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Downsizing

Wall Streets Job Losses Looking Smaller Than Feared

November 20, 2009
A rebound on Wall Street—where every job creates two more across New York City’s five boroughs—may result in smaller-than-forecast job losses throughout the city. Some 47,000 securities jobs were predicted to disappear during the recession, but a rapid improvement in the industry means losses ‘are unlikely to exceed 35,000.’
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PBGC Deficit Nearly Doubles to $22 Billion

November 16, 2009
Hammered by huge losses and lower interest rate assumptions, the Pension Benefit Guaranty Corp.’s deficit in fiscal 2009 nearly doubled, jumping to $22 billion from $11.2 billion in 2008.
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Short-Term Workforce Planning

October 28, 2009
HumanConcepts is one company offering short-term or operational workforce planning software. In the scenario shown here using HumanConcepts’ OrgPlus Enterprise software, fictitious senior vice president Glen Finley needs to reduce his workforce cost from $5.4 million to $5 million.
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N.Y. Mayor Says Job Losses in City Not as Bad as Expected

October 22, 2009
The city has lost about 116,000 jobs since the financial crisis struck a year ago and now faces a $5 billion budget deficit. But Mayor Michael Bloomberg, who is seeking a third term in office, said job losses were expected to be closer to 220,000.
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