Cisco Systems Inc., the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth.
The cuts include as many as 7,000 jobs that would be eliminated by the end of August. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts.
Barclays Plc will move its Africa headquarters in Dubai back to Johannesburg in a move that may affect 123 employees.
Staff will be given the chance to relocate or leave the bank before the Dubai office closes at the end of the year.
HSBC is planning to lay off up to three percent of its 12,000-strong workforce in the Middle East and North Africa as it seeks to cut costs.
HSBC, one of the largest and oldest international banks in the region, said the layoffs would mostly take place in the bank’s corporate and retail banking business.
The Costa Mesa City Council approved issuing more than 150 layoff notices to city employees.
“This has been coming on for a long time, and we’re coming to a point that’s rock bottom,” Mayor Gary Monahan told the audience, mostly city employees who could face layoffs in six months with the council’s approval.
Allegiant Air’s decision to shift much of its ground operations to a contracted private company will result in the layoff of 168 Las Vegas employees.
Northrop Grumman announced today that it will seek early retirement for 500 Maryland workers, including 430 at the Linthicum and Annapolis plants.
The West Contra Costa Unified School District board has voted to eliminate the equivalent of 138.6 teaching and other credentialed positions for the 2011-12 school year.
The move means that current class maximums at the elementary schools will be retained. They are: 24 at kindergarten, 20 at first and second, 28 at third, and 33 for fourth through sixth grades.
The Texas Department of Criminal Justice’s Institutional Division has been directed to cut 550 jobs in response to the state’s $15 billion budget shortfall.
Almost 4,000 people work in TDCJ-ID Region 6, which is made up of units in Marlin and Gatesville.
La Cañada Flintridge braced for the fallout of what could be 250 layoffs at NASA’s Jet Propulsion Laboratory, brought on by tighter federal spending.
The workers most likely to be affected are those associated with scientific projects that have been delayed due to budget concerns, and those who are part of missions nearing their end and no longer need staffing levels as large as previous years.
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