layoffs

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January Job Cuts Rise 200%

The outplacement firm of Challenger, Gray & Christmas released its job-cuts report for January, indicating that layoffs skyrocketed by more than 200% to their highest level since last summer. The ...
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What to Look for in Friday’s Unemployment and Payrolls Report

If there is one economic report that hits the heart of America, it is the monthly Employment Situation Report from the Bureau of Labor Statistics (BLS). This report is released ...
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BP Posts $5.2 Billion Loss in 2015

BP PLC (NYSE: BP) reported fourth-quarter and full-year 2015 results before markets opened Tuesday. For the quarter, the oil and gas supermajor posted adjusted diluted earnings per American depositary share ...
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Oil Companies to Slash More Jobs

One unintended consequence of the rapid drop in oil prices is that company managements in the sector desperately need to cut costs. Layoffs are usually a means to lower expenses, ...
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The Bleak Texas Energy Jobs Picture in 2016, and the Coming Spillover Elsewhere

The jobs market is all peachy in Texas. At least that is what the monthly reports from the Texas Workforce Commission (TWC) would indicate. What must be kept in mind ...
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Fired Businessman

Schlumberger to Cut 10,000 Jobs

Energy industry layoffs have moved into six figures, a number bolstered by the decision of Schlumberger Ltd. (NYSE: SLB) to cut 10,000 people. The company's financial results made the decision nearly inevitable. ...
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Pump Jacks Against at Dusk

Southwestern Energy Cuts 1,100 Workers

Struggling oil and gas producer Southwestern Energy Co. (NYSE: SWN) said in a filing Thursday with the U.S. Securities and Exchange Commission (SEC) that it has notified employees of a ...
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Johnson & Johnson Plans to Cut Roughly 3,000 Jobs in Medical Devices

Johnson & Johnson (NYSE: JNJ) is looking to save some money over the next few years and as a result it is taking action by restructuring its Medical Devices businesses. ...
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In Walmart Store Closings, Texas Loses Out Far Worse Than California

When big companies announce store closures, it means a loss of jobs, empty store locations, and generally doesn't bode well for the immediate area. So what is the impact when the likes ...
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Fired Businessman

Can Sears Avoid Layoffs? (UPDATED)

Macy's Inc. (NYSE: M) posted horrible holiday results, and management said it would cut over 4,000 people when store employees and management are added together. The retailer forecast the cuts ...
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Fired Businessman

Will DuPont Merger With Dow Chemical Cost 20,000 Jobs?

The Wall Street Journal reported that E.I. du Pont de Nemours and Co. (NYSE: DD), better known as DuPont, and Dow Chemical Co. (NYSE: DOW) may merge. DuPont employs 62,000 people, while ...
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Schlumberger Outlines More Layoffs Ahead of Cameron Merger

Schlumberger Ltd. (NYSE: SLB) is the king of oilfield services. Despite a transformation that already is underway, more layoffs are headed to Schlumberger's workforce. This of course also comes with ...
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Hewlett-Packard Tops 2015 Layoff List With 30,000 Job Cuts

Long after presidential candidate and former Hewlett-Packard CEO Carly Fiorina, who left in 2005, laid off tens of thousands, the tech company continues to downsize. As it reached the final ...
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Sprint to Cut $2.5 Billion, Surrendering in Wireless Wars

Sprint Corp. (NYSE: S), according to a number of media sources, will cut annual expenses by $2.5 billion a year. Presumably the brunt of the restructuring will be layoffs. In ...
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As Profits Wither, Chevron Will Fire People, Cut Capex

Chevron Corp. (NYSE: CVX) reported third-quarter 2015 results before markets opened Friday. The oil and gas supermajor posted diluted earnings per share (EPS) of $1.09 on revenues of $33 billion. ...
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