Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.
Posted: February 22nd, 2012 | Author: dubaidude | Filed under: By Location, USA | Tags: Archer Daniels Midland Co, BioPlastic, Illinois, Iowa
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Archer Daniels Midland Co. (ADM) said it has cut 335 jobs in Decatur, Illinois.
Out Of the 335 jobs cut in Decatur, where ADM is headquartered, 160 employees accepted an early retirement package, while 175 were laid off.
Posted: February 21st, 2012 | Author: dubaidude | Filed under: By Location, UK | Tags: Salford City Council
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Salford City Council has planned to cut 400 jobs and £24m cut from next year’s budget.
Joe Murphy, who is responsible for the council’s workforce, said: “We have tried our best to avoid compulsory redundancy.
“The people employed by the town hall have had their wages frozen and are facing extra costs and uncertainty.
Posted: February 20th, 2012 | Author: dubaidude | Filed under: By Location, USA | Tags: Chicago, Illinois, Sears
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Sears laid off 100 workers at its headquarters outside of Chicago, two months after the company got a hefty tax credit for dropping a threat to move its headquarters out of state.
Sears Holding Corp. spokesman Chris Brathwaite said the layoffs of “about 100 associates” at the company’s headquarters in Hoffman Estates took effect immediately.
Posted: February 19th, 2012 | Author: dubaidude | Filed under: By Location, New Zealand | Tags: Hawke's Bay District Health Board
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Hawke’s Bay District Health Board’s (HBDHB) has announced 35 staff cuts across all disciplines.
The nurses union said Bay of Plenty District Health Board (BOPDHB) nurses had also been warned job cuts were coming their way.
Posted: February 18th, 2012 | Author: dubaidude | Filed under: Australia, By Location | Tags: Qantas Airways
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Australian airline Qantas Airways plans to axe 500 jobs and cut capital spending by $700 million over two years, after a bitter industrial dispute and high fuel bills halved its first-half profit.
The cuts are designed to protect profitability and an investment grade credit rating at Qantas, which suffers from a higher cost base than its Asian peers.
Posted: February 18th, 2012 | Author: dubaidude | Filed under: By Location, USA | Tags: Philadelphia, Philadelphia Daily News
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PMN, the parent company of The Inquirer, the Philadelphia Daily News, and Philly.com said it would reduce the number of newsroom positions by 37 – through buyouts, it hopes – by the end of March.
Posted: February 17th, 2012 | Author: dubaidude | Filed under: Australia, By Location, New Zealand | Tags: Goodman Fielder
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Goodman Fielder, the Australian breadmaker, has cut 300 jobs – from Australia to New Zealand
The jobs lost so far have been mostly in the baking division in Australia but the company said cuts will extend to New Zealand in the current half year but not to the same extent.
Posted: February 16th, 2012 | Author: dubaidude | Filed under: By Location, USA | Tags: Robins Air Force Base
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Robins Air Force base will cut 800 jobs by April 30, a figure way lower than initial estimate of around 1,140 people.
The cuts will happen through two separate initiatives, one directed by the Air Force’s plans to cut 16,500 civilian jobs and another local initiative that targets the 402nd Maintenance Wing.
Posted: February 13th, 2012 | Author: dubaidude | Filed under: By Location, Denmark | Tags: Danske Bank
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Danske Bank A/S, a leading bank of Denmark, will cut 2,000 jobs in efforts to stay competitive with European rivals.
Danske is struggling to stay competitive as it grapples with the fallout of a burst housing bubble and regional banking crisis at home, while loan losses at its Irish business show scant sign of abating.
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