Layoffs in USA: Jan 13th Update

Seagate to lay off 10%
Seagate’s December sales were much worse than feared and the company is expected to respond to revenues falling off a cliff by sending up to ten per cent of its staff after them.

A restructuring could involve the closure of plants to reduce product capacity, reduction in research and development spending, and the loss of up to 5,400 jobs. It is expected to be announced later this month.

Lexmark Lowers Earnings Outlook, Will Cut 375 Jobs
Lexmark International Inc. shares fell as much as 11% Tuesday after the printing and imaging company Tuesday slashed its fourth- quarter earnings forecast and said it would trim nearly 400 jobs due to the effects of a deteriorating global economy.

ING Group to Cut 750 U.S. Jobs
Dutch financial-services company ING Group NV joined a growing number of employers to announce layoffs so far this year, saying it would cut 750 jobs in the U.S., or about 8% of the company's U.S. work force.

Barclays to Cut 2,100 Jobs
Barclays, the British banking giant, said on Tuesday that it would cut 2,100 jobs in its investment banking and wealth management units, a stark sign that the global financial crisis continues to deepen.

The cuts represent 7 percent of the bankers and back-office workers in what was once a big profit center at the bank but has become a drag as banking and investment activity has ground to a halt.

Cummins To Cut 800 'Professional' Jobs By End Of Feb
Cummins Inc. (CMI), following through on a warning of further cost cuts, said it will eliminate at least 800 "professional" jobs by the end of February and is freezing salaries for the year.

Hutchinson Tech sheds 1,380 workers
For Hutchinson Technology and the town that is its namesake, the deepening global recession has gone from bad to worse.

The disk drive parts maker said Monday it is shedding 1,380 workers, or 30 percent of its workforce. Just a month ago, Hutchinson said it expected cuts of 20 to 25 percent, or 1,100.

Mosaic to Lay Off 1,000 People in Saskatchewan
Mosaic Co. (NYSE:MOS), confirmed yesterday it will lay off more than 1,000 workers at its potash mines in Saskatchewan[, Canada] due to slow fertilizer demand, the global credit crisis and growing potash inventories.

The layoffs, which affect about 80% of the total workforce at the two mines, will take effect March 8 at Colonsay and Feb. 15 at Esterhazy. Mosaic employs about 1,500 people in Saskatchewan, including about 250 at its potash mine at Belle Plaine, west of Regina.

500 Best Buy Workers Take Layoff Package
About 500 Best Buy Co. (NYSE: BBY) workers, or about 12.5% of headquarters employees, have agreed to voluntary layoffs, including enough company officers that one Wall Street analyst said the move could create a “slight ‘brain drain’” at the consumer-electronics retailer.

Best Buy has 160,000 employees worldwide, but only corporate employees were presented with a voluntary separation package. Employees have until Friday to revoke their requests to participate, so the final number could change, Busch said.

California IT Layoffs Continue in 2009, may be linked to lawsuits
United Employees Law Group’s attorney Walter Haines suspects a correlation between California layoffs and California class action lawsuits regarding California meals and breaks and the failure to pay California overtime. “With an increase in the California unemployment rate in the computer sector, California IT layoffs are inspiring software employees to become more aware of California labor laws. Many are finding they may be entitled to back California overtime pay. If entitled these employees can go back and collect their overtime pay for up to four years, even if they do not have record of the hours they worked.”

United Employees Law Group, PC, continues to file California overtime pay class action lawsuits against some of the nation’s largest computer companies.

Mount Carmel announces 300 job cuts
Mount Carmel Health System said it will eliminate 300 positions from its payroll. The cuts include an unspecified number of layoffs.

Other Articles:
Answers to some questions from people laid off (Article by SanFrancisco Chronicle

10 things to do (or not do) if you're laid off