Layoffs Mount in 2010: What Does It Mean for 2011?

NEW YORK ( TheStreet) -- The job market did not witness the same recovery the overall economy did in 2010, and remains the biggest wildcard to continued improvements in 2011.

The year started with the national jobless rate at a whopping 10%. That number tapered a bit, dropping to 9.5% midway through 2010, before rising again to 9.8% in November.

While those who have jobs are more confident that they will keep receiving a paycheck, there doesn't seem to be much of a reprieve for those still unemployed.

What has seen growth within the labor market is temporary hiring, which has increased across all sectors, not just among retailers beefing up their staff for the holiday season.

It shouldn't come as a surprise that businesses handed out pink sheets at a steady rate throughout the year, as companies looked to cut costs and create more efficient operating models. And while a chunk of excess fat has effectively been cut at most companies, layoffs are expected to continue at the same pace.

Overall, most economists don't foresee any significant boost in hiring until well into 2011.

Here's a look at companies that laid off workers in 2010. Here, then, is a look at those corporations that have laid off workers since the beginning of the year.

Northrop Grumman

Defense contractor Northrop Grumman ( NOC) said on Dec. 17 that it will eliminate 120 positions in New York due to lack of new orders.

The layoffs will come at its Amherst Systems business unit near Buffalo at the end of February.

Northrop Grumman has been announcing job cuts steadily throughout the year. In November, it said it is laying off 318 salaried workers at its Newport News, Va., shipbuilding facility.

Earlier in the year it handed out pink slips to 642 workers at its Pascagoula, Miss., 95 at its Tallulah, La. shipyard, and 110 at its Avondale, La., shipyard.

Quad Graphics

Quad Graphics ( QUAD) warned New York-employees on Dec. 17 that it will be reducing its workforce by 20% in early 2011.

The printing company will layoff about 95 workers at its Buffalo facility starting Jan. 3. The work being done at this plant will be moved to other parts of the country to improve efficiency.

The news comes after Quad Graphics said in November that it will shutter its Fredericksburg, Va., facility in January, which will result in about 300 layoffs.

"Today's announcement is part of our ongoing plan to integrate operations following our acquisition of Worldcolor, and will further strengthen the efficiency and competitiveness of our manufacturing platform," said Joel Quadracci, Chairman, President & CEO, at the time of the announcement. "We have a clear vision for the future of our company and are moving aggressively to implement plans that will benefit our customers and drive value for our shareholders."


After announcing it will eliminate about 600 employees, Yahoo ( YHOO) reportedly will also shutter some of its online services.

Yahoo announced on Dec. 14 that it will cut about 4% of its workforce. Then, on Dec. 17, a list began circulating on the Internet outlining sites that are in danger. Reportedly included on the list are Yahoo's content-sharing site Delicious and search site AltaVista.

Last year Yahoo eliminated about 700 workers on top of 1,400 layoffs back in 2008.

General Motors

General Motors ( GM) is offering buyouts to several thousand skilled trade workers, according to reports.

The auto maker could be looking to eliminate up to 3,000 workers, the Wall Street Journal reported. GM is said to be offering these employees $60,000 to leave the company by March.

General Motors spokesman Chris Lee told the Associated Press the company estimates it has 2,000 more skilled workers than it needs.

According to GM's Web site, the company has roughly 209,000 employees worldwide. Its U.S. workforce is 79,000 with a breakdown of 26,000 salaried workers and 53,000 hourly workers.

C.R. Bard

Medical device maker C.R. Bard ( BCR) is looking to improve its overall cost structure and operational effectiveness, which will result in layoffs.

The company did not disclose how many positions it would eliminate, but said positions would be terminated worldwide in its manufacturing, sales and administrative functions.

As a result of the restructure, C.R. Bard expects to incur a pre-tax charge of $20 million in the fourth quarter. The overhaul is expected to be completed by the end of 2011.


TJX said on Dec. 10 that it is slashing 4,400 jobs as it consolidates its A.J. Wright business.

The off-price retailer said it will convert 91 A.J. Wright stores into T.J. Maxx, Marshalls or HomeGoods stores and close the remaining 71 stores, two distribution centers and its home office.

The A.J. Wright stores will close between late January and mid-February.

A majority of the layoffs are part-time employees. According to the company, these associates will have the opportunity to be compensated at least through the holiday season and most will remain on board until January.

TJX expects the consolidation to improve profitability and focus on its other divisions. It expects to incur costs of $250 to $280 million as a result of the restructuring, which would reduce net income by $150 to $170 million, or by 38 cents to 43 cents a share.

Management expects to benefit by $25 million to $30 million annually, once the consolidation is complete.


Sunoco ( SUN) announced today that it will eliminate 175 positions at four of its facilities in Delaware and Pennsylvania.

The layoffs will be spread among salaried personnel throughout the first quarter of 2011.

Last week the company announced the sale of its Toledo, Ohio, refinery, Toledo Refining, a subsidiary of PBF. It also said it will separate SunCoke Energy.

Sunoco has about 4,000 employees in the Delaware Valley region.

West Pharmaceuticals

West Pharmaceuticals ( WST) said on Dec. 7 that it is shuttering a Pennsylvania facility and cutting 320 jobs.

Aside from closing the Montgomery, Pa. facility, which will begin in January, the company is also downsizing operations at its facility in St. Austell, Cornwall, U.K.

"The changing landscapes in the health care and consumer markets we serve require that we regularly evaluate our operations and adapt to changing conditions in order to successfully compete," Chairman and CEO Donald E. Morel Jr., said in a statement. "The plans announced today will reduce the manufacturing capacity devoted to product lines that no longer support sustainable, competitive operations, and will unfortunately result in the loss of a number of jobs over time."

West Pharmaceuticals will incur restructuring costs between $18 million and $21 million, but the move will save $12 million annually.


Life insurer Aegon ( AEG) said on Dec. 2 that it will eliminate up to 500 jobs in the U.S.

These layoffs, which will occur over the next two years, amount to about 5% of Aegon's U.S. workforce. The cuts come as Aegon winds down it executive benefit plans and bank or company-owned life insurance businesses.

The majority of the cuts will come from Dallas, Texas the company said.

As a result of the layoffs Aegon will incur charges of about $80 million, as well as a write-off of goodwill and intangible assets of $210 million.


FedEx ( FDX) said on Nov. 30 that it will eliminate 300 jobs as it shutters its shipping terminal in southwest Ohio.

The layoffs will occur in January when it closes its National LTL facility. Those who are losing their jobs have been notified.

In September, FedEx said it will slash 1,700 jobs as it deals with a decline in its trucking business.

At the time FedEx said it will combine its FedEx Freight and FedEx National less-than-truckload, which take goods from many manufacturers and consolidates them into one truck for delivery.

Apollo Group

Apollo Group ( APOL) confirmed on Dec. 1 that it is laying off 700 employees at its University of Phoenix facilities.

The for-profit education company said most of the cuts will be admission personnel.

"These staffing reductions are intended to better align our operations with these business decisions," according to the prepared statement. "We are working closely with all impacted individuals to provide a fair and competitive transition package."

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As a result of the restructuring, Apollo expects to incur charges of $5 million in the current quarter that ended on Nov. 30. It also expects to realize related employee compensation expense reductions of $8 million per quarter.

State Street

State Street ( STT) announced on Nov. 30 that it plans to layoff 5% of its workforce.

The job cuts will amount to about 1,400 eliminations, with the first round starting in December. The financial firm plans to complete most of the restructure by the end of 2011.

The affected employees will receive "appropriate separation packages including outplacement services," State Street said.

The company expects to save between $575 million and $625 million annually by the end of 2014 as a result of the layoffs.

Other aspects of the restructure include investments to improve technology and business processes and taking steps to lower real estate occupancy costs, such as early buy-outs and lease terminations.

Novartis AG

Novartis AG ( NVS) said on Nov. 30 that it plans to eliminate 1,400 jobs at its U.S. general-medicines unit in an effort to boost efficiency.

These job cuts will be effective on Jan. 1.

The restructuring will cost about $85 million. The company did not specify how much it will save as a result of the layoffs.

Lockheed Martin

Defense company Lockheed Martin ( LMT) will eliminate or move 1,000 employees, as it plans to shutter its Minnesota plant by 2013.

The company said 650 of the Minnesota jobs would move to Owego, N.Y., San Diego, and Manassas, Va. The layoffs and transfers will begin in the first three months of 2011.

The restructuring is expected to save Lockheed about $150 million over 10 years.

Earlier in the year Lockheed Martin informed 472 employees, including some managerial positions, that they would be laid off.

ING Group, N.V.

Insurer ING Group, N.V. ( ING) announced on Nov. 12 that it plans to layoff 400 workers by the end of the year.

Those employees losing their jobs, which includes insurance and retirement products, will be notified by Friday.

As part of the layoffs, there will be a rearrangement of management effective January. Tom McInerney, chief operating officer, will leave the company as a result.

The move constitutes part of ING's ongoing goal to reduce administrative expenses as it readies itself for a U.S.-focused initial public offering.


Defense contractor Raytheon ( RTN) confirmed layoffs on Nov. 9.

The Massachusetts-based company did not disclose how many jobs it would eliminate.

The announcement came following the election of Massachusetts Gov. Deval Patrick, who reportedly asked Raytheon to delay announcing layoffs until after the election. Patrick denied these claims, according to the Associated Press.

This follows a prior round of layoffs made in April, when the company handed out pink slips to 225 salaried workers, according to reports. This was the first mass layoff at Raytheon since 2002.

It's worth noting Raytheon has made hundreds of hires over the past several years.


Biotechnology company Genzyme ( GENZ) started the first phase of layoffs in its plan to eliminate 1,000 employees on Nov. 5.

The company cut 352 positions this week, with plans to layoff another 650 workers by the ends of the year. The layoffs exclude jobs in its genetic testing and diagnostic products and pharmaceutical intermediates business units.

As a result of the restructure, Genzyme expects to incur charges between $24 million and $27 million in its fourth quarter.

This is part of a larger plan Genzyme announced last year to reduce costs and propell efficiency.


Biogen Idec ( BIIB) said on Nov. 3 that it will cut its workforce by 13%, as it looks to improve efficiency.

The biotechnology company expects the approximately 650 layoffs will result in annual savings of about $300 million. It its planning for charges of $115 million, including $70 million in the fourth quarter.

Biogen will combine its business development, venture development and corporate strategy divisions into a new "Corporate Development Group." The company is currently searching for a head of the new division.

Biogen's eastern Massachusetts operations will be consolidated at existing Cambridge and Weston facilities.


CVS ( CVS) said on Oct. 28 that it will cut 300 positions in customer support and other operations in an effort to reduce costs.

Layoffs will occur across the country, but the majority of customer support positions are located in Woonsocket, R.I., the Associated Press reported. The eliminations do not include store staff.

Electronic Arts

Electronic Arts ( ERTS) has begun its third year of seasonal layoffs, according to reports.

Joystiq, a video game blog, confirmed the reports, which surfaced on Twitter, with the company.

"As you know, seasonal roll-offs that follow game launches are common and vital to maintaining a healthy business," Jeff Brown, a spokesperson for Electronic Arts, explained to Joystiq. "Because so many of our games ship in the holiday quarter, the team size adjustments tend to follow in the same timeframe. However, EA is growing and several of our studios are looking to hire talented people."

The company did not reveal how many workers would be let go.

Borgata Hotel & Casino

Atlantic City's major casino, Borgata, said on Oct. 26 that it is cutting its workforce by 3%.

The resort-casino, which Boyd Gaming ( BYD) holds a 50% stake, did not specify how many jobs would be lost.

According to report, the Borgata employs about 6,685 workers, which would mean a 3% cut would amount to about 200 layoffs.

This comes as MGM Resorts ( MGM), which co-owns the Borgats with Boyd, said earlier in the month that it received a bid for its stake. MGM did not disclose the name of the bidder, but said the offer amounted to about $250 million.


Nokia ( NOK) announced on Oct. 21 that it will slash its workforce by 1,800.

This comes as the company looks to restructure its lagging smart phone business. The job cuts will come from its Symbian smart phone unit.

The layoffs are one of the first significant moves from new chief executive officer Stephen Elop.

Nokia had about 132,000 employees at the end of September.


Xerox ( XRX) said on Oct. 21 that it plans to cut more costs by eliminating 2,500 jobs.

These layoffs, which will occur over the next year, represent about 2% of the company's total workforce, and are in addition to 2,500 positions Xerox previously said it would eliminate in January.

Xerox is now planning for $400 million in restructuring charges, up from a prior forecast of $280 million.


IBM ( IBM) announced on Oct. 20 that it will cut 190 manufacturing jobs in Ireland, moving production to China.

IBM has about 3,000 employees in Ireland. The 190 layoffs will come from its main facility in Mulhuddart, west Dublin, and will be completed by March. The company expects to rehire some workers for new jobs at its software services division in Ireland.

Earlier this year, IBM began seeking 310 voluntary resignations from senior staff in Ireland. It also announced plans to hire 200 workers for a new development center for urban-planning software.


Avon ( AVP) announced on Oct. 15 that it will shutter a plant in Ohio, resulting in about 400 layoffs.

Production that was taking place in the Cincinnati plant will be moved to other facilities in Illinois, Mexico and China, as well as a contract manufacturer in New Jersey.

Layoffs are expected to start in December and should be completed by mid-2012.

The closure of this plant is part of Avon's restructuring that is announced last year.

KB Home

KB Home ( KBH) said on Oct. 14 that it will eliminate 66 jobs in Denver as it consolidates two regional accounting centers into one.

The company said it will shift operations in Denver to a center in Phoenix over the next three to four months.

Some of the Denver employees will be offered jobs in the Phoenix office, but did not reveal how many positions will be made available.

"The decision to consolidate our accounting centers allows us to better manage our costs and streamline our operations without sacrificing quality or customer service," said Jeff Kaminski, KB Home's chief financial officer.

KB's Denver homebuilding operations are not included in this consolidation.


Insurance conglomorate Aon ( AON) will cut between 1,500 to 1,800 jobs over the next three years, the company revealed on Oct. 14.

This comes two weeks after its closed on its $4.9 billion acquisition of Hewitt Associates, a human resources firm. Hewitt has about 36,000 employees, and the layoffs will trim the staff by about 4% to 5%.

Aon expects to save $355 a year as a result of the restructure, with $280 million coming from eliminating jobs. The company plans to incur $325 million in costs related to the restructure.

Lloyds Banking

Lloyds Banking ( LYG) announced on Oct. 13 that it will slash 4,500 jobs by 2012.

The bank will eliminate 1,600 full-time jobs, 1,150 temporary and contract positions and 1,750 offshore contractor jobs in its IT division.

Lloyds Banking has laid off 20,000 jobs since the takeover of Halifax/Bank of Scotland in January 2009. Lloyds had about 106,500 employees in the middle of the year.

Halozyme Therapeutics

Biopharmaceutical company Halozyme Therapeutics ( HALO) announced on Oct. 12 that it will slash 25% of its workforce as it refocuses its business.

The company will move away from research relating to the discovery and preclinical assessment of new compounds, and will instead look at its core business involving the study of the potential insulin Ultrafast. It will also focus on its partnerships with Roche and Baxter.

Halozyme did not say exactly how many employees would be let go.


Drugmaker Sanofi-Aventis ( SNY) announced on Oct. 8 that it is slashing 1,700 jobs in its U.S. pharmacy business.

The figure represents about 25% of its U.S. pharmacy business. Sanofi-Aventis will finalize which employees will be let go by December.


Telephone landline provider Windstream ( WIN) announced on Oct. 7 that it will cut 146 jobs in Newton, Iowa, as part of its restructuring in the state.

This comes after Windstream completed its acquisition of Iowa Telecommunications Services back in June. In total, the company will eliminate 220 jobs.

The majority of the layoffs, which will come from network operations, information technology and finance, will occur by the end of the year, and the rest by early 2011.

Those employees who receive a pink slip can apply for other positions within the company.


Saks ( SKS) said on Oct. 5 that it will close two more underperforming stores, resulting in 55 layoffs.

The high-end department store will shutter its Saks Fifth Avenue store in Southampton, N.Y., on Saturday and its Saks Fifth Avenue Off 5th location in The Legends at Sparks Marina in Reno/Sparks, Nev. on Jan. 1, 2011.

The employees from both stores will have the opportunity to transfer to another Saks location or be offered a compensation package.

Saks has been evaluating its store base and eliminating unprofitable locations. In August, the company announced the closure of two other stores, which resulted in 125 layoffs.

Sikorsky Aircraft

Sikorsky Aircraft, a subsidary of United Technologies ( UTX), announced on Oct. 2 that it is cutting about 1% of its workforce.

The move comes as Sikorsky grapples with a slump in demand for commercial helicopters due to the choppy global economy.

The layoffs will include salary workers only. While the company did not say specifically how many jobs will be eliminated, 1% of its more than 20,000 workforce, is about 200 employees.

Paramount Pictures

Paramount Pictures, which is owned by Viacom ( VIA), said on Sept. 30 that it is laying off 53 people, mostly in Los Angeles.

The move is expected to save the company, which is currently battling a decline in DVD sales, about $10 million. Paramount is discontinuing its direct-to-home-video team under Paramount Digital Entertainment, which produces made-for-Internet videos.

In June, Paramount reported a 10% drop in revenue to $1.25 billion, but did manage to reverse last year's lost by cutting costs by releasing fewer movies.

Principal Financial

Insurance and financial firm Principal Financial ( PFG) said it is discontinuing its health insurance business. The restructure will result in 150 layoffs.

The company's health insurance arm currently employs 1,500 workers, many of whom will be considered for other jobs within Principal.

Principal has agreed to have UnitedHealthcare renew medical insurance coverage for its customers as they come up over the next 36 months.

Bank of America

Bank of America ( BAC) is laying off up to 30 proprietary traders due to regulations that put restrictions on that form of trading, according to reports.

These layoffs, which will occur in New York, London, Hong Kong, and other cities, comprise about one-third of Bank of America's proprietary team.

The restrictions are part of the Volcker rule, which was put into place this summer, and Bank of America joins a growing list of financial firms paring down their prop desks.

J.M. Smucker

J.M. Smucker ( SJM) announced on Sept. 28 that it plans on shuttering two plants in Canada, resulting in 150 layoffs.

The plants in Dunnville, Ontario, and Delhi Township, Ontario, produce pickles and condiments, shifting work of these products to other facilities. Smucker plans on closing these plants in November 2011.

The company expects the move will save $8 million annually.

These cuts come on top of an announcement made in March that Smucker will cut 700 jobs by 2012 as it consolidates its business. The layoffs will come from the closure of two Folgers coffee plants and two jam plants.

Bristol-Myers Squibb

Drug maker Bristol-Myers Squibb ( BMY) said on Sept. 23 that it plans on slashing 840 jobs, or 3% of its workforce.

These jobs will be eliminated over the next six months and will occur across all of its businesses and geographical locations.

This follows two prior rounds of layoffs in 2008 and 2007, where workforce was cut from 41,000 to 28,000. Bristol-Myers Squibb, like most drugmakers over the past few years, has been attempting to streamline operations by laying off employees and outsourcing manufacturing and patient studies.

Alnylam Pharmaceuticals

Alnylam Pharmaceuticals ( ALNY) will layoff about 25% to 30% of its workforce after Novartis ( NVS) said it was ending its partnership with the company.

The layoffs will cost Alnylam, an RNA drug developer, about $3 million, most of which will be charged in the third quarter. But the cuts will help generate about $25 million in savings next year.

Abbott Laboratories

Abbott Laboratories ( ABT) said on Sept. 21 that it plans to slash 3,000 jobs, or 3% of its workforce, after purchasing Solvay's pharmaceutical business.

The layoffs will occur over the next two years, and a majority will come from Solvay's business. This will include cuts from research and development, commercial, manufacturing and other staff functions.

Abbott will also shutter the former U.S. headquarters of Solvay's pharmaceuticals unit in Marietta, Georgia, by the end of 2011. It will also eliminate about 500 jobs in Weesp, Netherlands, and 300 in Hannover, Germany.

As a result of the restructuring, the company expects to incur pre-tax charges of about $810 million to $970 million over the next two years. Abbott also foresees one-time costs of about $135 million in the second half of this year and $175 million next year related to integrating Solvay.

Rite Aid

Rite Aid ( RAD) said on Sept. 17 that it will shutter its Rome, N.Y. distribution center, which will result in about 400 layoffs.

The distribution center will close by July 2011, with layoffs beginning in January. Union officials are negotiating severance pay based on seniority.

The workers will have the chance to apply for about 60 jobs that are available at a distribution center in Syracuse. Others could be transferred to warehouses along the East coast.


FedEx ( FDX) said on Sept. 15 that it will cut 1,700 jobs to combat a decline in its U.S. trucking business.

The announcement came after the company reported that profit doubled in the first quarter, and upped its outlook. But any strength is really coming out of FedEx's air shipping business.

FedEx will combine its FedEx Freight and FedEx National less-than-truckload, which take goods from many manufacturers and consolidate them into one truck for delivery. The combination of the groups will occur on Jan. 30, and will result in the closure of 100 facilities and 1,700 layoffs.

FedEx said this move will allow its trucking business to return to profitability by next year.

Sara Lee

Sara Lee ( SLE) said on Sept. 14 that it is cutting 390 jobs in Europe over the next several years after the sale of its household and body care business.

The company previously sold its Ambi Pure air freshener business to Procter & Gamble ( PG), as well as its stake in a joint venture in India that makes insecticides. It also agreed to sell its body care business to Unilever and its remaining insecticide business to SC Johnson.

Sara Lee expects the layoffs to save about $39 million.

Men's Wearhouse

Men's Wearhouse ( MW) plans on shuttering its Fife, Washington tuxedo distribution center, which will result in 42 layoffs, according to the Puget Sound Business Journal.

This comes after Men's Wearhouse said last month that it will stop distributing tuxedos at four of its 11 U.S. locations that it uses for tuxedo distribution. The operations at these four facilities will be assumed by other tuxedo distribution facilities, allowing the company to more effectively manage its business.

The company is expecting costs of about $4 million in fiscal 2011 as a result of the closures.

The layoffs at the Fife site will be effective on Nov. 12, according to Puget Sound Business Journal.


FormFactor ( FORM), which makes semiconductor testing equipment, said on Sept. 14 that it will halt its plan to move manufacturing operations from California to Singapore, and will lay off 70 workers in Singapore.

The company did not provide many details about why it is delaying moving to Singapore.

FormFactor has been grappling with declining sales, and in its second quarter reported a loss of $33.9 million.


Harley-Davidson ( HOG) workers are gathering in Wisconsin to vote on a labor contract that if passed, could result in layoffs, as well as other concessions.

The deal would freeze pay, slash hundreds of jobs, and give more work to nonunion employees.

But regardless of whether or not the deal is passed or rejected, it looks like layoffs are looming at the motorcycle maker. The company said if the proposal is rejected, it would move production out of Wisconsin, which would results in about 1,350 job cuts.


Boeing ( BA) is consolidating its military aircraft business and cutting workers as a result.

The company said on Sept. 7 that it will consolidate six divisions into four and slash jobs, starting with 10% of the group's executives. Boeing did not reveal how many more layoffs will follow.

In July, Boeing warned that layoffs were likely to hit its defense business due to government budget cuts. And earlier in the year, Boeing announced that it had sent out more than 1,000 layoff notices. The majority of the employees laid off were technology workers in Washington state and California.

Those layoffs were part of 10,000 jobs cuts that Boeing originally planned for 2009. When Boeing did not complete the layoffs last year, its management announced that it would finish the job of laying off the workers in 2010 -- and might ultimately lay off more workers than the original 10,000 that were projected.


German industrial conglomerate Siemens ( SI) announced on Sept. 4 that it is shuttering a distribution center in Ohio, which will result in 88 layoffs.

The closure of the distribution center will be completed by January, as the company looks to reduce the number of distribution centers in the state to speed up shipments to customers. Layoffs will begin in November.

Earlier in the year, Siemens announced that it is eliminating 4,200 jobs worldwide in its information technology unit. The layoffs will all be complete by the end of 2011. The IT business currently employees 35,000 workers.

About half of those job cuts will come from Germany.

The company "will exhaust all possibilities for voluntary measures," and will immediately open consultations with employee representatives, Siemens said at the time.

General Dynamics

General Dynamics Robotics Systems ( GD) announced on Sept. 2 that it will lay off 132 workers at its Westminster, Md., site in 60 days unless it received funding for a program it is working on for the U.S. Army.

The company said its Autonomous Navigation System is out of funding, and it will pay workers for the next 60 days. If the program is not funded by then, the workers will be laid off.

The Westminster facility currently employees 350 workers. Back in May it slashed 80 full-time jobs and 10 contract positions and laid off another 31 workers in July.

Royal Bank of Scotland

Royal Bank of Scotland ( RBS) announced on Sept. 2 that it would cut 3,500 jobs in its back-office operations across the U.K., as it continues to shrink its businesses.

This follows 9,000 layoffs in the same division last year, as well as 2,000 cuts back in May in its insurance and retail-banking divisions.

RBS has been shrinking ever since it took bailout money from the British government in October 2008. It now must shutter its insurance unit by 2013 in order to meet European Union conditions on state aid. Part of its retail network is also up for sale.

RBS has recently agreed to sell 318 U.K. branches to Spain's Banco Santander SA under European Union requirements.

The company has already eliminated about 23,000 jobs since 2008.

A. Schulman

Platics maker A. Schulman said on Sept. 1 that it is cutting 30 jobs at its Wales facility and moving part of the plant to two other locations in Europe.

The company said it is streamlining operations at the Crumlin, South Wales, plant and utlizing higher-capacity lines in Bornem, Belgium, and Givet, France.

Schulman expects to incur charges of $600,000 related to the layoffs, but expects an annual beneft of about $800,000 to $1 million from the layoffs and moves.

J.P. Morgan

It looks like J.P. Morgan ( JPM) is shutting down all of its proprietary trading desks, which will result in batches of layoffs. The move, of course, comes on the heels of new regulations in the FinReg intended to limit the risk-taking of banks.

According to reports, the financial firm told commodities traders to look for other jobs. It will later wind down the prop trading desks for fixed-income and equities.

Traders who are affected will have the opportunity to apply for other jobs within the company.

Sonus Networks

Sonus Networks ( SONS), a maker of Internet network hardware and software, said on Aug. 25 that it plans to lay off 12 employees as a result of closing its offices in Ottawa, Canada and Darmstadt, Germany and relocating its Freehold, N.J., facility.

This is about 1% of the company's total workforce. Sonus expects to save between $2 million to $2.3 million from the cuts. It also plans to incur charges of about $3.5 million to $4 million in the second-half of the year from lease terminations, severance and other related costs.


Insurance firm Assurant ( AIZ) announced on Aug. 19 that it will cut an unspecified number of employees as it prepares for changes in the sector due to health care reform.

The layoffs will come from various locations, including its headquarters for Assurant Health in Milwaukee. The layoffs are expected to be complete by mid-January.

Assurant said it expects to incur costs of $5.5 million in its third quarter and another $1.3 million in the fourth quarter, as a result of the layoffs.


Appliance maker Whirlpool ( WHR) announced on Aug. 16 that it will lay off more workers at its refrigerator plant in Fort Smith, Ark.

The company did not reveal how many cuts it would make, but did say the layoffs would begin in October after production of counter-depth refrigerators ends.

Employees were notified of the cuts late last year and seasonal layoffs will follow in November, when demand typically weakens.

Earlier in the year, Whirlpool said it was closing its plant in Michigan, which resulted in 216 job cuts. Whirlpool discontinued the production of components made at the plant and is making its newer laundry products at a plant in Ohio. The Michigan plant will shutter by the end of 2010 or early 2011.

Whirlpool employs about 67,000 people around the world.

Energy Conversion Devices

Solar company Energy Conversion Devices ( ENER) announced on Aug. 11 that it plans to cut 140 jobs at its Auburn Hills, Mich., facility, shifting some of these jobs to Tiajuana.

Last year the company, which makes building-integrated photovoltaics, or BIPVs, which are designed to be built into buildings in the form of shingles or windows,already eliminated 25% of its workforce last year due to dwindling demand. But many of these laid off employees have since been rehired.

Energy Conversion has been in the red over the past year.


Barclays ( BCS) may be looking to lay off several hundred employees, according to reports.

The company plans to eliminate about 400 people as early as Wednesday, the New York Times reported. This comes after Barclays expanded its investment-banking unit two years ago with the purchase of Lehman Brother's North American operations.

Over the past year, Barclays has increased its head count by several thousand, currently employing 25,500 workers.


Medical technology company CareFusion ( CFN) announced on Aug. 10 that it will slash 700 jobs, as it looks to cut costs.

The company expects the layoffs will result in a savings of more than $100 million annually.

The job cuts will affect employees from CareFusion's global workforce, but the company did not reveal specifics.

This news came after CareFusion reported better-than-expected fourth-quarter earnings.


Toyota ( TM) announced on Aug. 10 that it is laying off 600 contract workers in its Japanese factories, anticipating a falloff in sales next month when incentives for green cars expires.

The Japanese government provided incentives for those purchasing fuel-efficient cars, which has made Toyota's Prius gasoline-electric hybrid a top seller over the past 15 months. But these incentives are set to expire next month.

Contract workers are hired under different terms than other employees, making it easier to eliminated positions. After their 35-month contract expires, they either get cut or become regular employees.

Toyota employs 320,000 people around the world, with 70,000 of those coming from Japan.

Cypress Bioscience

Cypress Bioscience ( CYPB) announced on Aug. 4 that it will layoff 86% of its workforce, as it discontinues its personalized medicine services business.

The restructuring will result in 123 layoffs, which will allow Cypress to save about $10 million annually. The company is looking for a buyer of its medicine services business.

The news comes as Cypress is reviewing a buyout offer from Ramius. Ramius offered to buy the company for $4-per-share, which represented a 60% premium to the stock at the time.


Borders ( BGP) said on Aug. 3 that it will layoff another 100 workers at its La Vergne distribution facility.

The job cuts come on top of 120 jobs already eliminated at the facility earlier this year.

This is Borders' fourth round of layoffs. On June 10, it cut an undisclosed number of jobs at its British stationery and gift business, Paperchase and also eliminated its corporate-level merchandising positions.

Borders has been struggling to remain relevant as shoppers flock to discounters like Amazon ( AMZN) and Wal-Mart ( WMT) to purchase books. The company also faces increasing pressure from electronic readers and Apple's ( AAPL) new iPad.

Earlier in the year, the company said it planned to lay off 164 corporate employees, or 10% of its corporate staff.


Ford ( F) will layoff nearly 500 employees at its Ontario engine plant, according to the Canadian Autoworkers Union.

The auto maker is closing down one shift at the Windsor Engine Annex starting Nov. 1 as part of a plan announced earlier this year, resulting in 489 job cuts.

About 150 of these workers will be offered jobs at Ford's plant in Essex, Ontario.

Stanley Black & Decker

Stanley Black & Decker ( SWK) said on July 28 that it will eliminate 80 jobs as it shutters its distribution center in Jackson, Tenn.

The center will be closed by April 1, and layoffs may start as soon as October.

Black & Decker operates two more centers in Jackson, which employs more than 500 workers.


Winn-Dixie Stores ( WINN) announced on July 27 that it will shutter 30 underperforming stores and lay off more than 120 employees.

The grocery said it will eliminate an unspecified number of positions at the closing stores, and also cut 120 corporate and field support staff. The store closures are expected to be completed by the end of the first quarter, which ends on Sept. 22.

The restructuring should save Winn-Dixie between $12 million and $17 million annually, starting in the first quarter.

United Technologies

United Technologies ( UTX) plans on slashing another 1,500 jobs through 2011, after already eliminating 900 positions in the first half of the year.

The company, which owns jet engine manufacturer Pratt & Whitney, Otis elevator and Sikorsky Aircraft, amond other business, said on July 26 that the restructuring will cost $121 million in 2010.

United Technologies announced 11,600 jobs at the end of 2009.

Applied Materials

Applied Materials ( AMAT) announced on July 21 that it will eliminate up to 500 jobs at its energy and environmental division in an effort to make it profitable.

The company, which provides technology used by solar panel and semiconductor manufacturers, will incur a charge of 18 to 21 cents a share in its third quarter as a result of the layoffs. The entire restructuring is expected to cost between $375 million and $425 million.

Applied Materials said it will halt sales to new customers of its SunFab fully integrated lines for making thin film solar panels. Instead it will focus on its crystalline silicon solar business and other opportunities in advanced energy technologies.

The company said anyone who was laid off as a result of the restructure can apply to other areas of the company.

Johnson & Johnson

Johnson & Johnson ( JNJ) announced on July 15 that it is shuttering the plant in Pennsylvania that made Tylenol and other consumer medicines that were recalled for an unknown period of time. As a result, it is eliminating between 300 and 400 of the factory's employees.

Johnson & Johnson said it will make a significant investment in the manufacturing facilities, equipment and laboratories at its plant in Fort Washington, Pennsylvania. The plant, which is operated by its McNeil Consumer Healthcare unit, shut down in April.

"McNeil looks forward to the FDA's review of the plan and to working with the agency moving forward," the company said in a statement. "McNeil is committed to taking whatever steps are necessary to improve quality and earn consumers' trust."

The employees have received their salary and benefits, and will continue to do so through at least mid-September. Those receiving pink slips will then be offered a severance package.

McNeil is in the process of looking to use other Johnson & Johnson plants to produce the 40 or so products made at the Pennsylvania plant.


Drug maker Adolor ( ADLR) announced on July 15 that it plans to cut 30 employees, after sales of its drug Entereg, a treatment following abdominal surgery, fell short of expectations.

The layoffs represent about a quarter of Adolor's workforce. Adolor ended 2009 with about 140 employees.

The company expects to incur $2 million in charges in its third quarter as a result of the layoffs.

Adolor said the cuts should leave it with enough money to stay in operation through 2012.

The drug maker previously slashed 45 jobs in 2009.

Wells Fargo

Wells Fargo ( WFC) announced on July 7 that it will slash 3,800 jobs as closes its unit that specializes in subprime mortgages.

The company will close 638 Wells Fargo Financial stores, consolidate its consumer-finance division and get out of the business of making non-prime portfolio mortgages and auto and credit-card loans.

The layoffs represent 27% of Wells Fargo Financial's 14,000 employees. The company says 2,800 positions will be eliminated in the next two months, and another 1,000 positions will be cut within the next year.

As a result of the layoffs, Well Fargo will get hit with a 2-cent charge in the second quarter.


Playboy ( PLA) announced on July 6 that it recently completed a round of layoffs, which included the elimination of the corporate controller post.

Michael S. Dannhauser, senior vice president and corporate controller, was among those let go. Christoph Pachler, executive vice president and chief financial officer, will serve as Playboy's principal accounting officer, the company said.

Playboy did not announce how many employees were laid off in this round of cuts. The company said the restructuring will result in a charge of about $3 million in its second quarter.


Vehicle-security company LoJack ( LOJN) said on June 25 that it is eliminating 46 jobs at its headquarters in Westwood, Mass. and on its sales team.

The layoffs will result in a $1.8 million charge for the company in its second quarter. But LoJack expects the moves to save $3.5 million this year and $6.8 million annually beginning in 2011.


RealNetworks ( RNWK), which is best known for launching Rhapsody music service and RealPlayer, said on June 22 that it slashed 85 jobs, including a quarter of its executive team.

This comes as the company attempts to overhaul the business, consolidating its technology products, solutions and media software and services business units, amidst declining revenue.

As a result of the layoffs, RealNetworks expects to incur charges of $10 million.

Graphic Packaging

Paperboard packaging maker Graphic Packaging ( GPK) said on June 18 that it will shutter a plant in Colorado that will result in the displacement of 138 employees.

Graphic Packaging will retain 12 of the research and development jobs from the plant, while the remaining 138 workers will be considered for positions in other facilities.

The plant is scheduled to close on Oct. 31.

Graphic Packaging employees about 13,000 people around the world.

Wynn Resorts

Casino operator Wynn Resorts ( WYNN) is cutting 261 jobs, or 3% of its workforce, according to reports.

The company said that workers voiced support for layoffs rather than wage and hour reductions. The layoffs will now allow Wynn to restore 2,300 hourly workers to full-time positions, as well as up the wages for 1,400 employees who were forced to take a 15% pay cut.

The restoration of these hours and wages will result in $7.7 million in costs for the company. Without the layoffs, Wynn said it would have cost almost $10 million.

Myriad Pharmacueticals

Myriad Pharmacueticals ( MYRX) said on June 8 that it will cut 21 jobs and end its HIV drug program as it looks for ways to cut costs.

The layoffs will occur at Myriad's commercial operations division and affect two officers.

Over the past year, Myriad has already eliminated 30 positions.


Oracle ( ORCL) announced on June 4 that it is cutting more jobs as part of its integration of Sun Microsystems.

Most of the cuts will affect employees in Asia and Europe, the software giant said. But Oracle did not specify how many people it will lay off.

The latest round of job cuts will cost Oracle between $675 million and $825 million.


Hershey ( HSY) will potentially eliminate up to 600 positions as it looks to modernize and restructure some of its plants.

The chocolate maker is looking into modernizing and expanding one of its Pennsylvania plants and turning another into an office building.

The Hershey plan is part of a tentative agreement with union negotiators and must be approved by a majority of the approximately 1,600 members who work at both factories. A vote is scheduled for Friday.


Hewlett-Packard ( HPQ) announced on June 1 that it will slash 9,000 jobs over several years as it moves to implement fully automated commercial data centers.

The computer giant expects to incur about $1 billion in charges as a result of the restructuring. Once it is completed, however, Hewlett-Packard expects to save between $500 million and $700 million annually.

Reynolds American

Cigarette maker Reynolds American ( RAI) announced on May 28 that it will shutter two factories, which will result in the elimination of 60 jobs.

One of the factories is located in its headquarters in Winston-Salem, N.C. and the other is in Puerto Rico. This comes as Reynolds, which makes brands like Camel and Pall Mall, grapples with a decline in demand for cigarettes.

Still, Reynolds plans to expand its smokeless tobacco processing and manufacturing capacity at facilities in Memphis and Clarksville, Tenn.

Lawson Software

Lawson Software ( LWSN) said on May 28 that it will cut between 150 and 200 jobs as part of its restructuring program.

This is less than 5% of its total staff. The layoffs will mostly come from its its M3 enterprise management software operations in Europe, U.S. and Philippines.

Lawson expects the layoffs to result in a charge of $5 million to $7 million in the fourth quarter. The company said it could not estimate how much it will save annually from the cuts.

Alliant Techsystems

ATK Space Systems, a unit of Alliant Techsystems ( ATK), said on May 24 that it is cutting more jobs as it phases out its space shuttle program.

This round of layoffs eliminated 247 jobs due to the end of a Minuteman ballistic missile program. Since October ATK has laid off about 1,500 engineers, technicians, factory workers and others, leaving about 3,000 employees.

H&R Block

H&R Block ( HRB) said on May 19 that it will cut 400 jobs throughout the company.

The goal is to reduce annual expenses by as much as $150 million. The company, which expects to realize these savings by the end of 2012, will incur a $28 million charge in severance and other costs in its first quarter.

H&R Block also plans to shutter 400 of its underperforming tax offices. The stores targeted for closure represent about 4% of the company's 11,000 locations.


Drug maker Pfizer ( PFE)announced on May 18 that it will slash 6,000 jobs as it shutters eight plants around the world.

These closures will occur in Ireland, Puerto Rico and the U.S. by the end of 2015. It will also reduce operations at six other plants over the next several years.

Pfizer said back in April that it will eliminate 20,000 jobs as part of its integration of Wyeth, which it acquired last year.

Last week it also revealed that it may relocate some of its New York employees to Pennsylvania and New Jersey, resulting in job losses. At the time Pfizer said it is putting a New York office building up for sale, but that its headquarters will remain in Manhattan.

The company operates 78 plants internationally and employees about 116,000 people.


OfficeMax ( OMX) said on May 7 that it is closing one of its call centers, which will result in 250 layoffs.

The facility will close on July 30, the company said. The call center, which is located in Casper, Ill., is one of four that handle customer inquires. The other three facilities will remain open.

Frontier Oil

Frontier Oil ( FTO) announced on May 4 that it laid off 12 more employees at its Cheyenne refinery.

The cuts come as demand for transportation fuel weakens and costs for heavy crude oil increase.

Previously the company laid of 28 workers at the same refinery. It now employees 290 people.


Utility company Ameren ( AEE) announced on May 3 that it will eliminate 75 workers at several power plants and support service facilities in Illinois and Missouri.

Layoffs will hit both managerial and union-represented workers. This is not the first round of staff reductions for Ameren, as the company chopped 135 jobs last year.

Ameren expects the most recent cuts to result in a savings of $20 million in 2010.

Las Vegas Sands Las Vegas Sands ( LVS) announced on April 30 that it is laying off 80 workers at its Bethlehem resort in Pennsylvania.

The cuts will be across the board, but more will come from its food and beverage department. The layoffs will bring Sands' total staff at the resort down to 780 from 860.

Sands Bethlehem had nearly 1,000 employees when it opened its doors last May.

Still, this comes at a time when the casino will be adding table games, which Sands' hopes will boost business at the Pennsylvania location. It is also working on building a 300-room hotel. These new initiatives will require Sands to hire as many as 400 employees at the casino going forward.

ABC News ABC News , a unit of Walt Disney ( DIS), said on April 28 that it is laying off 28 employees at its ABC news station, and losing more to buyouts.

The news station previously sent out a note in February to employees announcing a restructuring plan that will lead to massive job cuts by the end of the year.

The memo did not specify how many jobs would be lost, but noted that it could be as high as 25% of the 1,400 staffers.

On Wednesday, ABC News said more people than expected took the buyouts, lessening the need for layoffs.

Sallie Mae

Sallie Mae ( SLM) said on April 22 that it is cutting 2,500 workers as a result of a new law that strips banks outs of the federal student loans business.

The largest student lender will let go of 1,200 staffers in service staffers in Killeen, Texas and City, Fla. by the end of the year, while the remaining positions will be eliminated in 2011.

As part of the health care reform signed by President Barack Obama, the middleman in the student loan services has been taken away from banks. This means Sallie Mae, which wrote $7.7 billion in federal student loans during the first quarter, will have to drastically reshape its business.

Hormel Foods

Hormel Foods ( HRL) said on April 20 that it will shutter a plant in California later this year, resulting in 163 job cuts.

The plant produces its Valley Fresh canned meats. The company said it will move production of to another facility.

Hormel expects the closure of the plant to result in a one-time charge of 5 cents a share in the second quarter.

American Electric Power

American Electric Power ( AEP) is looking to cut its workforce by as much as 10% and offered buyouts to 22,000 employees, the company said on April 15.

Workers will have until the end of the month to decide whether or not to accept the offer. If not enough accept, AEP said it will resort to layoffs.

AEP has been hurt amid the recession, with sales falling 6% in 2009, as demand for electricity dropped.

Dominion Resources

Dominion Resources ( D) announced on April 14 that about 1,400 employees, or 8% of its workforce, have accepted its buyout offer.

Last month, the energy provider announced it was offering buyouts to about 4,800 workers and expected about 1,000 to accept the voluntary severance package. Those who accepted the offer began leaving on April 1.

The company has not yet figured out how much it will save from the cuts. Dominion employees about 17,000 workers in 14 states.

Walt Disney

Walt Disney ( DIS) announced on April 14 that it will close its Lyric Street Records studio, which produces country group Rascal Flats, resulting in about 20 to 25 layoffs.

Disney will move Rascal Flats to one of its other labels. The company said it is searching for alternative ways to market its artists as the music business evolves.

Last month Disney also revealed that it was shuttering one of its San Francisco facilities, cutting 450 jobs.

The Marin County facility, which was used for the making of A Christmas Carol, will close by January.

Before it closes, the facility will be used in the production of Mars Needs Moms!, a 3-D movie that will be released in March 2011.

Pilgrim's Pride

Chicken producer Pilgrim's Pride ( PPC) said on April 12 that it is closing corporate offices in Texas and Georgia that will result in 213 job cuts.

The move comes as Pilgrim's Pride consolidates with JBS USA, who purchased the company out of bankruptcy last year. The purchase made JBS the largest meat producer.

Pilgrim's Pride said the layoffs will not affect its chicken production.


Steel maker Timken ( TKR) said on April 9 that it will close an Ohio plant and lay off 57 workers.

The announcement comes as little surprise, as the plant has been in jeopardy of shuttering since 2004.

Many of the employees have been on layoff since the fall. Timken said some could be placed in other positions.


Business software maker CA ( CA) announced April 6 that it is slashing 1,000 jobs and closing an unspecified number of facilities as part of its cost-cutting plan.

The 1,000 employees represent about 8% of its workforce. The jobs cuts will result in about $50 million in pre-tax charges, with $47 million going towards severance payments and the rest for the shuttering of facilities.

The charges will weigh on full-year results, and CA expects earnings to come in at the low-end of guidance.

The restructuring should be nearly completed by the end of the second quarter, which ends in October.


Bigg's grocery store, which is owned by SuperValu ( SVU), will cut 547 jobs in Ohio and Kentucky, the company said on April 2.

The layoffs, 436 of which will be in southwest Ohio and 111 in northern Kentucky, will come at the end of May.

Last month, Supervalu also announced the elimination of 967 workers at its Shaw's Supermarkets in Connecticut ,as it plans to sell all its locations in the state. Those layoffs will take effect on April 13.

Some stores will be taken over by the ShopRite chain, others will become Stop & Shop stores, and one will become a Price Rite store. ShopRite and Stop & Shop have expressed interest in rehiring Shaw's workers as they reopen the stores.

At least 267 of the laid off workers, however, will have nowhere to go after the stores are shuttered.


Medical equipment supplier Hill-Rom ( HRC), announced on March 31 that it will cut 160 jobs, or about 3% of its staff.

The reductions will result in a charge of $4 million to $5 million in the second quarter, but Hill-Rom expects to save $16 million annually.

"The organizational changes we are announcing today will reduce our operating costs, simplify our business structure, improve processes and increase the accountability of our customer-facing employees to focus more closely on our customer needs," CEO John J. Greisch said in a statement.

Last year, the company eliminated 300 positions as it looked to cut costs.


CommScope ( CTV)also announced layoffs on March 31, in CommScope's case that it will shutter its Omaha manufacturing plant next year, resulting in about 400 job cuts.

The plant manufactures parts used in cable networks. Those operations will be relocated to other facilities, the company said, as a result of tough economic conditions.

The restructuring will cost about $45 million to $53 million, but will save between $18 million and $22 million a year.


Biopharmaceutical company Medivation ( MDVN) said on March 29 that it is cutting 20% of its staff, or 23 workers.

Included in the cuts are two executives: Dr. Karen Reeves, senior vice president of clinical development; and Lisa Taylor, vice president of commercial development. Medivation will also put a halt to its search for a new chief financial officer. The role will continue to be filled by Patrick Machado, who is also chief business officer.

The news comes after Medivation and its partner Pfizer ( PFE) revealed that a drug candidate for Alzheimer's disease failed test studies.

Continental Airlines

Continental Airlines ( CAL) announced on March 26 that it will eliminate 150 ground workers at seven U.S. airports and instead will hire contractors to do the work.

These layoffs will occur on June 1 in Providence, R.I.; Greensboro, N.C.; Richmond and Norfolk, Va.; Pensacola, Fla.; St. Louis and Kansas City.

This isn't the only round of layoffs from Continental. Last month, the airline also announced that it planned to cut about 600 jobs at its reservations centers (where customers book flights) as fliers increasingly turn to online booking.

Calls to reservation centers have been falling 15% a year, the company said at the time.

Continental also said that it won't renew a contract to answer calls for Disney resorts, which will result in about 100 out of the 600 total layoffs.


BP Solar, a subsidiary of BP ( BP), announced on March 26 that it is closing its Frederick, Md. manufacturing plant, resulting in 320 job cuts.

As prices fall on solar panels, the company is shifting the remainder of its production to lower-cost joint ventures in China and India and contracting manufacturing for the rest.

The company will retain 110 workers at the Frederick plant. BP Solar is turning its focus to developing utility-sized projects.


UBS ( UBS) has slashed 200 jobs at its U.S. brokerage unit, according to reports

The figure represents about 1.2% of the unit's 16,295 employees. About 25 managing directors are included in the layoffs, Wall Street Journal reported.

The job cuts come as UBS's new wealth-management chief in the U.S., Robert McCann, is reorganizing to compete against larger rivals, such as Bank of America ( BAC), Morgan Stanley ( MS) and Wells Fargo ( WFC), the Journal says.

Warner Chilcott

Warner Chilcott ( WCRX), which bought Procter & Gamble's ( PG) prescription drug business, announced on March 25 that it will close its office at an Ohio facility. The closure will affect 163 workers.

The job cuts will occur between May 31 and Aug. 31, but some employees will be rehired

Warner Chilcott purchased Actonel and the rest of P&G's prescription portfolio last summer for $3.1 billion.


AT&T ( T) laid off about 140 workers in Kansas on March 16, according to the Kansas City Business Journal.

The paper cited a union that represents AT&T workers in the area. The union told the Journal that the job cuts were part of a larger reduction of about 520 employees in the Southwest.

Most of the cuts came from network operations, service representatives, and installation and repair workers, the paper said.


Chevron ( CVX) announced on March 9 that it plans to cut 2,000 jobs, or 3% of its staff, this year as a way to realize savings in its refinery operations.

The company expects to record after-tax charges of $150 million to $200 million for severance, with more charges to follow.

Chevron is also looking to solicit bids for operations in Europe (including its Pembroke refinery), the Caribbean and select Central America markets, and is reviewing operations in Hawaii and Africa.


Drug maker XenoPort ( XNPT) announced on March 8 that it is cutting half its staff as it restructures the company.

XenoPort plans to only focus on drugs already in clinical testing, instead of developing new drugs. This will eliminate about 110 jobs.

The restructure will cost the company $4.2 million in the first half of 2010, but is expected to save about $15.6 million a year.

As of the end of 2009, XenoPort had 219 workers.


ConAgra Foods ( CAG) announced on March 4 that it plans to shutter one of its Slim Jim plants -- the plant is the site an explosion last June in which three people were killed.

The North Carolina ConAgra plant closure will result in 500 job cuts, although 200 workers will be added to its plant in Troy, Ohio, where production of the meat snacks will be relocated.

The ConAgra Foods shuttering is expected to result in charges of $52 million to $72 million, while the company will also be spending between $60 million to $70 million for alterations at its Troy plant.


IBM ( IBM) cut more than 2,500 jobs on March 1, according to documents submitted to a labor union representing some of IBM's employees.

The layoffs came from a number of divisions, but no specifics were revealed. IBM generally does not comment on its job cuts.

The union originally estimated 1,700 workers were let go, but later revised the number.

IBM employs more than 400,000 workers worldwide.


Sears ( SHLD) announced on Feb. 22 that it plans to shutter 21 stores by the spring -- a move that will result in about 1,000 layoffs.

Of the stores closing, eight will be Sears department stores and the other 12 will be Kmart stores. The closings are expected to be completed by May 9.

Sears already closed 27 stores during the fourth quarter and 62 stores in total in 2009.

Health insurance giant Humana ( HUM) announced on Feb. 17 that it will cut 2,500 jobs in 2010. But Humana will also add 1,100 new positions, making the net job loss at the company 1,400, or 5% of its workforce. Humana did not reveal where the layoffs would come from, but did say that new jobs are expected in medical-cost containment capabilities, pharmacy management and specialty products.


Ford Motor ( F) announced on Feb. 16 that it plans to cut 900 jobs at a Mustang factory.

The auto maker attributed the layoffs to slow sales last year and increasing competition from Chevrolet's Camaro.

The Michigan plant currently employs 2,300 people. Most of the layoffs will be hourly manufacturing workers, but some salaried staffers will also be eliminated.

It's worth noting, however, that Ford previously announced plans to hire 1,200 workers at its Chicago Assembly Plant to build the new Ford Explorer, along with 1,000 people in Michigan to make electric car batteries.


Merck ( MRK) announced a new restructuring program on Feb. 16, expecting to reduce its workforce by 15% by the end of 2012. The company currently employs 100,000 workers.

Merck said it is "committed to achieving" its previously announced savings target of $3.5 billion in 2012.

Boston Scientific

Boston Scientific ( BSX) announced on Feb. 10 that it plans to lay off as much as 10% of its work force in an effort to cut costs.

The news came after the medical device company forecast 2010 profit and sales below analysts' expectations.

Boston Scientific will cut between 1,000 and 1,300 jobs, a move it says will trim 5.5% to 7% off its annual expenses.

It will eliminate its international headquarters and consolidate other departments.


Textron ( TXT) plans to slash 350 more jobs in 2010, the company announced during its annual meeting on Feb. 10.

Over the past two years the aircraft company has eliminated 10,400 employees.

By the time this year's layoffs are complete, Textron will have shrunk 24% since the end of 2007.

As a result of the cuts, management anticipates spending $30 million in restructuring costs this year. This, however, is still lower that its $237 million in restructuring costs in 2009 and $64 million in 2008.

Activision Blizzard

Video game publisher Activision Blizzard ( ATVI) laid off about 200 employees and will close its Luxoflux development studio, the Los Angeles Times reported on Feb. 11.

Other studios hit by the layoffs include Neversoft, the lead developer of Guitar Hero, and Radical Entertainment, according to the newspaper.

The news followed Activision's $286 million loss in the fourth quarter.

Cardinal Health

Cardinal Health, a healthcare products distributor, said on Feb. 8 that it will lay off 49 workers at its Indianapolis distribution center.

The company already cut 37 jobs at the beginning of the year and will lay off 12 more by April 3. This will leave 25 employees at the facility.

Cardinal Health employs 30,000 people worldwide.


Blockbuster ( BLOAQ.PK) said it cut jobs on Feb. 8 following its weak holiday sales.

The move rental chain did not reveal how many jobs it will cut, but spokesperson Michelle Metzger said it eliminated a small percentage of its workforce including some senior-level positions. Metzger said "some hard decision had to be made" in an effort to "realign resources."

Blockbuster has 3,000 employees in North Texas, where its headquarter are located and where the job cuts were made.


Wal-Mart ( WMT) announced on Feb. 3 that it will lay off 300 employees at its Arkansas headquarters.

The majority of the cuts will come from corporate support, in an effort to make operations "more efficient," the discounter said.

This follows Wal-Mart's decision to let go of 11,200 employees at its Sam's Club chain. Wal-Mart instead will contract out its product demonstration positions to Shopper Events.

But Wal-Mart is creating jobs in Canada. The company said on Feb. 23 that it will open between 35 and 40 new super center stores, adding up to 6,500 positions.


On Feb. 2, the LATimes reported Sony Pictures Entertainment planned to lay off 450 people, more than 6.5% of its workforce and eliminate 100 open positions.

A memo to Sony Pictures' employees reportedly said the layoffs would primarily focus on home entertainment and IT in the U.S.


On January 28, Macy's ( M) became the latest retailer to say they will eliminate a spate of jobs.

The department store is slated to cut 1,500 jobs on the store level by March 6, according to several reports.

This is Macy's newest move to pare down costs. Earlier this month, the company said it would shutter five underperforming stores.

Home Depot

Home Depot ( HD) plans to lay off 1,000 employees as it cuts three pilot programs.

About 900 of the layoffs will come from consolidating some support functions in human resources, finance and other divisions, The Associated Press reported on Jan. 26.

The remainder of the cuts will come from the closure of a small-format pilot store, temporary hurricane recovery outlet in Mississippi and clearance outlet in Georgia.


Verizon ( VZ) announced on Jan. 26 that it will cut 13,000 jobs in 2010.

The news came after the company reported weak fourth-quarter results that missed analysts' estimates.

During the quarter Verizon also got hit with a $3 billion charge related to 17,000 job cuts that took place last year.

--Written by Jeanine Poggi in New York.

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