Looks like it’s time for Macy’s annual closing of the stores! This time it’s 11 underperforming locations that will be shuttered, and Macy’s says clearance sales will begin at those stores next week. Here’s a list of the stores that will be saying goodbye.
layoffs
Bank of America To Lay Off Over 30,000
By 12.11.08
Bank of America has announced that it will lay off 30,000-35,000 people as a result of its merger with Merrill Lynch and the economic downturn. [MarketWatch] (Thanks, Dariush!)
Credit Card Defaults Hit QVC
By 11.13.08
QVC, the home shopping network, has announced that they will be laying off 910 workers over the next 14 months. A reader who would like to remain anonymous, described the layoff process in an email to Consumerist.
Mother's Cookies Goes Out Of Business, Kills Off Circus Animals
By 10.9.08
If you’re a fan of those pink and white frosted Circus Animal cookies from Mother’s, either stock up or start priming your nostalgia, because this week the company closed its doors abruptly. They’ve cited the expected reasons—the rising cost of raw materials, and an inability to borrow in the frozen credit market.
By 7.2.08
../../../..//2008/07/02/american-airlines-could-be-laying/
American Airlines could be laying off 900 flight attendants. [Dallas News]
Continental Says Airline Industry Is "In A Crisis"
By 6.5.08
Continental will cut 3,000 jobs and reduce capacity by 11% due to the ongoing “crisis” in the airline industry.
By 1.16.08
../../../..//2008/01/16/bank-of-america-will-scale/
Bank of America will “scale back its structured products unit, stop offering collateralized debt obligations and sell the prime brokerage that caters to hedge funds, eliminating 650 jobs.”
By 1.14.08
../../../..//2008/01/14/sprint-is-laying-off-several/
Sprint is laying off several thousand employees, says the Wall Street Journal. Yeah, you know, if there’s one word that always springs to mind when we think of Sprint it’s “overstaffed.” [WSJ]
Macy's Is Closing 9 Stores
By 12.28.07
Well now you’ve done it, shoppers of America: your refusal to spend enough money at Macy’s is forcing the department store chain to shutter nine “underperforming stores in Indiana, Ohio, Louisiana, Oklahoma, Utah and Texas,” reports Reuters. Seriously, what does it take to get you to buy stuff from them? They gave out coupons!
Lillian Vernon Fires Employees Four Days Before Christmas
By 12.27.07
Longtime catalog business Lillian Vernon, famous for its dinky personalized items—and under corporate ownership of one sort or another since 2003—decided to personalize the sensation of being terminated last Thursday, reports the Virginian-Pilot. Although seasonal workers have always been a big part of LV’s holiday workforce, this time around the axe fell on longterm employees who showed up to their normal, year-round jobs that morning. “Lillian Vernon officials declined to comment on the layoffs. Philip Read, a company spokesman, answered his wireless phone Friday and said he was no longer employed by Lillian Vernon as of Thursday.”
CompUSA's Pink Slip Is As Stingy As Their Liquidation Discounts
By 12.13.07
Engadget posted the layoff letter that CompUSA sent out to the people who will be losing their jobs. As you can see, it’s very warm and appreciative of their hard work.
By 12.10.07
../../../..//2007/12/10/washington-mutual-will-lay-off/
Washington Mutual will lay off over 3,000 people. Sub-prime meltdown continues at brisk pace. [Seattle Post-Intelligencer]
ETrade Exits Wholesale Mortgage Business, Warns Investors About Subprime Fallout
By 9.17.07
E*Trade is warning its investors that profits will come in 31% below estimates and that it is exiting the wholesale mortgage business and “streamlining” its direct mortgage operation due to the “disturbance in the credit markets.”
Massive Layoff At Dell Call Center
By 8.2.07
Dell’s Oregon based call center experienced a massive layoff this morning, according to KPIC. All of the employees were herded into a conference room and told that their positions had been eliminated.
Walmart To Lay Off 3,000 Sam's Club Managers In The Name Of Customer Service
By 4.26.07
Walmart is dropping 3,000 Sam’s Club managers. according to an article in the WSJ. The managers, who used to be in charge of specific sections of the store (i.e. bakery, meat, photo). can now choose a severance package, quit, or remain on as hourly workers.
Why Sprint Can't Fire Gary Forsee: A Known Bad Is Better Than An Unknown Worse
By 2.9.07
For Sprint, life with Gary might be bad, but who knows how much worse it could be without him? That’s the rationale keeping the shareholders from replacing the CEO, asserts an internal Sprint source.
Sprint: No Bonuses This Year, Everyone's Gotta Buckle Down, Except For The Executives
By 2.9.07
Sprint employee bonuses this year were reduced to nearly zero, while executive pay remained untouched, according to an inside source. The demoralizing effect of this pay cut undoubtedly contributes to the cellphone company’s substandard customer service.
NWA Scores Awesome Dumpster Dive Find: Shame
By 8.23.06
NPR covered the list of 101 money saving tips Northwest Airlines sent out to its 60 fired employees last week. You know, the one that advised the recently unemployed, “Don’t be shy about pulling something you like out of the trash.”
