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.
Health insurance giant Cigna Corp. is using the threat of 500 Delaware layoffs to press a demand that federal policymakers exempt their Claymont-based international insurance business from new rules in last year’s federal health care law.
With more sailors staying in the military amid a slumping economic recovery, the U.S. Navy is taking the unprecedented step of firing midlevel service members to help rein in spending.
The Navy plans to let go of 3,000 sailors with between seven and 14 years of experience after economic uncertainty put the service in the unusual position of having a manpower surplus.
The British Broadcasting Corp. could cut 3,000 staff over the next five years to cut costs amid a freeze in the U.K. licence fee, the Sunday Times reports without citing any sources.
The report said the BBC will submit a 20% budget reduction plan to the BBC Trust in the autumn that will see a sharp cut in its 17,000-strong permanent workforce.
Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans.
The Anchor Bay School District sent 30 layoff notices to instructional staff members last week in response to the $8 million shortfall they were facing.
Declining reimbursement and a need to maintain a solid bond rating has pushed Palomar Pomerado Health to lay off 27 employees despite rising profits, according to two memos provided this week to the North County Times.
Zurich is to cut 243 jobs as part of a restructure of its general insurance business.
Most of the affected roles will be from Zurich’s Cardiff office, as it consolidates the Cardiff property claims team with its other property claims team in Whiteley in Hampshire.
From: Money Marketing
Trim Masters, an automotive supplier specializing in interior trim, plans to lay off 127 employees at its Nicholasville facility beginning Aug. 26.
Larry Carter, vice president of human resources at the plant, said the layoffs are “due to a loss of business at the plant.”
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