Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Philadelphia Media Network to cut 37 jobs from the News Room

Posted: February 18th, 2012 | Author: | Filed under: By Location, USA | Tags: , | No Comments »

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.


Philadelphia Nonprofit to cut 132 jobs

Posted: May 7th, 2011 | Author: | Filed under: By Location, USA | Tags: , | No Comments »

A Philadelphia nonprofit serving 3,600 people with disabilities announced that it was laying off 132 employees because of funding cuts from the state.

Liberty Resources Inc., which serves the Philadelphia region and Allentown, already had stopped accepting new clients because of a $13 million shortfall in its $89 million budget, said Thomas Earle, chief executive.


Two contractors have warned they will lay off a total of nearly 230 employees

Posted: March 23rd, 2011 | Author: | Filed under: By Location, USA | Tags: , , , , , , | No Comments »

Two contractors have warned state regulators that they will lay off a total of nearly 230 employees over the next few months.

Northrop Grumman Corp., one of Maryland’s largest employers, said Tuesday that 145 Elkridge-based employees will lose their jobs because the U.S. Postal Service contract they have been working on is ending. The layoffs will start April 26 and conclude at the end of August, said company spokesman David R. Apt.


Philadelphia Newspaper Owner Files For Bankruptcy

Posted: February 23rd, 2009 | Author: | Filed under: Recession News, USA | Tags: , , | No Comments »

The owner of The Philadelphia Inquirer and Philadelphia Daily News filed for bankruptcy protection Sunday in an effort to restructure its debt load.

Philadelphia Newspapers Inc., owned by Philadelphia Media Holdings LLC, is the second newspaper company in two days, and fourth in recent months, to seek bankruptcy protection.