Lay Off Newswire
07/07/2003 Jobless Rate takes another jump up!

NEW YORK (CNN/Money) - U.S. unemployment rose to its worst level in nine years in June as businesses cut thousands of jobs, the government said Thursday.   Unemployment rose to 6.4 percent from 6.1 percent in May, the Labor Department said. That's the highest level since April 1994. It was also worse than the forecasts of economists, who on average expected a jobless rate of 6.2 percent, according to a Reuters poll.

06/09/2003 Unemployment Rate

Planned job cuts tumble Layoffs announced by U.S. companies sink 53% to the lowest level in 2-1/2 years. June 3, 2003  NEW YORK (CNN/Money) - Layoff announcements by U.S. companies fell in May to their lowest level in 30 months, a research firm said Tuesday, raising a glimmer of hope that the longest labor-market slump since World War II could be nearing an end.

05/09/2003 Job losses continue for 3rd month

WASHINGTON (CBS.MW) -- The U.S. labor market weakened significantly in April, as companies shed jobs for the third straight month while the unemployment rate jumped to 6 percent.   "The report's details ranged from catastrophic to dismal," said Sherry Cooper, chief economist at BMO Nesbitt Burns.  Non-farm payrolls fell by 48,000 in April, on the heels of losses totaling 124,000 in March and 353,000 in February. Along with downward revisions to February and March totaling 12,000, the April decline more or less matched economists' expectations

  Job cuts jump 71% in April

Job cuts catapulted 71 percent between March and April, dashing hopes for an economic recovery.  U.S. employers wiped out 146,399 jobs last month, compared with 85,396 in March, according to Challenger, Gray & Christmas, an outplacement firm based in Chicago. More than a third of April's job cuts came from the public sector. California experienced the biggest loss, with 32,891 jobs disappearing last month, followed by New York with 14,508 and Illinois with 13,662.

02/18/2003 Reuters to cut 3,000 jobs

LONDON, England (CNN) -- Reuters said on Tuesday it would slash 3,000 jobs as it posted a record loss. The new job cuts are part of a three-year plan to revive the fortunes of the world's largest provider of financial information as sagging financial markets force many of its big investment bank clients to cut thousands of jobs globally.

02/10/2003 Jobless rate: Dips to 5.7%LOS ANGELES (CBS.MW) -- As a source of ready labor, the temporary-job market serves as a bellwether for the economy's overall strength and an early indicator of hiring and layoff trends.
02/03/2003 Jan 28, 2003 Lay-off at Imperial SugarThe Imperial Sugar management will begin to lay off most of its employees next week, and the union representing the employees has refused to negotiate its contract. It means the furloughed employees will not receive a severance package, says Imperial CEO Robert Peiser.
  Economy loses 101,000 jobs

January 10, 2003  Economy loses 101,000 jobs Employers again slash payrolls in December, leaving unemployment rate at 8-year high of 6%.  NEW YORK (CNN/Money) - Employers slashed payrolls at a surprisingly aggressive pace in December, the government reported Friday, another sign that the labor market will be slow to recover from the heavy job cutting that followed the recession of 2001.

08/30/2002 New weekly claims for unemployment benefits cross above benchmark 400,000 level again.Jobless claims rise.  August 29, 2002 New weekly claims for unemployment benefits cross above benchmark 400,000 level again. NEW YORK (CNN/Money) - New weekly claims for jobless benefits in the United States rose last week, the government said Thursday, as the labor market's recovery from the loss of more than 1.5 million jobs last year continued to progress slowly.
08/14/2002 Network equipment maker will close factories, exit optoelectronics business.Agere to cut 4,000 jobs, Network equipment maker will close factories, exit optoelectronics business. August 14, 2002: 8:25 AM EDT ALLENTOWN, Pa. (Reuters) - Agere Systems Inc. said Wednesday it plans to cut 4,000 jobs, or more than a third of its work force, and exit the optoelectronics business, which represents 10 percent of its sales.
08/13/2002 IBM in another ROund of LayoffsIBM reported cutting 14,213 jobs, the majority of which fell on its Global Services unit, with some workers also laid off in its servers and software businesses. Another batch of layoffs dismissed 1,400 workers from the company's Microelectronics division, which manufactures semiconductors.
08/12/2002 Unemployment holds steadyThe July unemployment rate held steady at 5.9 percent, but employers added just 6,000 jobs to payrolls in July after adding a revised 66,000 jobs in June, the Labor Department reported. Economists surveyed by Briefing.com had forecast an unemployment rate of 5.9 percent and 60,000 new jobs. The report comes as the labor market struggles to recover from a recession that led to more than 1.5 million job cuts last year.
07/03/2002 Jobless claims dip Jobless claims dip.  Factory orders rise in May, while measure of service-sector activity drops in June. July 3, 2002.  NEW YORK (CNN/Money) - New jobless claims fell in the United States last week, the government said Wednesday, as the labor market continued to show signs of a sluggish recovery in advance of Friday's report on June unemployment.
06/27/2002 Motorola to cut 7,000 jobsMotorola to cut 7,000 jobs.  Wireless equipment maker to take $3.5B in charges; reaffirms 2Q and '02 guidance. June 27, 2002.  NEW YORK (CNN/Money) - Wireless equipment manufacturer Motorola Inc. said Thursday it is cutting another 7,000 jobs as it takes $3.5 billion in charges to restructure its business and write down the value of some of its assets.
  Report: Troubled telecom could slash 16,000 jobs to cut costs, improve performance.WorldCom to cut jobs.  Troubled telecom could slash 16,000 jobs to cut costs, improve performance. June 5, 2002.  NEW YORK (CNN/Money) - WorldCom could slash 20 percent of its work force, or 16,000 jobs, in continuing efforts to cut costs and improve the bottom line at the nation's second-largest telecommunications firm, a newspaper reported Wednesday.
05/16/2002 Honeywell to Lay Off 900 Workers Honeywell to Lay Off 900 Workers Wed May 15, MINNEAPOLIS (AP) - Honeywell International plans to lay off as many as 900 workers as it closes four of its advanced circuits facilities in near Minneapolis, saying an industrywide slump is forcing it to reduce capacity.
05/14/2002 SBC Says It Will Cut 5,000 JobsSBC Says It Will Cut 5,000 Jobs Tue May 14. SAN ANTONIO, Texas (AP) - SBC Communications Inc. said Tuesday that it will slash another 5,000 jobs, or about 2.6 percent of its work force, in the second quarter because the slow economy continues to curb its revenue
05/13/2002 IBM could lay-off as many as 8,000 workers during the current quarterMay 13, 2002 IBM plans to lay off 2.5 percent of its worldwide staff signaling the computer giant facing may be facing tougher times weathering the technology spending slowdown, the Wall Street Journal reported Friday. Citing a person familiar with the situation, the paper said No. 1 computer maker IBM could lay-off as many as 8,000 workers during the current quarter but the cuts would not be across the board. S
05/09/2002 Timber firm cuts 4,400 jobsMay 9, 2002 The Portland-based company said it would cut 4,400 jobs -- slashing its work force from 9,700 to 5,300. The moves would leave the company with 30 North America mills instead of 60.  It is also selling 935,000 acres of timberland in three states -- Idaho, Louisiana and Texas -- and its plywood, industrial panels and lumber businesses.
05/06/2002 U.S. unemployment jumpsRate hits highest in nearly 8 years as economy, struggling out of recession, adds few jobs.
05/04/2002 Tracey Lomrantz, a junior at Lehigh University, holds shows some of her rejection letters from various media outlets Tracey Lomrantz, a junior at Lehigh University, holds shows some of her rejection letters from various media outlets Thursday, April 2, 2002 in Bethlehem, Pa. Faced with a pile of rejection leters from journalism internships she applied for, Lomrantz figures she'll end up waiting tables for the summer. Students who not so long ago, could pick from loads of cushy summer offers are finding this seasons job market the toughest they faced in their young working lives. Many companies have cut summer internships. (AP Photo/Dan Loh)
12/02/2001 graphicNEW YORK (CNN/Money) - With the economy slowing, there was one thing that companies produced in abundance in 2001: unemployed people. Nearly 2 million job cuts were announced. The number of cuts actually made was the largest since the 1990-91 recession. So it came as little surprise that the unemployment rate in December climbed to 5.8 percent from 5.6 percent the month before.
11/14/2001 The Labor Department said the national unemployment rate soared half a percentage point to 5.4 percent The U.S. job market suffered its heaviest blow in more than two decades in October, shedding a staggering 415,000 jobs as the full impact of the devastating Sept. 11 attacks struck an economy already in the early stages of recession, a government report on showed on November 2, 2001. The Labor Department said the national unemployment rate soared half a percentage point to 5.4 percent last month from 4.9 percent in September -- the highest in nearly five years since a matching 5.4 percent rate in December 1996. (Michael Sales/Reuters Graphic)
10/09/2001
Pink Slips By Month
Month # Of Jobs Lost* % Of Annual Total**
August 2001 85,538 13.14%
July 2001 97,333 14.96%
June 2001 65,433 10.05%
May 2001 37,237 5.72%
April 2001 87,319 13.42%
March 2001 105,491 16.21%
February 2001 56,927 8.75%
January 2001 115,484 17.75%
Source: www.forbes.com
10/05/2001 GE unit to cut 4,000 staffGeneral Electric's aircraft engine unit announced Wednesday plans to cut as many as 4,000 employees, or 13 percent of the division's workforce.
  Stride Rite to Lay Off 20 Percent of Workers Because of Retail SlowdownLEXINGTON, Mass. (AP) -- Athletic and casual footwear maker The Stride Rite Corp. is cutting 120 jobs, or 20 percent of its work force, after it reported a 6 percent drop in earnings for the third quarter
10/03/2001 Morgan in job cutsNEW YORK (CNNfn) - Morgan Stanley, one of Wall Street's premier investment banking firms, is set to implement another round of job cuts that would include investment bankers, a source familiar with the situation said on Friday.
  After Compaq acquisition, layoffs may exceed original plan of 10 percent NEW YORK (CNNfn) - More layoffs may be in store for Hewlett-Packard. In a filing with the Securities and Exchange Commission Monday, also posted on the company's internal Web site, HP said more job cuts could come after it completes its acquisition of Compaq Computer
09/28/2001 Praxair cutting 900 jobs on weak economic conditionsDANBURY, Conn, Sept 28 (Reuters) - Specialty chemicals company Praxair Inc. (NYSE:PX - news) on Friday said it is cutting 900 jobs due to continued weak economic conditions and a slowdown in the aviation industry.
  With profit off, Peco's parent will lay off 450 moreExelon Corp. (EXC - news), the Chicago-based parent of Philadelphia's Peco Energy Co., warned yesterday that it would miss its profit projections for the third quarter and would eliminate 450 jobs.
09/27/2001 First Boeing Layoffs Set for Dec. 14SEATTLE (AP) -- Boeing Co. (NYSE:BA - news) will begin laying off commercial airplane workers Dec. 14 and that about 10 percent of the division's work force could be gone by the end of the year.
  Jobless claims jumpNew jobless claims in the United States surged last week to their highest level since 1992, the government said Thursday, an early sign of the economic aftershocks of the Sept. 11 terrorist attacks on New York and Washington. Separately, durable-goods orders for big-ticket items fell 0.3 percent in August, while new home sales rose far less than expected.
  Exelon Earnings Hit by Economy, MarketNEW YORK (Reuters) - Exelon Corp. (NYSE:EXC - news), one of the largest U.S. utility operations, on Thursday cut its 2001 earnings target and said another 450 jobs would be eliminated due to economic and market weakness and volatile energy markets
  ANTWERP, Belgium (AP) -- Photographic products maker Agfa-Gevaert NV said Thursday it plans to lay off 4,000 employees -- 20 percent of its global work force -- under a three-year restructuring program.
09/26/2001 AMD slases 2,300 jobsComputer chip-maker Advanced Micro Devices Inc. said Tuesday, September 25, 2001, it is cutting 2,300 jobs and closing two factories in Texas to cut costs and strengthen its core business.
  Delta to Cut 13,000 Jobs, Reduce ScheduleDelta Air Lines Inc. (NYSE:DAL - news), the No. 3 U.S. airline, on Wednesday said it would cut 13,000 jobs and reduce its flight schedule by 15 percent as a result of the drastic drop in demand for air travel after the Sept. 11 attacks on the United States.
09/07/2001 August jobless rates jumps to 4.9%Jobless Claims Hit Nine-Year High (Associated Press) New claims for state unemployment insurance jumped last week to the highest level in nine years as companies continued to lay off workers.
07/17/2001 The Lay-off Lounge, is a group that holds an event at a bar or club so recently laid-off tech workers can network to seek jobs.
07/14/2001 Old Navy Goes To The Dogs, Sourgrapes.c’mon (Optionetics.com)
... Pets.com! BRILLIANT!Everyone gets a raise after we lay-off 500 workers! Old Navy insists that it is trying to...
- Jul 14 9:30 PM ET
07/12/2001 Jobless Claims Hit Nine-Year High (Associated Press)
New claims for state unemployment insurance jumped last week to the highest level in nine years as companies continued to lay off workers in the face of a struggling economy and the auto industry began its annual plant retoolings
07/10/2001 Getty Images to Lay Off 300 (AP Financial)
Shares in Getty Images Inc. fell 31 percent Tuesday after the company said it will lay off 300 people, or 13 percent of its staff, and reduced its revenue expectations for the second quarter, citing slower business in June.
 
American Power to Cut 700 More Jobs (Associated Press)
...In May, the company announced plans to lay off 200 workers - on top of 300 other layoffs this year....
Compaq To Lay Off 4,000, Meet Expectations (Forbes.com)
The computer maker sees quarterly revenue of $8.4 billion and earnings per share of 4 cents.
07/07/2001 Conexant to lay off 400 workers -- newspaper (Reuters Securities)
Communications microchips maker Conexant Systems Inc.(NasdaqNM: CNXT - news ) will announce on Monday plans to lay off 400 workers, the Los Angeles Times reported on Saturday.
 
07/02/2001 Advanced Switching plunges to all-time low (CNet)
Advanced Switching Communications shares plunged 46 percent Monday after the switch maker warned it will post a wider-than-expected loss in its second quarter and lay off 20 percent of its staff
06/27/2001 VA Linux leaves hardware, lays off workers
International Paper to Cut 3,000 Jobs
Altera to Cut 7 Percent of Jobs As Sales Slow
360networks cuts 44 percent of work force
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