The revenue of a company can be affected by a number of factors. Sometimes it’s internal triggers or sometimes it’s external triggers that start the avalanche of job cuts and layoffs.
In the case of Baumann & Sons Buses Inc., an internal strike led to a loss of revenue, which triggered a number of layoffs.
The manufacturing sector is not doing too well either. Honeywell International Inc. (NYSE:HON), a global manufacturer, is facing issues after a reduced demand for uranium after the Fukushima disaster.
The financial sector is seeing some tough times as scandals and improper authorization for online billing have plagued Wells Fargo & Co (NYSE:WFC) to the extent that the business volume in certain business lines has decreased, causing layoffs.
The need to adapt to trending market demands and meet client requirement has prompted law firm Husch Blackwell LLP to lay off about 40 employees.
We have already talked about the retail industry going through bad times due to the online retailers and e-commerce stores coming up. It seems Payless ShoeSource, Inc. is another statistic in the already reeling retail market.
Baumann & Sons Buses has cut its workforce by 134 people, having recently given layoff notices. These bus driver layoffs are affecting employees who were part of a union, working in the Nassau County School District.
The timing of the layoffs is interesting; they were announced only a week after bus drivers returned from a two-week strike that affected more than 20,000 bus routes. Read on to know more.
Wells Fargo & Co is looking to shed about 50 employees as its debit and credit card processing venture undergoes restructuring. The Wells Fargo layoffs are reported to be a result of the company responding to the current business volumes. While the company has stated that it is looking to retain as many employees as possible by finding them other work within the bank, there has yet to be any word on how many will remain with the business. Read more here.
Honeywell International has announced another round of layoffs at its facility in Metropolis, Illinois. The multinational conglomerate said it will be laying off 170 employees and an unnumbered amount of contract workers at its uranium hexafluoride (UF6) processing facility. Find out more here.
Law firm layoffs will affect 40 employees of Husch Blackwell LLP, a law firm with offices in St. Louis, Missouri. The cuts are coming via layoffs and retirements. Read about it here.
Payless ShoeSource is yet another retailer reducing its overall employee headcount. It is estimated that up to 40% of the workforce, or about 200 employees, at the corporate office in Topeka, Kansas will be laid off. Read about it here.