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Termination

Worried About Cash on Hand, Employers Thin Ranks, Shelve Hiring Plans

October 1, 2008
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The U.S. economy shed more jobs in September than it has in any month in the past seven years, as corporate hiring apparently came to a standstill due to the worsening credit crunch.The largest one-month job loss since 9/11 is put at 231,000.
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New York Economy Will Feel Wall Street’s Pain

September 16, 2008
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Before Lehman Brothers went bankrupt and Merrill Lynch & Co. was forced to sell, the subprime mortgage crisis prompted estimates of Wall Street job losses to soar from 2,000 to 33,000 during the current downtown. Now, those numbers could climb even higher.
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Huge Job Cuts Forecast for Wall Street as Business Slows

September 9, 2008
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Thousands of people on Wall Street may be sacked as the dramatic slowdown in almost every line of business the industry is in triggers cost cuts on a scale far beyond anything seen so far, according to a new report.
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E-mail Blunder Alerts Ad Firm Staff to Major Restructuring

September 3, 2008
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Top HR executive accidentally sends out talking points about upcoming job cuts, offering a rare, uncomfortable look into the preparations for employee layoffs, management informed its rank and file of forthcoming layoffs and other changes.
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Abbott Laboratories Cutting 1,000 Workers

August 21, 2008
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The plan to ‘streamline global manufacturing operations’ will result in $370 million in pre-tax charges over the next several years, including $140 million in the third quarter of this year. Employee-related costs will represent about $110 million of the charges.
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Delphi Will Cut 600 Salaried Positions

August 20, 2008
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Executive says the auto parts supplier is ‘aligning its resources with the dramatic shifts that have occurred in the North American vehicle market.’
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Amid 7,000 Job Cuts, UAL’s Rough Ride Continues

July 23, 2008
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About 5,500 of the airline’s cuts will be among frontline workers and come in addition to 1,500 white-collar layoffs already announced.
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GM to Cut Jobs, Bonuses, Dividends

July 15, 2008
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In addition to an unspecified number of layoffs among salaried workers, GM says it will eliminate health care coverage for U.S. salaried retirees over 65, effective January 1. Those workers will receive a pension increase to help offset losses.
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Dealing With the Employee From Hell

July 15, 2008
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