Money Matters - Simplified


Kodak to cut 1000 more jobs, announces organizational changes

Under a bankruptcy restructuring plan, the besieged Eastman Kodak Company (EKDKQ.PK) is seeking to eliminate another 1,000 jobs this fiscal year.

Nokia to slash 10,000 jobs

To cope with a tumbling market that is exhausting the company's earnings, Finnish cellphone maker Nokia declared its intentions to cut 10,000 jobs or 19 percent of its workforce by the end of 2013.

Yahoo Layoffs coming Next Week: Report

As a part of their ongoing restructuring strategy, Yahoo will swing the axe on the company’s workforce as early as next week, claims a report on the company’s impending plans.

Yahoo Layoffs Looming On The Horizon?

In an attempt to redirect the stumbling Internet giant and get it back in shape, Yahoo Inc. is preparing a massive series of layoffs, possibly by the end of the month.

Morgan Stanley to slash 1600 jobs

It's going to be a tough new year for many at Morgan Stanley. The Wall Street bank has disclosed plans to cut 1600 jobs in the first three months of the coming year.

Wal-Mart sheds 11,200 jobs at Sam’s Club

Bentonville, Ark. January 25-- The New Year does not spell well for 11,200 employees working at Sam’s Club warehouses of the retailing behemoth Wal-Mart.

Cash-poor CBC to pay managers bonuses

OTTAWA, April 28 -- The chief of the Canadian Broadcasting Corp. says executives will still receive bonuses as the public broadcaster prepares to lay off 800 workers.

Speaking to a parliamentary committee in Ottawa, CBC President Hubert Lacroix said the bonuses were justified because the taxpayer-funded corporation's salaries were below industry standards, and it is "very difficult to keep our senior executives," Sun Media reported.

The CBC has 553 managers who were told this year bonuses were being scaled back 20 percent to 50 percent his year, Lacroix said. That amounted to savings of $4 million, but Lacroix wouldn't divulge how much would be spent on this year's bonus packages.

GM to lay off 1,600 this week

DETROIT, April 20 (UPI) -- U.S. automaker General Motors Corp. said Monday it would cut 1,600 white-collar jobs over the next few days to help it qualify for government assistance.

In an e-mail, GM's North American President Troy Clarke said the automaker was "reinventing every aspect of our business, including our organizational size and structure to create a lean and agile company."

Clarke said the company was going through "very trying times … but especially for those employees directly impacted by these actions," the Kansas City Business Journal reported Monday.

In March, GM commenced laying off 3,400 salaried employees as part of a downsizing of 47,000 positions it expects to conclude by the end of the year.

Recovering from Recession

The present global financial meltdown has just one precedent in history - the Great Depression of the 30s. Crippled economies, dwindling profits and uncertain careers have affected everyone, directly or indirectly.

Mitsubishi UFJ streamlines operations, to cut 1,000 jobs

Tokyo, March 23: Mitsubishi UFJ Financial Group (MUFG), Japan's biggest bank, to cope with a tumbling market that is exhausting the company's earnings, declared its intentions to close 50 branches and cut 1,000 jobs.