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Miller's Legg Mason Unit to Cut Jobs as Assets Fall (Update1)
By Sree Vidya Bhaktavatsalam
Oct. 30 (Bloomberg) -- Legg Mason Inc. plans to cut about one-third of the jobs at Legg Mason Capital Management, the first layoffs at its investment unit run by Bill Miller, after assets fell by 53 percent this year.
As many as 50 of 147 employees will be dismissed, primarily from research, compliance, legal and operations, Mary Athridge, a spokeswoman for the Baltimore-based fund company, said in an interview today.
bloomberg.com
baltimoresun.com
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Kodak Plans Job Cuts as Sales, Profit Outlook Dims (Update2)
By Courtney Dentch
bloomberg.com
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GM-Chrysler deal to mean big job cuts
Closing of facilities also is expected
In Michigan, up to 25,000 jobs could be cut because of a merger, including up to 10,000 hourly jobs and up to 15,000 white-collar jobs, said Patrick Anderson, chief executive officer of Anderson Economic Group. Outside Michigan, he estimated, up to 15,000 more factory jobs could be cut. He predicted 10 production facilities, including three in Michigan, would be closed.
freep.com
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Lear, Visteon, TRW Cut Jobs As Auto Indus Woes Deepen
October 30, 2008: 12:22 PM EST
John Plant, Chief Executive Officer of TRW, a major supplier of automotive safety systems, which announced plans to cut 1,000 salaried workers and said further restructuring is possible in the fourth quarter. "We continue to work hard to mitigate those challenges as we navigate through this unprecedented time period in the automotive industry."
Visteon, a Ford Motor Co. (F) spinoff that remains among the auto maker's larger suppliers, said Thursday it cut 1,200 hourly positions in the third quarter and plans to trim another 800 white-collar positions. Lear, a big supplier of seating and electrical systems, said Thursday it will make more salaried job cuts and will look at reducing its hourly work force if needed, though it didn't provide specific numbers.
money.cnn.com
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Tenneco to cut jobs at 5 plants in North America
In all, about 500 salaried and 600 hourly workers worldwide will lose their jobs in the new series of cuts. Earlier this year, Tenneco released more than 1,150 of its 21,000 employees in another round of cutbacks.
news.therecord.com
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Whirlpool to cut jobs on weak profit
October 29, 2008
Whirlpool Corp. is eliminating about 5,000 jobs this year and next, due in large part to the long downturn in the U.S. housing market.
chicagotribune.com
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Qwest will cut 1,200 jobs by year's end
bizjournals.com
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Motorola Plans to Cut Jobs
He is expected to detail his plans, which will likely include thousands of layoffs, as early as Thursday when the company reports earnings, the Journal reports. The company has announced 10,000 job cuts since early last year. Motorola declined to comment, the newspaper says.
thestreet.com
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Amex to cut costs and 7,000 jobs
Credit card firm American Express has unveiled plans to cut 10% of its workforce - about 7,000 jobs - and freeze some salaries, to reduce costs
news.bbc.co.uk
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Watts Water to cut jobs, freeze salaries
reuters.com
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Lennox plans to cut 280 jobs in Marshalltown, Iowa
chicagotribune.com
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Gannett to cut jobs in newspaper division
Gannett Co. said it would cut about 10 percent of its staff across its U.S. community publishing division, which includes the Des Moines Register and the Iowa City Press-Citizen, citing the deepening national financial crisis.
desmoinesregister.com
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State may lose 7,200 jobs in finance
Trouble projected to last through '09
By Ross Kerber
Globe Staff / October 30, 2008
Email| Print| Single Page| Yahoo! Buzz| ShareThisText size – + The collapsing stock market and weakening economy will cost the Massachusetts financial services industry 7,200 jobs, or 4 percent of its workforce, through the end of 2009, according to a forecast by Moody's Economy.com.
boston.com
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As Profit Dives, Yahoo Plans To Cut Jobs
with Yahoo announcing a 64 percent drop in profit and plans to cut 1,500 jobs
washingtonpost.com |
