Under pressure to cut costs, General Electric Company (NYSE:GE) is looking to end production at it locomotive parts plant in Erie, Pennsylvania, a move that will result in the loss of 575 jobs. The century-old factory is a casualty of the sharp downturn in the domestic rail market.
Electronic Classroom of Tomorrow (ECOT), Ohio’s largest online charter school, said it needs to cut spending for the upcoming school year by more than $56.0 million in order to repay $60.0 million in overpayments. This will result in the loss of 250 jobs.
According to a recent report, Alaska’s largest city should expect to see additional job losses through 2018. By the time the current recession is over, Alaska’s economy is expected to shed six percent of all jobs.
Seadrill Ltd (NYSE:SDRL) announced that it has delayed restructuring its $14.0 billion in debt and liabilities until September 12 from a previous deadline of July 31. The offshore drilling contractor also warned that it will most likely file for Chapter 11 bankruptcy protection.
Employees at Seagate Technology PLC (NASDAQ:STX) are in for a rough ride. The Dublin, Ireland-based company announced it was shuffling its management team and jettisoning 600 jobs after reporting disappointing fourth-quarter results.
An undisclosed number of employees at Perceptive Software in Lenexa, Kansas were recently given pink slips following Lexmark International Inc’s sale of its Perceptive Software operations.
Fulton Medical Center, in Fulton, Missouri will be shuttering its doors no later than September 22, a move that will leave the county, which has a population of about 45,000, without any hospital. The closure of the 37-bed hospital will impact 158 employees.
How serious a threat is outsourcing of American jobs? Very. According to a recent study, one quarter of all U.S. jobs and half of all low-skill positions could be outsourced or automated. If this happens, millions of U.S. workers could be out of work in the coming years.
Par-A-Dice Casino in East Peoria, Illinois has announced it is eliminating anywhere from 15 to 20 jobs as revenue continues to decline. Others have been offered jobs within the company. The axed positions making up less than three percent of the casino’s workforce.
The Royal Bank of Scotland Group PLC (RBS) continues to eliminate jobs at its U.S. headquarters in Stamford, Connecticut. The company reported its intention to eliminate 23 jobs to the Connecticut State Labor Department. The pink slips are being handed out to employees in finance, operations, and IT.