Planned job cuts fell to 50,349 in November, the lowest level in nearly two years. The 9.6% decline from October, according to Challenger, Gray & Christmas, is the fourth month in a row in which layoffs fell. Also, from November 2008 to November 2009, planned reductions plunged 72% from 181,671. November was the worst month of 2008.

Challenger, Gray & Christmas sees companies slowing down the axe-swinging, a trend that has continued through the back half of 2009. Since July 1, 2009, employers have cut an average of 69,252 jobs each month. Through the end of June, the average was 149,446. The aggressive layoff pace in the first two quarters of 2009 have pushed this year's total ahead of 2008, with the year-to-date planned reduction total reaching 1,242,936 last month. That beats the 2008 full-year total of 1,223,993 and tops the November 2008 amount of 1,057,645 by 17.5%.

Continue reading Layoffs slowing down, but that doesn't mean hiring

Layoffs slowing down, but that doesn't mean hiring originally appeared on BloggingStocks on Wed, 02 Dec 2009 09:20:00 EST. Please see our terms for use of feeds.

The mayhem in the media industry continues. The Wall Street Journal, a News Corp (NASDAQ: NWS) property, is closing its Boston bureau and sending nine employees into the wind. The newswire and MarketWatch operations are going to stay open in Boston, however, with no headcount impact.

The Journal doesn't have any plans to close other offices, according to a memo by managing editor Robert Thomson: "there are no plans, nascent or otherwise, to close any other U.S. or international bureau." The WSJ will still support an "investigative function" in Boston, but the New York-based Money and Investing team will cover Boston's mutual fund industry, which boasts such heavy hitters as Fidelity.

At the same time, magazine company Time Inc., owned by Time Warner (NYSE: TWX) is looking to cut $100 million in expenses, and layoffs will undoubtedly figure into the equation. The company that owns Time, Fortune, People and Sports Illustrated - and falls under the same umbrella as AOL, which owns BloggingStocks - is feeling the squeeze of a media recession that's even worse than the regular recession we've all been battling for what feels like decades.

Continue reading Time and WSJ to lay off more

Time and WSJ to lay off more originally appeared on BloggingStocks on Fri, 30 Oct 2009 14:20:00 EST. Please see our terms for use of feeds.

The unemployment rate increased in 23 states in September, with 43 reporting job losses for the month (though not at an accelerating rate). This does signal that we're (hopefully) in the early stages of an economic recovery ... though this can also mean that some job seekers have just given up (and are no longer counted).

Layoffs have slowed down a bit, but companies aren't crazy about taking on new bodies. So far, 600,000 people have dropped out of the hunt. Unemployment now sits at 9.8%.

Continue reading Unemployment up in 23 states, 15 set records

Unemployment up in 23 states, 15 set records originally appeared on BloggingStocks on Thu, 22 Oct 2009 11:00:00 EST. Please see our terms for use of feeds.

Continue reading After announcing job cuts, Macy's announces bonus payments

After announcing job cuts, Macy's announces bonus payments originally appeared on BloggingStocks on Wed, 04 Feb 2009 14:45:00 EST. Please see our terms for use of feeds.

• Conveniently buried in the release, which quickly became the headline, was the 15% job reduction -- or about 7,500 layoffs. The company added that it would look to close 15% of its confectionery factories by 2011 as part of an austerity plan. These steep cuts are expected to save the company up to an estimated GBP300M.
• Also of note, after receiving "expressions of interest," the company said it would most likely sell its American business unit rather than demerge it.

An update on Cadbury originally appeared on BloggingStocks on Tue, 19 Jun 2007 17:00:00 EST. Please see our terms for use of feeds.

I saw the headline and yawned. OK, I'm overstating. But was it a surprise to me -- or anyone -- that AOL is planning big staff cuts in conjunction with the company's much-ballyhoed free AOL email offerings? Hardly. Staff cuts in May were seen as only a small piece of an ongoing puzzle as AOL changes from a dial-up, ISP, customer service-based business to a content-rich advertising-based model.

Sure, 5,000 employees, a quarter of AOL's worldwide workforce, is a lot of people. And no one likes job losses. Except maybe investors, who should be pleased -- customer service isn't cheap and the focus is on cash flow or, as Time Warner likes to call it, OIBDA. Should be, but weren't. Although the stock sank only a few pennies today, to $16.65, TWX was down another 17 cents in after-hours trading on the news.

AOL staff on chopping block: is anyone surprised? originally appeared on BloggingStocks on Thu, 03 Aug 2006 18:24:00 EST. Please see our terms for use of feeds.

Disney will scale back its film production schedule, and the bulk of its pared down offerings will be ten traditional Disney-style films a year -- with just two or three entries under its Touchstone brand. So, more Shaggy Dog less M. Night Shyamalan -- whose new film from Warner, "Lady in the Water," (unrelated to today's Disney announcement) ends a relationship between Disney and the writer/director that generated four straight hits.

Right now, Disney produces about 18 films a year. The cutbacks at Disney will result in the elimination of 650 jobs worldwide.

I found no specifics about where the cuts will come from, but Disney stated that the Disney features unit, Pixar, and Miramax, were among the divisions that weren't going to be affected by cuts. (Reuters).

Among those individuals pushed out already is Nina Jacobson, formerly production head at Walt Disney Pictures, who will be replaced by Oren Aviv, currently chief creative officer at Walt Disney Studios.

Disney cuts production schedule - and jobs originally appeared on BloggingStocks on Tue, 18 Jul 2006 22:45:00 EST. Please see our terms for use of feeds.