Rensselaer Polytechnic Institute cut 98 Jobs

Rensselaer Polytechnic Institute, following through on a previously announced plan, on Tuesday laid off workers as it moved to eliminate 98 jobs.

RPI first said last week it would cut jobs. In an e-mail sent to employees, the school cited the declining economy and fears over its apparently eroding endowment as reasons for the cuts.

On Tuesday, the school released a statement attributed to William Walker, vice president for strategic communications and external relations, confirming cuts had begun and calling them “a prudent step to protect the academic enterprise of Rensselaer. The budget actions we have taken will protect our core mission and enable us to carry out the highest priorities of Rensselaer as a leading technological university,” he said.

RPI on Tuesday declined to say whether most of the cuts had already occurred. It also declined to divulge the number of jobs cut, or what type of positions would be affected.

CBS cut 36 Jobs

Job losses in the media industry continued this week with CBS Corp. (CBS) laying off staff at its CBS Entertainment unit and CBS Paramount Network Television, a production studio.

An internal source said CBS cut fewer than 36 workers. The cuts affected Los Angeles-based workers at the company’s Radford Lot in Studio City and a CBS TV facility in Hollywood. Some programming staffers were also cut in New York.

Sun Media to cut 600 Jobs

Quebecor Inc’s Sun Media newspaper unit said on Tuesday it will cut 600 jobs because of the economic downturn and problems in the print media industry.

The cuts represent 10 percent of the work force of Canada’s biggest newspaper publisher, not counting mail room employees. Sun Media said it expects the move to lead to restructuring costs of about C$14 million ($11.5 million).

Media companies rely on advertising revenue and as the economy slows, many advertisers are expected to trim their spending. This means lower revenue for the media groups.

“The speed at which the current economic environment is deteriorating forces us to make difficult decisions at this time of the year,” Quebecor Chief Executive Pierre Karl Peladeau said in a statement.

Xstrata Plc cut 230 jobs, shut down major coal mining section in Australia

Xstrata Plc has shut down half its coking coal production at a mine in Australia, the latest cutback by miners in the country as a slowdown in global steelmaking slashes demand for coal and other raw materials.

London-listed Xstrata suspended mining of the longwall at its Oaky Creek Number One project in the northeastern state of Queensland, it said in a statement.

Oaky Creek Number One last year yielded 6.2 million tonnes of coal out of a total of 11 million tonnes at the overall complex, Xstrata said.

Midway Games to cut 180 jobs, 25 percent of work force, close Texas studio

Midway Games Inc., maker of the popular “Mortal Kombat” video game series, will cut its head count by 180 people, or 25 percent of its work force, close a studio in Austin, Texas, and halt development of “noncore” games, according to a government filing Tuesday.

Baldor Electric to cut 900 jobs

Baldor Electric Co. said in a regulatory filing that it plans to cut 900 jobs by June 2009 and expects a much tougher environment in the next year.

The company, which makes electric motors, power transmission products, drives and generators, said it sees single-digit decline in recent incoming orders.

RF Micro Devices will cut 150 employees

RF Micro Devices will cut 150 employees from its Greensboro manufacturing operations in the first quarter of 2009, according to a spokesperson.

Doug DeLieto, vice president of investor relations, said employees were notified Friday of the impending job cuts, which are related to a worldwide reduction in demand for the specialized chips the company manufactures for cell phones and other wireless devices.

NFL to cut 150 jobs

I think at this point, it’s reasonably well known that the NFL will soon be laying off 150 employees, or nearly 15% of their workforce. Unfortunately for me, that doesn’t include JaMarcus Russell. Most people assume these cuts are because the NFL is struggling as well during this tough economic climate. However, that’s not the case at all.

In fact, the NFL is doing just as well as it ever has. It’s still highly profitable and even able to do things you wouldn’t expect. Like just recently, despite the current economic state of the country, the league was able to get Under Armour to fork over $4 million to be the official sponsor of the NFL Scouting Combine in Indianapolis in February. That’s roughly $3 million more than Reebok paid to sponsor the combine last year. Tough times indeed.

Now, it’s certainly true that advertising dollars and marketing deals may shrink a bit as the recession worsens, but is it really necessary to cut 150 jobs right now because of that? It really doesn’t seem so.

Newsweek to cut 75 jobs

Newsweek magazine, as expected, told employees Thursday it will cut staff as it adjusts to a weakening financial position and prepares for an overhaul of the magazine early next year that is likely to lead to a downsizing of its 2.6 million circulation.

In a meeting with the weekly’s staff, Ann McDaniel, vice president at parent Washington Post Co., said Newsweek is reopening voluntary buyouts offered in the spring, when the magazine shed 111 jobs. She said the new buyout package isn’t as generous as the previous one and would affect a smaller group of employees but would be open to some who weren’t eligible before.

In a memo sent to employees later in the day, Ms. McDaniel said 65 people will receive the buyout offer and another 10 jobs will be eliminated. All eligible employees will be notified by the end of the day on Friday and they have 45 days to decide whether to take the offer, plus another seven days to change their minds.