Sports network ESPN, owned by Walt Disney Co (NYSE:DIS), is laying off around 150 people as it continues to shift to digital media. John Skipper, president of ESPN, made the announcement to staff on Wednesday. It has been a difficult year for the cable company; the loss of 1.4 million subscribers has cost ESPN millions in revenue. (more…)
Macy’s Inc. (NYSE:M) continues to have a difficult 2017, having announced 100 store closures and thousands of layoffs as the company grapples with the “retail apocalypse.” Macy’s, along with a slew of other retailers and big department store chains, including Nordstrom, Inc. (NYSE:JWN), has been plagued by falling sales and store closures, which can be attributed, in (more…)
Payless to Restructure: Retail Store Layoffs Expected Are more layoffs coming to Payless ShoeSource, Inc.? Having recently emerged from bankruptcy, Payless continues to evaluate its operations and it will, as the company says, take “additional steps.” Employees take this to mean another round of mass layoffs.
Chicago Brauhaus is closing its doors after serving traditional German food and beer for more than 50 years. The German restaurant is closing on December 11, which means loyal fans have only one more month to order the Brauhaus Special, Eisbein mit Sauerkraut, or Hühner Schnitzel and listen to the dulcet tunes of the Brauhaus (more…)
Perfect World Entertainment, a subsidiary of Perfect World Co., Ltd. (ADR) (NASDAQ:PWRD), announced that it has closed Torchlight and Hob studio Runic Games in Seattle and is laying off staff at Gigantic developer Motiga Games. The China-based company isn’t closing Motiga, but it is facing layoffs, with only support staff being left to keep it up (more…)
While the U.S. overall had a steady month in terms of job creation in October, retail layoffs and other industries still shed thousands of jobs, while stagnant wages once again impacted the outlook.
MetLife Inc. (NYSE:MET) filed a Worker Adjustment and Retraining Notification (WARN) notice with the Connecticut Department of Labor, noting that 61 employees at its Bloomfield offices will be losing their jobs. Their last day of work will be December 31, 2017. The layoffs come after the life insurance company swung to a third-quarter loss of (more…)
Jeffersonville, Indiana-based barge builder Jeffboat LLC is cutting a number of jobs as it sees a decline in demand for its barges. The Jeffboat layoffs will affect nearly half of its employees as the barge builder cites low oil prices and low coal production the reasons for the job cuts. Meanwhile, city officials are deeply concerned (more…)
Papa John’s Int’l, Inc. (NASDAQ:PZZA) found and CEO John Schnatter knows who to blame for his company’s disappointing outlook: NFL Commissioner Roger Goodell. Schnatter blamed Goodell for “poor leadership” and said the NFL national anthem controversy has hurt Papa John’s sales and shareholders.
Vistra Energy Corp. (NASDAQ:VST) announced it is acquiring Dynegy Inc (NYSE:DYN) in an all-stock deal valued at $1.74 billion. Debt-laden Dynegy has seen its margins shrink in the face of cheaper electricity prices. The merger of the two Texas-based energy producers will create one of the largest integrated power companies in the U.S., with a (more…)