jobs, close 36 stores
Sprint cutting 2,500 and closing call centers to cut costs
Canadian Pacific Railway plans to cut 1,000 positions
Brazil economy shed 1.5 million payroll jobs in 2015
Pearson to cut 4,000 jobs in latest restructuring
Barclays to slash about 1,000 investment bank jobs worldwide
Southwestern Energy to lay off 1,100 workers amid oil slump
Major banks are making cuts: Bank of America, Citi Group and JPMorgan Chase are trimming jobs and branches.
Autodesk to cut 10 pct of workforce
Caterpillar closing 5 plants, cutting 670 jobs
VMware posts higher-than-expected revenue, announces job cuts
AIG to cut jobs in sweeping overhaul
Monsanto to slash 1,000 more jobs, total planned cuts at 3,600
Instacart layoffs may be a sign of things to come
EMC plans layoffs as it cuts annual costs by $850M



My January Layoffs List http://forum.prisonplanet.com/index.php?topic=100571.msg1586383#msg1586383

WEF: Five Mln Jobs Likely To Be Erased In 5 Years
Homelessness Surges Across The US
The labor force participation rate remained low, at 62.5%
Record 95 Million Americans NOT In Labor Force

AIG to spin off mortgage unit, cut jobs in sweeping overhaul
At least 26,000 U.S. coal mining jobs have been lost in slump
Barclays to slash about 1,000 investment bank jobs worldwide
BP Fires 4,000 As Oil Slump Deepens
DuPont 10% reduction in its workforce of about 54,000 employees
GE Plans to Cut 6,500 Jobs in Europe After Alstom Purchase
GoPro plans to lay off 7% of its workforce
J&J to Cut 3,000 Jobs Amid Medical-Device Sales Slump
Norfolk Southern to cut jobs, rail lines
Pearson to Eliminate 4,000 Jobs in Bid to Revive Earnings
Sprint Fires 2500: 8% Of Its Entire Workforce
Tata Steel confirms 1,050 job cuts
Tiffany cuts jobs as sales lose sparkle
U.S wireless carrier Sprint slashes 2,500 jobs to cut costs
VMware cuts 800 jobs
WalMart To Fire 16,000 As It Closes 269 Stores Globally
Yahoo to Pursue Asset Sales, Cut 15% of Staff
Yahoo looking to slash 10% or more of its workforce

Finland Jobless Rate At 6-Month High
Malaysia Jobless Rate Climbs In November
Poland Jobless Rate Climbs More Than Expected In December
South Africa Sees 32,000 Possible Mining Job Cuts, Minister Says
Sweden Jobless Rate Rises Unexpectedly In December
Taiwan Dec Jobless Rate Rises More Than Expected
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Offline Letsbereal

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Starting 2016 With A Bang: Challenger Reports Highest January Layoffs Since 2009
4 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-04/starting-2016-bang-challenger-reports-highest-january-layoffs-2009



Initial Jobless Claims Average Hovers 11-Month Highs
4 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-04/initial-jobless-claims-average-hovers-11-month-highs

ConocoPhillips Slashes Dividend, Warns Of "Lower Prices For Longer"; Weatherford Fires 15% Of All Workers
4 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-04/conocophillips-slashes-dividend-prepares-lower-prices-longer-weatherford-fire-15-all
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #9 on: February 05, 2016, 04:25:31 AM »
Good posts Letsbereal (reply # 7 & 8 ) and also good timing
starting this thread with what's to come in 2016  job loss wise.
People are in denial they won't be the one to lose their job,
everyone is replaceable, no job is secure.   Save money....
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #10 on: February 05, 2016, 04:41:42 AM »
Snipette from this thread -

The number of job cuts in the United States skyrocketed 218 percent during the month of January according to Challenger, Gray & Christmas.

http://forum.prisonplanet.com/index.php?topic=313859.0
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #11 on: February 05, 2016, 05:24:54 AM »
Mass Layoffs To Return With A Vengeance
How safe is your job?


by Adam Taggart
February 3, 2016

Remember the mass layoffs of 2008-2009? The US economy shed millions of jobs quickly and relentlessly, as companies died and the rest fought for survival.

Then the Fed and the US government flooded the banks and the corporate sector with bailouts and handouts. With those giga-tons of liquidity sloshing around, as well as taking on massive amounts of new cheap debt, companies were able to finance their working capital needs, hire workers back, and even buy-back their shares en mass to make themselves look deceptively profitable. The nightmare of 2008 soon became a golden era of 'recovery'.

Well, 2016 is showing us that that era is over. And as stock prices cease to rise, and in fact fall within many industries, layoffs are beginning to make a return as companies jettison costs in attempt to reduce losses.

Since January 1st, here is a but of subset of the headlines we've seen:

    Johnson & Johnson to slash 3,000 jobs
    Wal-Mart pulls plug on smallest store format, shuts 269 stores
    GE plans to cut 6,500 jobs in Europe
    BP to slash thousands more jobs in face of oil downturn
    Macy's to cut 3,000 jobs, close 36 stores
    Sprint cutting 2,500 and closing call centers to cut costs
    Canadian Pacific Railway plans to cut 1,000 positions
    Brazil economy shed 1.5 million payroll jobs in 2015
    Pearson to cut 4,000 jobs in latest restructuring
    Barclays to slash about 1,000 investment bank jobs worldwide
    Southwestern Energy to lay off 1,100 workers amid oil slump
    Major banks are making cuts: Bank of America, Citi Group and JPMorgan Chase are trimming jobs and branches.
    Autodesk to cut 10 pct of workforce
    Caterpillar closing 5 plants, cutting 670 jobs
    VMware posts higher-than-expected revenue, announces job cuts
    AIG to cut jobs in sweeping overhaul
    Monsanto to slash 1,000 more jobs, total planned cuts at 3,600
    Instacart layoffs may be a sign of things to come
    EMC plans layoffs as it cuts annual costs by $850M

Note that nearly all of these companies are in the Energy, Finance and Tech sectors -- the three biggest engines of growth, profits and market value appreciation within the economy over the past 7 years.

What will the repercussions be if those three industries go into contraction mode at the same time?

Whatever the specifics may be, the general answer is easy to predict: Nothing good.

This topic has particular relevance to me today, as my former employer Yahoo! just announced that it's cutting 15% of its workforce (1,700 jobs) and considering putting itself up for sale. This is no shock to me, as I've long publicly predicted Yahoo!'s inexorable swirl into irrelevance, but it's timing is indicative of the new era the economy is now entering.

With its stake in Alibaba, Yahoo! participated in the mania that drove Chinese and other emerging market shares in 2014 through mid-2015. The capital that flooded into the Tech sector in general didn't hurt, either. Both of these helped mask the business' broken fundamentals and kept the day of reckoning for its lack of demonstrable progress at bay. But no longer.

As Warren Buffet famously quipped: Only when the tide goes out do you discover who's been swimming naked. Well, with the collapse of the Asian stock markets last year and the entire global market so far this year, the tide is fast receding and the rot at Yahoo! is now plainly visible to all. How much rot? During its earnings call yesterday, the company announced it's taking a write-down of $4.5 billion. That's nearly as much as it made in top-line revenue for all of 2015!

Yahoo! is one of the weaker players in Tech these days, and it's now stumbling hard. Here at Peak Prosperity, we predict that collapse happens 'from the outside in', where the weaker parties fall first, followed by the demise stronger and stronger players. We've been seeing that happen internationally over the past year as smaller poorer countries succumbed first to slowing global economic growth, and we're now seeing larger and more developed countries become desperate (Japan, anyone? How about Italy?). Yahoo! is a similar harbinger for the Tech sector, and is being fast joined by the many Tech companies in the list of headlines above (by the way, there are *many* more Tech companies I could easily add to that list -- like HP who announced job cuts of 85,000 last fall).

And there's good argument to be made that mass layoffs in Tech will be worse today than back in 2008/9. Back then, there were fast-expanding private future behemoths one could jump to: Facebook, Palantir, Uber and the like. Even Google, Netflix and Amazon held up well and were still investing for growth during that period. Today, there is no ready stable of up-and-comers with similar potential to power through a recession.

The ability for those laid-off to find open positions elsewhere will likely be more similar to the 2000 Tech bubble burst. Working in Silicon Valley back then, I was amazed at how fast 101 changed from a crawling bumper-to-bumper experience to an uncrowded freeway. The number of jobs (and thus commuters) that vaporized quickly was astonishing.

And that's just Tech. As Chris has been warning us loudly, something is deeply amiss in the Financial sector. It's mind-boggling that the biggest of the "too-big-to-fail" banks, like Citibank and Bank of America, have lost 25% of their market value in a little over 1 month(!). Deutsche Bank has lost over 33% over the same short period. All while the general market is down about 8%.

What these prices are telling us is that something big, ugly and damaging is happening within the banking sector. We just don't know exactly what yet. And if you remember your history, this is eerily similar to how things went south so quickly in 2008. The banks started catching the sniffles, and soon after, Hank Paulson was on his knees begging Congress for the authority to stave off a full meltdown of the banking system.

And then there's Energy. Can it be that the price of a barrel of oil was over $70 just 10 months ago? And over $100 five short months before that? Yesterday it was below $30. As we've been warning about here at Peak Prosperity, the carnage that collapse in price is going to wreak across the highly-leveraged companies in the Energy sector is going to be biblical. Not to mention the many other sectors that service the energy industry (trucking, housing, retail, infrastructure development, etc). We are just beginning to see the very early-stage ramifications, but in the words of Bachman Turner Overdrive: You ain't seen nothin' yet.
Conclusion

My point here is that the worm has turned.

All the stimulus and intervention undertaken by the Fed at all gave us five pleasant years (2010-2104) of rising stock, bond and home prices that allowed us to pretend that the 2008 credit crisis was a one-time event.

2015 proved to be the year that reality intervened. The rocket ride we were on hit its zenith, and things hung precariously there.

2016 is fast proving to be the year that the laws of physics are starting to matter again, and our rocket is now beginning its descent back to Planet Earth. How far we fall this year vs next is still unknown, but the direction of the trajectory is becoming increasingly hard to dispute. And as we lose altitude, we're going to start losing jobs along with it.

So, for anyone reading this who is a salaried employee, a very important question to ask yourself is: Do I have a Plan B in place if I get unexpectedly laid off this year or next?

I'm not trying to frighten anyone unnecessarily. But I do see the probability of wide-scale jobs losses as materially higher this year than it was just a few short months ago. And with the headlines in the news today, things can easily accelerate further from here.

If you do not have a confidence-inspiring Plan B lined up yet, remember that the best time to plan for crisis is before it arrives. Spend time asking yourself what you would do in the aftermath of a pink slip. Save a greater percentage of your income, line up professional contacts, conduct informational interviews, and develop any needed new skills now -- so that if you ever do need to turn to them, they're already there to support you. A lot of the process for doing this is detailed in our book on career transition, and our related podcasts with career coach Jennifer Winn and the Johnson O'Connor Foundation are helpful resources, too.

Investing in the other Forms of Capital (besides money) that we detail in Prosper! will only help add to your resilience, as well. Especially Emotional Capital. Dealing with job loss is stressful by itself, but potentially doing so in the midst of another punishing Great Recession would place challenging strain on any of us. Working to improve our emotional ability to deal with setback, as well as perhaps doing the same with Social Capital -- ensuring you have a community to support you through any tough times, just makes good sense.


www.peakprosperity.com
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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #12 on: February 08, 2016, 04:23:14 PM »
The American Dream Is Dead (And Now Even The Mainstream Media Is Starting To Admit It)
7 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-07/american-dream-dead-and-now-even-mainstream-media-starting-admit-it

- Wal-Mart is closing 269 stores, including 154 inside the United States.
- K-Mart is closing down more than two dozen stores over the next several months.
- J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.
- Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.
- The Gap is in the process of closing 175 stores in North America.
- Aeropostale is in the process of closing 84 stores all across America.
- Finish Line has announced that 150 stores will be shutting down over the next few years.
- Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #13 on: February 11, 2016, 04:42:20 AM »
Carrier relocating Indy manufacturing to Mexico, 1,400 jobs affected   

NDIANAPOLIS -

Carrier has announced plans to relocate its Indianapolis operations to Mexico by 2019, affecting roughly 1,400 jobs.

Carrier manufactures heating, ventilating, air conditioning and refrigeration systems and operates a facility on W. Morris St. in Indianapolis. The company plans to relocate over the next three years in three phases.

United Steelworkers 1999 employs about 1,300 members at the Morris Street Carrier plant. Chuck Jones of Local 1999 tells WTHR that employees were notified Wednesday morning about the jobs moving to Mexico. On average, the jobs pay up to $24 per hour.

The first jobs will be going away in May 2017. Jones says the union will start bargaining for job loss benefits soon. Carrier says some employees may be eligible for its scholar program, which would help pay tuition, books and fees for college education.

Carrier's residential HVAC headquarters and engineering organization will remain in Indianapolis.

Chris Nelson, President, HVAC Systems and Services North America, said, "This move is intended to address the challenges we continue to face in a rapidly changing HVAC industry, with the continued migration of the HVAC industry to Mexico, including our suppliers and competitors, and ongoing cost and pricing pressures driven, in part, by new regulatory requirements. Relocating our operations to a region where we have existing infrastructure and a strong supplier base will allow us to operate more cost effectively so that we can continue to produce high-quality HVAC products that are competitively positioned while continuing to meet customer needs. This decision is difficult and we recognize the impact on employees, their families and the community. We are committed to ensuring that our employees are treated respectfully and to working closely with their representatives throughout this transition."

http://www.wthr.com/story/31188372/carrier-to-relocate-indianapolis-manufacturing-operations-to-mexico-1400-jobs-affected
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #14 on: February 12, 2016, 04:33:49 AM »

Update: Yahoo Sunnyvale HQ - 107

(Sunnyvale is in the heart of Silicon Valley - The Bay Area - California )
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #15 on: February 14, 2016, 12:37:48 AM »
This correlates with reply #13

Video Captures the Exact Moment 1,400 Employees Learn
They Are Losing Their Jobs to Mexico   


Editor’s Note:

This post contains language some readers may find inappropriate.

Carrier Air Conditioner has announced that it plans to move at least 1,400 jobs from the U.S. to Mexico – and one employee captured his colleagues’ reaction on video.

In a video uploaded to YouTube on Thursday, a company representative at a production facility in Indianapolis is speaking in front of a large group of employees when he shares the news:
Image source: YouTube

Image source: YouTube

“The best way to stay competitive and protect the business longterm is to move production from our facility in Indianapolis to Monterrey, Mexico,” the representative says as the employees begin booing and shouting.

The representative goes on to share details that the company doesn’t intend to fully close the facility’s doors until mid-2017, and encourages employees to “remain committed to manufacturing the same high quality products” until then.

“Yeah, f*** you!” one person shouts back.

Later, another one says, “How long will it take before people start tearing sh*t up?”

The representative then tells employees how “extremely difficult” a decision this was to make.

“It was made most difficult because I understand it will have an impact on all of you, your families, and the community,” he said.

Watch the clip below:

(Warning – strong language)

Edited to add the direct link to the video -

https://www.youtube.com/watch?v=Y3ttxGMQOrY

Link to the story -

http://www.theblaze.com/stories/2016/02/12/video-captures-the-exact-moment-1400-employees-learn-they-are-losing-their-jobs-to-mexico/

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #16 on: February 16, 2016, 04:52:04 AM »
Company boycotts Carrier in sympathy of laid off workers 

February 11, 2016
 By Jeff Wagner

ANDERSON, Ind. (WISH) - A HVAC company owner is turning his back on one of his biggest suppliers after he said the supplier turned its back on its employees.

Wednesday, Carrier announced it plans to relocate its manufacturing plant from Indianapolis' west side to Mexico, taking 1,400 jobs with it. The decision obviously isn't sitting well with employees but it's also bothering several heating and air companies.

It's a business decision that comes from the heart.

"We're not helping buy a CEO their 5th vacation home, we're helping feed our family," said R.D. Poffenbarger as he installed a thermostat.

He owns 911 Heating and Cooling in Anderson and is loyal to his suppliers.

"I've used Carrier products in my company the whole time," he said spanning 16 years in business. But he said that won't happen anymore, not after what Carrier announced Wednesday.

"They were always promoting that they were made in the U.S. and it just shocked me that they would (relocate to Mexico)," he said.

The out-of-the-country move is part of the reason why Poffenbarger says he'll no longer use Carrier products. "You notice different workmanship failures," he said. "It just gets to be a cheaper product."

He also sympathizes with the workers. Living in Anderson, he knows what it's like when manufacturing companies skip town.

"Used to be Delco, Guide Lamp, GM, and they all left. So I have friends you know, I have people I went to school with as parents that all of sudden were out of jobs," he said.

Poffenbarger plans to use only suppliers like Goodman or Ameristar going forward. It might hurt his bottom line, but he said it won't hurt his conscience.

"I was talking to my service manager Coby and I said you know, we may take a hit for doing this but I feel it's right," he said.

Earlier in the day, Poffenbarger said he was at a HVAC supply store. He said while there, other heating and air company owners told him they agreed with his decision. He said the supply store was also contemplating not carrying Carrier products.


http://wishtv.com/2016/02/11/company-boycotts-carrier-in-sympathy-for-laid-off-workers/



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Offline windyacres

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Re: The Daily Job Cuts
« Reply #17 on: February 18, 2016, 02:29:05 AM »
February 17 , 2016

Walt Disney World - 100 Painters

Prudential Insurance PA - 91

Bombardier - 7,000 over 2 Years
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #18 on: February 20, 2016, 02:59:55 AM »
Oil driller cut 25,000 jobs, paid CEO $18 million 

2015 was a tough year for oil driller Schlumberger. Unless you were the CEO.

CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before.

The rest of Schlumberger didn't fare so well.

The company cut 25,000 jobs during the year, or 20% of its workforce. Revenue was down 27%, and profit plunged 41%.

Schlumberger (SLB) shares tumbled 18%.

The weak results and layoffs are the result of the plunge in the price of oil.

The modest drop in Kibsgaard's compensation was the result of the performance of his pension plan. His base salary and stock were up from 2014 levels. The cash he took home jumped 12% to $5.2 million.


http://money.cnn.com/2016/02/19/news/companies/schlumberger-ceo-pay-oil-jobs/index.html

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #19 on: February 21, 2016, 01:52:30 AM »
Update: Yahoo - 300+ in California
(Media Division)
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #20 on: February 23, 2016, 05:06:28 AM »
Global Investment Banks Have Shed 15,000 Trading And Sales Jobs Since 2010 

“A lot of those roles within finance are diminishing and frankly might not come back"

Owen Davis
 International Business Times
 February 22, 2016

Trading desks at major banks have been bleeding since 2010, and newly released data show that the past year was no exception.

Head counts in trading and sales at the 12 largest global investment banks fell by 800 in the past year, bringing the five-year total to 14,700 jobs sheared from banks’ payrolls. Those positions include roles in investment banking divisions, equities trading, and fixed-income, currencies and commodities units (or FICC), according to research by U.K. consulting firm Coalition.

Revenue in these divisions also continued a multiyear slide, falling by $4.4 billion between 2014 and 2015, and nearly 15 percent since 2010. The report counted cuts at Goldman Sachs, Morgan Stanley, Barclays, HSBC and eight other major investment banks.

Peter Laughter, CEO at the staffing firm Wall Street Services, described a broad shift in the landscape of investment banking in the past decade, as technological advances and automation have transformed entire investment banking divisions.

Read more

http://www.infowars.com/global-investment-banks-have-shed-15000-trading-and-sales-jobs-since-2010/
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #21 on: February 26, 2016, 01:56:37 AM »
Halliburton Cuts Another 5,000 Workers to Cope with Oil Downturn

 Bloomberg

Quote
    With the latest layoffs, the Houston-based provider
of drilling and hydraulic fracturing services will have let go
 nearly 29,000 workers, or more than a quarter of its headcount.

http://www.bloomberg.com/news/articles/2016-02-25/halliburton-cuts-another-5-000-workers-to-cope-with-oil-downturn
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #22 on: February 28, 2016, 02:21:10 AM »
Bowie shuts down coal mine 

 Grand Junction Media
 February 26, 2016
 Dennis Webb

The North Fork Valley is now down to one operating coal mine after Friday’s announcement that the Bowie No. 2 Mine near Paonia is being idled.

Kentucky-based Bowie Resource Partners said in a news release that the action is occurring “as a result of continued market deterioration.” “The mine will remain idle while the market for Bowie No. 2 coal is evaluated,” the company said.

The mine employs 108 full-time employees and one contractor.
Bowie said it expects that 68 positions will be eliminated.

Just a few years ago, Bowie No. 2 employed more than 300 miners

Another North Fork Valley mine, Oxbow Mining’s Elk Creek Mine, was idled by late 2013 after problems a year earlier that led to a fire that stranded its longwall equipment underground in January 2013. Oxbow also had employed more than 300 miners at one time.

A third mine, West Elk, continues to operate in the valley, and in fact last year was the most productive coal mine in the state despite its production having dropped off slightly for the year. West Elk is owned by Arch Coal, a leading coal producer that recently filed for Chapter 11 bankruptcy reorganization due to continuing problems in the coal market.

The loss of coal jobs has hit the North Fork Valley hard because they have represented a proportionately high number of jobs in a relatively rural area.

it’s difficult to replace high-paying jobs.

Read more


http://www.gjsentinel.com/news/articles/bowie-shuts-down-coal-mine/


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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #23 on: March 01, 2016, 04:08:45 AM »
Feb 27, 2016

Exclusive: Boeing plans layoffs for airplane engineers http://www.reuters.com/article/us-boeing-layoffs-idUSKCN0VZ2U2

Feb 26, 2016

Caterpillar, Deere cut 170 more jobs as sales slump http://www.reuters.com/article/us-deere-and-co-restructuring-idUSKCN0VZ29P

Feb 25, 2016

Halliburton to slash 5,000 more jobs amid oil slump http://www.reuters.com/article/us-halliburton-redundancies-idUSKCN0VY2MQ

Feb 24, 2016

Abengoa unit files for U.S. bankruptcy with up to $10 billion in debt http://www.reuters.com/article/us-abengoa-bankruptcy-usa-idUSKCN0VX2OH

Caterpillar combining two divisions, analysts see more job cuts http://www.reuters.com/article/us-caterpillar-restructuring-idUSKCN0VX1ZR

Feb 23, 2016

Lexmark says 'positive interest' in strategic options as jobs cut http://www.reuters.com/article/us-lexmark-intl-restructuring-idUSKCN0VW13V

Feb 17, 2016

Yahoo to cut more than 300 jobs: San Francisco Chronicle http://www.reuters.com/article/us-yahoo-redundancies-idUSKCN0VR05B

Yahoo to shut down digital magazines http://www.reuters.com/article/us-yahoo-digita-magazines-idUSKCN0VQ2PQ

AmEx to overhaul management, cut jobs http://www.reuters.com/article/us-american-express-restructuring-idUSKCN0VQ2K4

Feb 16, 2016

Daimler Trucks to cut 1,250 jobs in North America http://www.reuters.com/article/us-daimler-trucks-vacancies-idUSKCN0VP17P

Feb 7, 2016

Siemens to slash jobs at energy-related unit: Handelsblatt http://www.reuters.com/article/us-siemens-restructuring-idUSKCN0VG0YJ

Feb 5, 2016

BlackBerry cuts 200 jobs in Ontario and Florida to trim costs http://www.reuters.com/article/us-blackberry-redundancies-idUSKCN0VF009

Feb 4, 2016

U.S. productivity falls sharply in fourth quarter http://www.reuters.com/article/us-usa-economy-productivity-idUSKCN0VD1SO

Rising U.S. layoffs hint at ebbing labor market momentum http://www.reuters.com/article/us-usa-economy-idUSKCN0VD1S8

Ford cuts jobs to sustain European profits as GM lags http://www.reuters.com/article/us-ford-europe-cuts-idUSKCN0VC0XX


Reuters 1 - 12 February 2016 http://forum.prisonplanet.com/index.php?topic=100571.msg1587286#msg1587286

Reuters 12 - 27 february 2016 http://forum.prisonplanet.com/index.php?topic=100571.msg1588992#msg1588992
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #24 on: March 03, 2016, 01:42:19 AM »
Sports Authority files for bankruptcy, to close 140 stores

In 2015, sales at U.S. retailers were the weakest since 2009


March 02, 2015

http://www.infowars.com/sports-authority-files-for-bankruptcy-to-close-140-stores/

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #25 on: March 04, 2016, 01:49:11 AM »
Nabisco workers protest impending layoffs - 600 employees 

March 2, 2016,
by Charles Hayes
 and Julian Crews

CHICAGO -- Nabisco workers on Chicago's Southwest side protest on Wednesday over hundreds of impending layoffs.

Mondelez International plans to layoff 600 employees, and move those jobs to Mexico. 200 Nabisco workers say they have already received pink slips.

For more than a century, Nabisco has produced several popular products, like Oreos.

Negotiations between the union that represents Nabisco workers and Mondelez broke down earlier this week, and the contract has expired.

http://wgntv.com/2016/03/02/nabisco-workers-protest-impending-layoffs/



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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #26 on: March 07, 2016, 09:15:06 PM »
ASIA
Taiwan Jobless Rate Rises For Third Month
Malaysia Jobless Rate Rises In December
Australia Jobless Rate Climbs To 6.0% In January
Australian Unemployment Spikes to 6% as Full-Time Jobs Slump

E.U.
Sweden Jobless Rate At 1-Year High
Sweden Jobless Rate Rises To 7-Month High
Finland Jobless Rate Rises In January
Estonia Q4 Jobless Rate Climbs
Poland Jobless Rate At 8-Month High
French pharmaceutical company Sanofi plans to cut 600 jobs in France over 3 yrs
France’s maker of high-strength steel for the oil sector Vallourec cuts jobs, seeks capital as oil slumps
Portugal Q4 Jobless Rate Rises

U.S.
U.S. Weekly Jobless Claims Climb More Than Expected To 285,000
U.S. Weekly Jobless Claims Rebound To 272,000
Initial Jobless Claims Average Hovers 11-Month Highs
Rising U.S. layoffs Hint At Ebbing Labor Market Momentum
Tax Withholding Paints Real Employment Picture
Welcome To Obama’s Recovery: Carrier Moving 1400 Jobs To Mexico
Starting 2016 With A Bang: Challenger Reports Highest January Layoffs Since 2009
An Alarm Goes Off Threatening The “Strong U.S. Jobs” Myth: Withheld Income Taxes Are Stalling
45% Of Americans Pay No Federal Income Tax with 40% of the working age population out of the workforce and another 10% only holding part-time jobs
Jobless Benefits Claims Soar 100% In Canada’s Dying Oil Patch As Construction Jobs Plunge 84%
Company accused of preying on student loan borrowers files for bankruptcy
Brazil’s 5,500 Bankruptcies in 2015 Signal Deeper Credit Crisis

At least 26,000 U.S. coal mining jobs have been lost in slump
Abengoa unit files for U.S. bankruptcy with up to $10 billion in debt
AmEx to overhaul management, cut jobs
BlackBerry cuts 200 jobs in Ontario and Florida to trim costs
Boeing Plans Layoffs For Airplane Engineers
Boeing Says To Cut Commercial Airplane Jobs To Reduce Costs
Bombardier Thanks Canada For $1 Billion Bailout By Firing 7,000 People
Caterpillar combining two divisions, analysts see more job cuts
Caterpillar, Deere cut 170 more jobs as sales slump
GoPro plans to lay off 7% of its workforce
Daimler Trucks to cut 1,250 jobs in North America
Devon Energy to cut 20% of workers, slash dividend
ConocoPhillips Slashes Dividend, Warns Of “Lower Prices For Longer”; Weatherford Fires 15% Of All Workers
Ford cuts jobs to sustain European profits as GM lags
Ford plans to cut hundreds of jobs in Europe
Halliburton Cuts 5,000 Jobs, 8% Of Workforce
Halliburton to slash 5,000 more jobs amid oil slump
Lexmark says ‘positive interest’ in strategic options as jobs cut
Marissa Mayer plans to cut Yahoo jobs, shutter businesses
Siemens to slash jobs at energy-related unit: Handelsblatt
Yahoo to layoff 15% of workfroce, explore
Yahoo to Pursue Asset Sales, Cut 15% of Staff
Yahoo to cut more than 300 jobs: San Francisco Chronicle
Yahoo revenue expected to fall under $1 billion for first time in 11 years
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #27 on: March 07, 2016, 10:37:03 PM »
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Online Jackson Holly

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Re: The Daily Job Cuts
« Reply #28 on: March 08, 2016, 05:29:37 PM »
  Must Hear Interview - LAURA INGRAHAM w/ABBOT LABS Employee
http://www.breitbart.com/big-government/2016/03/08/outsourced-professional-at-abbott-labs-my-trust-level-in-government-right-now-is-pretty-low/

Outsourced Abbott Labs Employee: ‘Not a Level Playing
Field in This Game Called Globalization’

by CAROLINE MAY   8 Mar 2016

A white-collar professional at Abbott Labs spoke to Laura Ingraham’s radio show to describe the company’s mass layoffs.

“We were notified that we were going to be outsourced,” the Abbott Labs information-tech professional, who is being replaced by foreign labor and declined to be named due to fear of retribution, told Ingraham. The employee explained that management told him: “Our jobs are being basically eliminated,” he said, without revealing his name. “But in reality [we’]re actually being replaced.”

There’s no way that I can compete with somebody outside of the country —
I couldn’t even take less than minimum wage, when you look at the
currencies and what the trade value is, you can obviously see why
they’re picking India.
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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #29 on: March 08, 2016, 05:53:34 PM »
What parts of the world are seeing the weakest performance in their jobs markets?

Here is a ranking of major countries posting the highest unemployment rates over the past month:
http://www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/highest-performance.aspx

01. 24.6 % Greece
02. 24.5 % South Africa
03. 18.5 % Croatia 
04. 12.2 % Portugal
05. 11.5 % Italy
06. 11.0 % Slovakia
07. 10.4 % Turkey
08. 10.4 % Austria
09. 10.3 % Eurozone
10. 10.3 % Poland

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #30 on: March 08, 2016, 10:38:00 PM »
Good article Jackson Holly, thanks for posting it.

Letsbereal, I like the way you've added other countries
to this thread, I had not thought of our International guest readers
at the forum here, I was mainly focusing on the USA job market
but I'll start gleaning more international job loss news for this thread.

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #31 on: March 08, 2016, 10:40:03 PM »
Old Country Buffet, Fire Mountain owner files for bankruptcy again   

March 7, 2016

The owner of Old Country Buffet, Fire Mountain and several other restaurant chains filed for Chapter 11 bankruptcy on Monday, marking the third time in less than a decade that the all-you-can-eat brands have sought protection.

Buffets LLC — the legal entity that owns the restaurants — filed for protection from its creditors in the U.S. Bankruptcy Court in the Western District of Texas, blaming disappointing revenue and a crushing lawsuit that it "apparently overlooked," according to a court filing.

Its brands include Country Buffet, HomeTown Buffet, Ryan's, Ryan's Family Steakhouse, Granny's, Tahoe Joe's, Tahoe Joe's Famous Steakhouse, Soup 'N Salad Unlimited, Roadhouse Grill, J.J. North's Grand Buffet and Ovation Brands.

The company shuttered 166 restaurants, more than half of its locations, over the last several weeks, according to a court document. It cut more than 6,000 jobs when it closed 92 stores in recent days.

The bankruptcy filing gives the company the dubious and relatively rare distinction of entering what restructuring experts jokingly refer to as Chapter 33 — that is, Chapter 11 bankruptcy for a third time.

Buffets had filed for bankruptcy protection in 2008 and 2012, each time shedding debt and shuttering restaurants in an attempt to identify a sustainable path.

A lawyer for Buffets did not immediately respond to a request seeking comment Monday.

The company has about 150 stores with about 9,000 employees in more than 25 states, operated by Hollywood Park, Texas-based restaurant operator FMP SA Management Group through a contractual agreement.

Alamo Ovation acquired Buffets in August but quickly encountered several significant problems. Sales fell 22% below the acquirer's expectations, according to a court filing.

What's more, the company discovered that "prior management" had "apparently overlooked" a 2014 lawsuit regarding an incident that occurred in 2010, according to a court filing. After Buffets lawyers failed to file a timely response to the suit, a judge entered an $11.4 million judgment against the company in October 2015.

Buffets owes $46.2 million in loans secured by all of its assets and guaranteed by its new owners.

http://www.usatoday.com/story/money/2016/03/07/old-country-buffet-fire-mountain-bankruptcy/81434720/
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #32 on: March 09, 2016, 05:55:24 PM »


(This guy's face says it all - Windy Acres )


Bank of America Merrill Lynch is firing traders worldwide

 Business Insider
 03/08/2016
 Matt Turner


Bank of America Merrill Lynch is cutting jobs in its global banking and markets business on Tuesday.

The job cuts have already taken place in Asia, and they are working their way across time zones to Europe and now the US, according to people familiar with the matter.

Arnaud Droitcourt, head of equity trading in Asia Pacific, and Robert Grillo, head of fixed income e-sales, are among those to have left, according to Bloomberg.

A spokesman for Bank of America declined to comment.

Business Insider reported last month that the bank had asked senior executives some weeks ago to draw up a list of positions that could be cut, only to go back and ask for more names.

The cuts are likely to be over 5% of the staff, the people said then

 Read more  -

http://www.businessinsider.com/bank-of-america-merrill-lynch-cutting-trading-jobs-2016-3

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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #33 on: March 10, 2016, 05:10:02 PM »
Speaker Maker Sonos Cuts Jobs as Amazon Steps Up Competition
10 March 2016
, by Mark Milian (Bloomberg)
http://www.bloomberg.com/news/articles/2016-03-10/speaker-maker-sonos-cuts-jobs-as-amazon-steps-up-competition
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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #34 on: March 11, 2016, 03:43:26 PM »
Mar 10, 2016

Colgate extends restructuring program, to cut more jobs http://www.reuters.com/article/us-colgate-restructuring-idUSKCN0WD00U

VW to cut 3,000 office jobs in Germany by end 2017: sources http://www.reuters.com/article/us-volkswagen-redundancies-idUSKCN0WC21Y

Mar 9, 2016

Societe Generale says to cut 550 jobs over five years http://www.reuters.com/article/us-socgen-redundancies-idUSKCN0WB2DN

Siemens to cut oil and gas jobs amid wider hiring http://www.reuters.com/article/us-siemens-employment-idUSKCN0WB1YK

Mar 8, 2016

Lockheed Martin's aeronautics business plans 'voluntary layoff' program http://www.reuters.com/article/us-lockheed-redundancies-idUSKCN0WA2SH

Lockheed Martin to cut 1,000 jobs in U.S http://www.marketwatch.com/story/lockheed-martin-to-cut-1000-jobs-in-us-2016-03-08

RWE-owned Npower to slash 2,400 jobs in U.K. http://www.marketwatch.com/story/rwe-owned-npower-to-slash-2400-jobs-in-uk-2016-03-08

Mar 4, 2016

Workers strike at ArcelorMittal Mexico plant over job cuts http://www.reuters.com/article/us-arcelor-mexico-idUSKCN0W706U

Goldman Sachs cutting up to 10% of fixed income trading staff: source http://www.reuters.com/article/us-goldman-sachs-employment-idUSKCN0W61WQ

Mar 3, 2016

Jobless claims climb 6,000 to 278,000 http://www.marketwatch.com/story/jobless-claims-climb-6000-to-278000-2016-03-03

U.S. jobless claims rise http://www.reuters.com/article/us-usa-economy-jobless-idUSKCN0W51KX

Mar 2, 2016

U.S. retailer Sports Authority files for bankruptcy, seeks buyers http://www.reuters.com/article/us-sportsauthority-bankruptcy-idUSKCN0W416O
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Offline windyacres

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Re: The Daily Job Cuts
« Reply #35 on: March 15, 2016, 02:15:13 AM »
Nordstrom lays off 120 tech staffers amid investment slowdown 


Nordstrom has laid off more than a hundred staffers in its technology operations as the company steps off the investment pedal in the midst of a surprisingly tough retail environment.

A person familiar with the company said 120 employees were laid off this week from the company’s tech department. The move comes in the wake of the recent cutback of 14 managers, the person said. In total the layoffs represented about 7 percent of the tech department’s staff.

Nordstrom spokeswoman Tara Darrow said the company doesn’t expect “any additional reductions” at this time in the tech team. She declined to comment on specific terminations.

Darrow said that the company has been making changes at all levels of its tech organization for the past seven months as a way to ensure its “operating model is best prepared to support our company’s future growth goals and provide us with a competitive advantage moving forward.”

The cuts come as Nordstrom finds itself amid unexpected challenges. The Seattle retailer was until last year a Wall Street favorite because, unlike other big department stores, it started a very successful online business and a growing off-price division.

It also managed to stem the big drop-off in sales seen at rival full-price stores, from Macy’s to JC Penney.

But the troubles ailing the sector caught up with Nordstrom last year, as the company saw an unexpected slowdown in brick-and-mortar sales. That sent shares down 32 percent below their March 2015 peak, and prompted some soul searching inside the company.

Nordstrom, which wants to reach $20 billion in revenue by the end of the decade (up from $14 billion in 2015), has for the past few years invested aggressively in both beefing up its online business and in opening a new market in Canada.

The investment helped add $5 billion to Nordstrom’s top line, said Michael Koppel, the company’s chief financial officer, at a conference with investors on Wednesday.

“All these things have allowed us to create customer-facing experiences and to expand into new markets, but they’ve also put a lot of pressure on our ability to deliver earnings,” he said.

Nordstrom had previously said that its investment ramp-up (which included big tech acquisitions such as The Trunk Club) would peak about 2015 and then start to moderate, rewarding patient investors with a bump in earnings. But the unexpected sales dip in 2015 “has made it more challenging,” Koppel said.

“Everything we’re doing is still resonating from a top-line standpoint, but we need to get better operationally and better figure out how this model is going to work as we go forward to achieve our goals,” he said.

Nordstrom faces another emerging challenge — more competition from Amazon.com, which is betting big on the fashion business. This week the South Lake Union-based giant launched a free daily show geared to fashion shoppers, and it is investing in private label brands for apparel. Cowen, an equity research firm, predicts that Amazon will surpass Macy’s as the top apparel retailer in the U.S. by next year.

“Amazon is a threat. We’ve always said that, ” Koppel acknowledged in response to a question by an analyst. “We’re hypersensitive because they live in our backyard.”

Koppel said that Nordstrom is aware of “a lot ot things” going on inside Amazon. “Based on our understanding, Amazon has grown their apparel business to $10 billion relatively quickly,” he said.

E-commerce still plays a big role in Nordstrom’s future. Koppel said that by 2020 it should represent about a third of its business, up from 21 percent in 2015.

http://www.seattletimes.com/business/retail/nordstrom-lays-off-120-tech-staffers-amid-investment-slowdown/

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Offline windyacres

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Re: The Daily Job Cuts
« Reply #36 on: March 16, 2016, 04:48:03 AM »
Avon Slashes Jobs, Moves HQ to UK   


March 14, 2016 Retail Reuters

Cosmetics maker Avon Products Inc (AVP) said on Monday it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan.

Avon shares were up nearly 4 percent at $4.55 in extended trading.

The company sold most of its North American business to Cerberus Capital, its biggest investor, after four years of falling sales.

Avon said it expected to record $60 million in pre-tax charges related to job cuts in the first quarter.


The company, which has 28,300 employees, said the transition of its headquarters would occur over time.

In January, Avon had outlined plans to cut $350 million in costs over the next three years, invest in technology and tap social media to revive sales.

However, a bigger-than-expected fall in fourth-quarter sales indicated that the company had failed to revive demand for its cosmetics in key markets.

Avon said it would maintain its current facilities in Suffern and Rye, New York and continue to trade on the New York Stock Exchange under its current symbol.


www.foxnews.com





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Online Jackson Holly

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Re: The Daily Job Cuts
« Reply #37 on: March 16, 2016, 07:21:01 AM »
^^^

... sad. Another formerly GREAT American
company moving to a foreign country.

 :(
St. Augustine: “The truth is like a lion; you don't have to defend it.
Let it loose; it will defend itself."

Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #38 on: March 21, 2016, 02:18:54 PM »
38% of Companies to Reduce Employment in 2016, Only 29% Expect Increase: Five Consequences
16 March 2016
, by Mike Shedlock (Mish's Global Economic Trend Analysis)
http://mishtalk.com/2016/03/16/38-of-companies-to-reduce-employment-in-2016-only-29-expect-increase-five-results/
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Offline Letsbereal

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Re: The Daily Job Cuts
« Reply #39 on: March 22, 2016, 09:59:08 AM »
Weatherford International Ltd. plans to reduce headcount by another 6,500 after cutting 14,500 jobs in 2015.

CEO Bernard Duroc-Danner said he sees the North American market bottoming in the second quarter of the year.

FROM: Drilling Rig Suppliers Say Oil Recovery Will Be Slower Than Expected http://www.bloomberg.com/news/articles/2016-03-21/transocean-ceo-sees-no-chance-to-push-up-rig-prices-until-2019
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