(Bloomberg) — Southwest Airlines Co. will seek to cut employee compensation in a last-ditch effort to avoid the first involuntary layoffs in the company’s 49-year history. © Bloomberg A person watches as a Southwest Airlines Co. plane arrives at a gate at the Pittsburgh International Airport (PIT) in Moon Township, […]
layoffs
More layoffs, new CMO at Red Bull following BLM controversy
Red Bull has laid off around 50 people in recent weeks, mostly in its culture marketing teams that oversaw projects tying the energy drink brand to hip-hop music and breakdancing culture. On September 30, Red Bull also named a new CMO, Ken Turner, making him the company’s highest-ranking Black executive. […]
The latest news on layoffs, paycuts at accounting and consulting firms
Professional services firms have been laying off employees and cutting pay as the coronavirus pandemic has hit their business pipelines. Firms have seen clients rein in on spending on consulting and advisory work as economic conditions across industries remain unclear. The question mark over the economy has also led to […]
The Finance 202: Economic relief talks face do-or-die moment as layoffs mount
But Senate Majority Leader Mitch McConnell (R-Ky.) threw cold water on the possibility that a breakthrough could earn support from his members, who remain resistant to a package costing more than $1 trillion. McConnell said the sides remain “very, very far apart.” Pelosi on Wednesday agreed to postpone voting on […]
Coronavirus layoffs send middle-class workers to lower-wage jobs
Californians need income and fast. Thousands of people who weathered the initial storm of pandemic shutdowns have started the hunt for new work. Faced with the most unforgiving job market in recent history, many are turning to the few industries hiring. Often, they’re the ones on the front lines. A record […]
Layoffs Continue And Furloughs Become Permanent Job Losses
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getty It’s troubling to notice that six months into the Covid-19 pandemic, major corporations are continuing to layoff employees and temporary furloughs are turning into permanent job losses. This may be a worrisome sign that companies are concerned about the future and feel the need to reduce staff. This frightening […]
Airbus CEO warns of compulsory layoffs as airline crisis deepens
By Johanna Decorse and Tim Hepher TOULOUSE, France (Reuters) – Airbus <AIR.PA> has stepped up warnings of compulsory layoffs as air travel fails to recover as quickly as expected from the coronavirus crisis, putting itself on a potential collision course with unions and the French government. The warning in a […]
857K workers file jobless claims amid layoffs
CLOSE Here’s why there’s a backlog of claims for unemployment and why it’s only getting worse. USA TODAY Although the nation is partially recovering from its steepest-ever recession amid the COVID-19 pandemic, businesses continue to lay off hundreds of thousands of workers as they grapple with fewer sales and depleted […]