MySpace employees are bracing for a massive bloodletting on the verge of a possible sale. The troubled social networking site is expected to see its 1,100-strong workforce shrink to half its current size by the middle of the month. [More]
Yahoo apparently never planned on selling Delicious along with the rest of its under-performing initiatives. Contrary to a leaked slide that indicates Delicious is headed to a “sunset,” along with AltaVista and Buzz, the sunset of Delicious will be one with a possible sunrise to follow. Yahoo wants to sell the site, and it’s ticked at the press for causing people to think any different. [More]
Several hundred Yahoo employees received the opposite of a Christmas present this week, learning the company is letting them go to ease its payroll burden. In addition to shedding 4 percent of its workforce, the shrinking web giant is shutting down AltaVista, Buzz and Delicious — according to an internal company slide. [More]
Johnson & Johnson announced late yesterday that they will lay off most of the employees of the Philadelphia-area factory that produced the controversial musty, stinky pills recalled earlier this year. Staff have been on full pay and benefits since the plant shut down in April, but the controversial (that is: filthy) facility will close down for upgrades until some undefined point in 2011. [More]
Have we learned all we can from Video Professor’s free training discs? (Well, free for 7 days, then $30 every month.) Or did the professor blow all his cash on legal fees in order to bully critics and attack competitors, as techdirt suggests? Either way, the company called all its employees to a meeting last week and gave them an unpaid summer vacation. [More]
Sam’s Club, owned by Walmart, is cutting about 11,200 jobs nationwide in its stores. That’s about ten percent of the chain’s workforce. The part-time employees who currently hand out product samples and perform demonstrations will be replaced with ringers from the outside company that performs the same service in Walmart stores. [More]
CNN profiles a young family living in a Chicago suburb who have decided to carry out an experiment in frugal living—they want to see if they can reduce their expenses enough to get by on about half of what they made before the wife and sole breadwinner was laid off earlier this summer.
Housekeepers at three Hyatt hotels in Boston made over $15 an hour and had benefits like 401(k) retirement plans and health insurance. On August 31st, Hyatt laid them off en masse—after first having them train their replacements under the guise of creating a holiday fill-in staff—and turned the housekeeping duties over to an outside firm.
The number of new unemployment claims filed nationwide was down to only 570,000 last week, but consumer confidence is at a four-month low. Maybe that’s because newsworthy layoffs continue, including Whirlpool announcing that they will cut 1,100 full-time positions in the U.S., located in Evansville, Indiana.
The story of consumer columnist George Gombossy‘s departure from the Hartford Courant has become a “he said”/”company said” argument that seems like something out of a consumer affairs column. Was Gombossy let go for reporting on an advertiser, as he alleges, or was the elimination of his position simply part of the cutbacks taking place all over the Tribune Company?
If you’re worried some financial cataclysm will knock you into a miserable life situation, why not jump the gun and start slumming it to anticipate the meltdown? MSN Money writer Donna Freedman advises such a maneuver, along with other pre-emptive strikes against destitution.
One of the programs of the American Recovery and Reinvestment Act is COBRA Continuation Coverage Assistance. It helps people who have lost their jobs pay the sometimes hefty premiums for continued health insurance coverage, paying 65% of their premium. The program started in February, and Renee was enrolled right away. This month she was billed for her full premium again with no warning.