Citigroup Thrives on Cost-Cutting

Citigroup Inc. (NYSE: C) reported first-quarter results before markets opened Monday. The investment bank and financial services giant reported adjusted diluted earnings per share (EPS) of $1.23 on revenue of ...
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Intel Restructuring Takes Employee National Morale Day to Costa Rica

Intel Corp. (NASDAQ: INTC) is taking our version of Employee National Morale Day south of the United States, to Costa Rica to be precise. Shortly before the closing bell, Intel ...
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network servers

600 Firings at NetApp: More of the Death of Growth

NetApp Inc. (NASDAQ: NTAP) is a former high-flyer in the broad storage sector, but this stock is just now confirming more of a story of the death of growth. This ...
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Will J.P. Morgan Cut 20,000 Jobs?

J.P. Morgan Chase & Co. (NYSE: JPM) already has announced it will cut well over 10,000 jobs, primarily because its mortgage business has slowed. The Financial Times puts already planned ...
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Australian Auto Industry Implodes

General Motors Co. (NYSE: GM) and Ford Motor Co. (NYSE: F) announced last year their intention to end production in Australia. On Monday, Toyota Motor Corp. (NYSE: TM) said that ...
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WMT strike Black Friday 2012

Where Will Retail Industry’s Next Layoffs Be?

Wal-Mart Stores Inc.'s (NYSE: WMT) Sam's Club apparently laid off 2,300 workers. Walmart has more than one million workers in the United States, so the number is relatively small. However, ...
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JC Penney - shops

J.C. Penney Store Closures — Likely Just a Starting Point

J. C. Penney Company Inc. (NYSE: JCP) is raising the white flag of surrender on some  of its operations. Late on Wednesday came word that the struggling department store retail ...
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HP to Cut 34,000 as Prospects Falter — Future Looks No Better

Hewlett-Packard Co. (NYSE: HPQ) filed its 10-K recently. Buried among pages of financial data, descriptions of risks and details about the company's divisions was the disclosure that the HP will ...
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Why Layoffs Can’t Save Martha Stewart

Less than two months after scrap-metal executive Daniel Dienst was tapped to be the new chief executive officer at Martha Stewart Living Omnimedia Inc. (NYSE: MSO), the axe has come ...
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Happy Holidays: Potash Corp. Slashes Jobs

'Tis the season for companies to try to cut the last little bit out of expenses so they can show investors that they can make the tough decisions and get ...
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Outdoor Advertising

Tribune Co. Layoffs Put Pressure on New York Times

Tribune Co. announced 700 layoffs. The company owns a number of television stations, but most of the jobs lost come from the firm's newspaper division. The jobs eliminated show how ...
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Sony Store

In Sony Studio Cuts, Another Sign of Old Media Decline

Various reports claim that Sony Corp. (NYSE: SNE) has hired consulting firm Bain & Co. to find cost cuts at Sony Pictures Entertainment, which may total $100 million annually. Many analysts ...
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Apache Block III Ceremony and First Flight

As Lockheed Martin Lays Off 4,000, Firing at Other Defense Firms Looms

Lockheed Martin Corp. (NYSE: LMT) is the first of the defense contractors to acknowledge how badly it has been gored by the federal government's slowdown in military spending. Its layoff of ...
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HP Employees Don’t Take Stock Problem “Personally”

Hewlett-Packard Co. (NYSE: HPQ) CEO Meg Whitman asked the tech company's employees to take the removal of the firm's stock from the Dow Jones Industrial Average (DJIA) "personally," according to a ...
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Hand plugging ethernet cable into wall socket

Alcatel-Lucent Slimming Down, Fires 10,000 Workers

The market for telecommunications equipment is among the most competitive in the world, and one of its biggest players is trying to get itself into fighting trim. Alcatel-Lucent S.A.(NYSE: ALU) ...
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