A string of job cuts has hit NBC Sports Chicago this week as the company succumbs to significant “cord-cutting” pressures. Like all major cable TV channels, NBC’s sports network is also losing its subscribers to online streamers. The latest NBC Sports Chicago layoffs reportedly affect 12 employees, including some senior behind-the-camera positions.
About 200 Appvion Layoffs to Result from Consolidation Appleton, Wisconsin-based paper manufacturer Appvion, Inc. has announced plans to consolidate its carbonless paper manufacturing business across two facilities, following which dozens of workers will face layoffs. Appleton is moving its carbonless paper coating operations from its Appleton site to the one in Pennsylvania. The resulting Appvion (more…)
Pacific Drilling Bankruptcy Owed to Industry Slump Houston-based offshore oil and gas drilling company, Pacific Drilling SA (OTCMKTS:PACDF), has filed for Chapter 11 bankruptcy as it looks to restructure its debt. The Pacific Drilling bankruptcy is owed to the oil and gas industry’s ongoing slump. Pacific Drilling has sought bankruptcy protection at the U.S. Bankruptcy (more…)
XCOR Aerospace Files for Chapter 7 Bankruptcy Rocket engine manufacturer XCOR Aerospace, Inc. has filed for Chapter 7 bankruptcy as it exits the aerospace industry for good. The Mojave, California-based company is wrapping up all operations and heading for liquidation. XCOR Aerospace’s bankruptcy underscores the company’s ongoing financial troubles, which were exacerbated after the company failed (more…)
General Electric Company (NYSE:GE) CEO John Flannery’s cost-cutting plan has sent shock waves across the investor community. The multinational conglomerate is slashing its dividend in half and GE stock investors are panicking. But that’s only part of Flannery’s great restructuring plan. Another part includes cutting jobs, with the latest round of layoffs hitting GE subsidiary GE (more…)
Burberry Closing Stores in the U.S. as It Turns Focus to the Ultra-Rich in Asia Shares of the British luxury apparel brand Burberry Group plc (LON:BRBY) took a plunge last week after the company announced a major strategic overhaul. In a bid to “sharpen” its image, Burberry is closing stores in a number of markets (more…)
Employees brace for a major round of Capital One layoffs as the famous lender exits the mortgage origination business for good. The renowned bank holding company Capital One Financial Corp. (NYSE:COF) is wrapping up its mortgage and home equity lending business in Plano, Texas, where hundreds of employees are about to lose their jobs. A (more…)
Additional Microsoft Layoffs at Wilsonville Plant Announced Making good on its promise, software giant Microsoft Corporation (NASDAQ:MSFT) is laying off additional employees at its soon-to-be-closed factory in Wilsonville, Oregon. The latest Microsoft layoffs are an extension of the first string of job cuts, which hit the same factory earlier this year.
Cantrell Drug Co. Bankruptcy Announced After FDA Suspends Drugmaker’s Production Little Rock, Arkansas-based drugmaker Cantrell Drug Company has filed for Chapter 11 bankruptcy after the Food and Drug Administration (FDA) suspended the drugmaker’s right to manufacture and ship drugs. Cantrell Drug Co.’s bankruptcy brings to light its $7.46 million debt load, which the company promises not (more…)
Thousands of Deutsche Bank Job Losses Feared After CEO’s Warning Countless Deutsche Bank AG (ETR:DBK) employees may soon be facing mass job cuts. The CEO of the multinational German bank hinted that thousands of Deutsche Bank job losses could result from automation in coming times.