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Fitch Rates Mayers Memorial Hospital District (CA)'s Bonds ...

MMHD has not implemented any layoffs and has benefitted from receiving a $2.4 million PPP loan and roughly $4.5 million of CARES Act stimulus payments.

https://www.fitchratings.com/research/us-public-finance/fitch-rates-mayers-memorial-hospital-district-ca-bonds-bbb-outlook-stable-11-11-2020

#news #MayersMemorialHospitalNews

Here's how much cargo has sailed through the Port of Corpus Christi during the pandemic

More than 70 percent of the port's workforce is now working remotely, and the port did not sustain layoffs, Zahn said. Pain from the pandemic has been both...

https://www.caller.com/story/news/2020/11/12/heres-how-much-cargo-has-sailed-through-port-corpus-christi/6263824002/

#news #CorpusChristiNews #CityofCorpusChristiNews

JUST IN: Premier Health outsourcing services that will impact 600+ jobs

He confirmed that permanent layoffs are not expected. In October, Premier said it planned to reduce its workforce by about 1% to 2% this year, a local...

https://www.journal-news.com/news/just-in-premier-health-outsourcing-services-that-will-impact-600-jobs/WJLLAVM36JBOPM4PQTMEVCJHVM/

#news #PremierMedicalCorporationNews

Unemployment claims increased in Iowa last week

But IWD said November through February are the months that traditionally see the most unemployment claims due to seasonal layoffs in construction, agriculture...

https://www.kwqc.com/2020/11/12/unemployment-claims-increased-in-iowa-last-week/

#news #IowaNews

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How COVID-19 is eating away millions of dollars from schools

It's unclear how long districts can keep digging into their savings, though school leaders say they are optimistic they'll pull through without any layoffs. "You can...

https://kimatv.com/news/local/how-covid-19-is-eating-away-millions-of-dollars-from-schools

#news #LausdNews #LosAngelesUnifiedSchoolDistrictNews

Mesa's cultural scene slowly reawakening

While layoffs have been required since March, she said her staff has created a new, robust series of digital artistic programs to enrich people's lives and to help...

https://www.eastvalleytribune.com/news/mesa-s-cultural-scene-slowly-reawakening/article_d955a170-22c3-11eb-b385-5bfe687ea5c7.html

#news #MesaNews #CityofMesaNews

Bosnian Trade Unions Under Fire as COVID-19 Crisis Takes ...

“Various union representatives have made appeals, demands and other messages of support for job preservation and opposition to layoffs, mostly through the...

https://balkaninsight.com/2020/11/12/bosnian-trade-unions-under-fire-as-covid-crisis-takes-toll-on-jobs/

#news #EnergoinvestNews


Damir, a 47-year old journalist, recalled being “shocked” by his sudden dismissal from a Sarajevo-based media outlet at the beginning of April, not long after COVID-19 struck Bosnia and Herzegovina.

Damir had spent 25 years at the company, but under the termination agreement he and a number of other journalists signed, they gave up their right to severance pay.

More than 27,000 people were made jobless in Bosnia between March and the end of September, many as the result of the lockdown and ensuing economic crisis caused by the coronavirus pandemic.

Experts say the true figure is likely far higher given the number of people in Bosnia engaged ‘off the books’.

Trade unions argue they have fought to protect jobs, in some cases with success, but critics question this, saying they have failed to soften the blow from the pandemic.

“Various union representatives have made appeals, demands and other messages of support for job preservation and opposition to layoffs, mostly through the media, but this has had no visible impact and seemed more an attempt to demonstrate their relevance than actual concrete action in the interests of workers,” said Igor Gavran, a Sarajevo-based economic analyst.

The Bosnian economy is expected to shrink by some five per cent this year, according to the International Monetary Fund, IMF. Bosnia’s Agency for Statistics says economic output contracted by a dramatic 9.3 per cent in the second quarter of 2020 year-on-year. Industrial production, exports, remittances and employment are falling too.

According to Bosnia’s Labour and Employment Agency, in August this year there were 427,593 unemployed people, or 5.1 percent more than in the same month of last year. The general unemployment rate is estimated at around 35 per cent.

Just over 330,000 of those without jobs live in the mainly Bosniak and Croat Federation and almost 90,000 in the mainly Serb-populated Republika Srpska, the two entities that make up post-war Bosnia. Roughly 7,000 were in the autonomous district of Brcko.

The sharp difference reflects the nature of the entities’ economies, with the Federation traditionally more industrial and the Republika Srpska more dependent on agriculture.

Union leaders deny doing too little to protect the jobs of those they represent.

“In all cases of violation of rights that are reported to us, we react and are not passive in any situation,” Mersiha Besirovic, head of the Union of Trade and Service Workers, told BIRN.

Selvedin Satorovic, president of the Alliance of Independent Trade Unions, which operates only in the Federation entity, also dismissed the criticism, arguing that his union had tabled a number of demands of the government.

These, he said, included the regular payment of wages and benefits for employees whose work was paused through no fault of their own and the intensification of labour inspections to prevent employers from exploiting the pandemic to lay off unwanted employees or cut salaries.

But he conceded that the Alliance of Independent Trade Unions had little clout in the private sector, where most of the layoffs occurred, but had proposed a general collective agreement to the government and the Federation’s Association of Employers over a year ago that would determine the basic rights of employees in all companies and would apply to all employers regardless of structure and capital. The response was underwhelming.

Besirovic’s union intervened when some employers tried to get workers to sign requests for unpaid leave and in other cases, she told BIRN. It also created a Viber support group connecting workers made redundant or facing violations of their rights with therapists.

“The Union is neither passive, nor do we calmly observe what is happening in our sector,” Besirovic said.

In the Republika Srpska, Ranka Misic, president of the Federation of Trade Unions, said unionised sectors had fared far better than those without trade union representation.

“In general, in the private sector, workers’ rights are violated where there is no union, and we do not have that kind of problem in places with an organised union,” Misic told BIRN.

She said there had been no layoffs or pay cuts in companies that continued working at full capacity, but conceded that the union’s efforts to secure higher wages due to increased workloads and more difficult working conditions had made little headway.

“We have different experiences, but I can say with full responsibility that labour rights are respected in places where there is a union,” Misic said.

Some independent experts, however, question the unions’ view of events.

While many companies did not actually make workers redundant, he said, they simply did not extend their fixed-term contracts, with the same effect. Some took the opportunity to get rid of workers whom it would be more difficult to fire in normal circumstances, mainly older workers.

With regards unions, Gavran said it was unclear whether they had failed to react, or they tried to do something and failed to have an effect.

“Certainly, the economy will continue to slow down and suffer damage, because it operates in abnormal circumstances with practically no help, except for demagogic and essentially false phrases about saving the economy by avoiding ‘lockdown’,” Gavran told BIRN.

Kesetovic, from Tuzla, said one problem was the lack of certainty over how long the crisis would last or how intense it might become. “Another problem is that the crisis is acting globally and, ultimately, that unions, the state and employers cannot find the best instruments and measures,” he told BIRN.

New ideas — and maybe more hope — for avoiding city layoffs during the pandemic | Editorial

Also welcome this week was a Chicago Federation of Labor report listing a series of specific ways the city could chop $272 million in costs to avert layoffs and,...

https://chicago.suntimes.com/2020/11/11/21560833/chicago-city-finances-budget-cfl-chicago-federation-labor-lori-lightfoot-editorial

#news #ChicagoNews #CityofChicagoNews

Tech : layoffs at Starbucks lead to criticism of AMLO

Alsea cannot leave behind the controversy over the treatment of Starbucks workers in the midst of the pandemic, President AMLO goes against their practices.

https://www.explica.co/layoffs-at-starbucks-lead-to-criticism-of-amlo/

#news #StarbucksNews


layoffs at Starbucks lead to criticism of AMLO

Alsea cannot leave behind the controversy over the treatment of Starbucks workers in the midst of the pandemic, President AMLO goes against their practices.

Alsea cannot leave behind the controversies over the treatment of workers in Starbucks, controversial in the midst of a health and economic crisis. This resulted in a brand crisis That caused the company to be a trend in social networks and that the criticism did not stop because the action was interpreted as an abuse in the middle of the pandemic. Social networks can be a determining factor for reputation, which, according to Llorente & Cuenca, is decisive in the tangible and intangible resources of the value of a brand.

The company reported a pact with its employees that consists of a reduction in the number of positions in their corporate spaces, which was not specifically a dismissal, but a kind of 30-day-off leave, without pay, similar to the Temporary Employment Regulation File (ERTE) process that exists in Spain and that many companies implemented in that nation.

However, today the controversy renews its vigor, in the face of the words of the president of Mexico, Andrés Manuel López Obrador (AMLO), who not only accused of firing Mexicans amid the health crisis, but to contribute to Sí por México.

“Alsea began firing Starbucks employees during the Covid-19 pandemic without recognizing workers’ rights. Alsea “with such moral behavior” contributes money to Sí por México “.

“Deep down, these organizations defend corruption and privilege and that is why now they are launching against us. Why Alsea, who laid off workers in the Pandemic, gives money to Juntos for corruption. With the same money from the people they campaign against the people, ”he said in the morning.

And it is that during this week the Proceso magazine revealed that the organization Mexicans Against Corruption and Impunity (MCCI) it handles the donations it receives with opacity, almost all from the Mexican business elite and which apparently do not agree with what it reports to the Tax Administration Service (SAT).

The media had access to the benefactors and their contributions, where it locates members of the Mexican Business Council (CMN), confirmed by the richest and most powerful businessmen in Mexico.

Legoland Florida seeks to hire 150 employees

After layoffs this summer, Legoland Florida announced it is now hiring more employees to get ready for the holiday season. The Winter Haven theme park and...

https://news.yahoo.com/layoffs-legoland-florida-seeks-hire-183300212.html

#news #LegoNews

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Alorica Layoffs - Nearly 800 Layoffs Slated At Two Austin Job Sites

AUSTIN, TX — A pair of companies operating facilities in Austin have alerted to nearly 800 layoffs between them — with at least one round of furloughs blamed...

https://patch.com/texas/downtownaustin/nearly-800-layoffs-slated-two-austin-job-sites

#news #AloricaNews


Nearly 800 Layoffs Slated At Two Austin Job Sites

California-based Alorica and France-based Sodexo are laying off 712 and 80 jobs, respectively, at their local operations.

AUSTIN, TX — A pair of companies operating facilities in Austin have alerted to nearly 800 layoffs between them — with at least one round of furloughs blamed on corrosive economic effects of the coronavirus — as outlined in documents filed with state regulators.

Officials at Alorica, a California-based company providing outsourced customer service operations, alerted the Texas Workforce Commission of plans to permanently close its entire Austin site located at 7401 E. Ben White Blvd. by Dec. 31 — a move that will result in 712 job cuts. Patch requested correspondence sent to regulators in compliance with the Worker Adjustment and Retraining Notification Act, a federal labor law compelling companies with at least 100 workers to provide a 60-day advance notice of plant closings and layoffs.

In the correspondence, a vice president of the company said the affected workers are not represented by a union. So-called "bumping rights," whereby affected with seniority would be able to take a lower position from a co-worker to prevent being terminated do not exist given the closure of the entire operations in Austin, the VP explained.

Bumping rights do not exist, and employees are not unionized. Affected employees were notified on the same date as this letter of the Plant Closing and their respective termination dates. The chief local elected official was also notified on the date of this letter.

The company did not detail reasons for the layoffs in its correspondence with the Texas Worker Commission. Patch reached out to the company official alerting regulators to the layoffs, but a voicemail message was not immediately returned.

A second company named Sodexo — self-described on its website as a French food services and facilities management company headquartered in the Paris suburb of Issy-les-Moulineaux — also alerted to layoffs. In correspondence to the Texas Workforce Commission, the company blamed the economic impact spurred by the pandemic as the reason for imminent layoffs of 80 local workers.

"At this time, employees are being placed on, or have been placed on, temporary lay-off status, with only a few permanent separations associated with this crisis and business impact," a human resources official with the company wrote to state regulators. The company lists its operations as being housed at the University of Texas at Austin, 1701 Red River St.

The latest list of companies alerting to layoffs shows that Sodexo also plans to cut 177 jobs in El Paso, Texas.

"I thought we'd never get it," Liz Uihlein, an outspoken critic of COVID-19 restrictions, told Uline employees. "Well, Trump got it."

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Media Coverage for EY: One EY Employee Is Getting Antsy About the Prospect of More Layoffs Next Year

He seemed to imply that layoffs would not happen this calendar year (till Dec 31st) but next calendar year (from Jan 1 onward) the current layoff information/policy...

https://www.goingconcern.com/one-ey-employee-is-getting-antsy-about-the-prospect-of-more-layoffs-next-year/

#news #ErnstAndYoungNews #ErnstYoungNews

Cut jobs or not?

Golden Gate Bridge board considers raising tolls to avoid layoffs

Officials are trying to avoid layoffs and the bill could be put onto drivers still using the bridge. The board of directors of the Golden Gate Bridge, Highway and...

https://www.kron4.com/news/bay-area/golden-gate-bridge-board-considers-raising-tolls-to-avoid-layoffs/

#news #SanFranciscoNews #CityofSanFranciscoNews


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Media coverage for Pittsburgh layoffs - These were the largest announced layoffs in the Pittsburgh region during the coronavirus pandemic

It's still tough.

Temporary layoffs lasting six months or less do not have to be reported in a WARN notice, nor do layoffs have to be reported if a mass layoff results in fewer than...
https://www.wpxi.com/news/business/these-were-largest-announced-layoffs-pittsburgh-region-during-coronavirus-pandemic/ZRY5PKZTMREH5EFJEQGOGVDFQ4/

#news #PittsburghNews #CityofPittsburghNews


These were the largest announced layoffs in the Pittsburgh region during the coronavirus pandemic

PITTSBURGH — The Covid-19 pandemic continues to leave its mark across nearly all sectors of the global economy and Pittsburgh is no different. The region has seen thousands of workers face job cuts as companies aim to mitigate losses amid shrinking revenues and other financial hardships.

As required by federal labor law, the Worker Adjustment and Retraining Notification (WARN) Act mandates that employers inform state governments within 60 calendar-days of any planned mass layoffs if the business or organization employs 100 workers or more and if the layoffs meet certain requirements. Temporary layoffs lasting six months or less do not have to be reported in a WARN notice, nor do layoffs have to be reported if a mass layoff results in fewer than 50 workers losing their jobs at a single employment site, which can be the case for many restaurants and stores.

Below are the 55 largest layoffs throughout the region as reported via a WARN notice to the Pennsylvania Department of Labor & Industry since March 2020. In total, these layoffs represent more than 15,300 jobs lost throughout the Pittsburgh-area, with many of them listed as being permanently terminated. The largest sectors hit include the hotel and greater hospitality industry in general as well as construction and manufacturing.

Read more from our news partners at the Pittsburgh Business Times.

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Competitors are struggling

There you go...

Four Seasons, Bellevue lay off more hotel employees as business declines continue

Additional rounds of pandemic-related layoffs have hit two prominent Philadelphia hotels as the hospitality industry prepares for a holiday travel season...

https://www.bizjournals.com/philadelphia/news/2020/11/11/center-city-hotel-layoffs-coronavirus.html

#news

How is this done? "Chicago labor leaders create plan to avoid layoffs"

How do you stop layoffs?

(WBBM NEWSRADIO) – The city's biggest labor organization is outlining a plan its leaders say could help the Lightfoot Administration avoid employee layoffs.

https://www.radio.com/wbbm780/news/local/chicago-labor-leaders-create-plan-to-avoid-layoffs

#news #ChicagoNews #CityofChicagoNews


Chicago labor leaders create plan to avoid hundreds of layoffs

CHICAGO (WBBM NEWSRADIO) – The city’s biggest labor organization is outlining a plan its leaders say could help the Lightfoot Administration avoid employee layoffs.

The Chicago Federation of Labor asked the labor-oriented think tank Public Works, to find alternatives to Mayor Lightfoot’s expectation that she’d have to layoff some 350 employees to balance the budget.

Public Work’s report outlines some $270-million in savings, more than enough to offset the layoffs.

Among the ideas, cutting health care costs, by among other things, having the city self-insure, and make its own deal with a third party health care provider. The proposals also include reducing the number of middle managers and renegotiating towing and information technology leases.

CFL President Bob Reiter said the group looks forward to working with Mayor Lightfoot to put these measures and others into effect.

Layoffs Peaking

Layoff #s are going up:

These are the biggest Louisville-area layoffs and furloughs since the coronavirus pandemic started

One important note: This list includes both furloughs and temporary layoffs, so some of the companies below could have called workers back since the WARN was...

https://www.bizjournals.com/louisville/news/2020/11/11/the-biggest-louisville-area-layoffs-since-the-pand.html

#news #LouisvilleNews #CityofLouisvilleNews

See this: Massachusetts c-sino closure order prompts layoffs ...

  • In August, MGM laid off 18,000 furloughed workers, about 1,000 of which were at MGM Springfield.

That day, MGM Springfield's employees received a letter concerning the layoffs, stating that the company hopes to bring the workers back to work and increase...

https://vegasslots.net/news/las-vegas-news/massachusetts-c-sino-closure-order-prompts-layoffs/

#news #MassachusettsNews


Massachusetts c-sino closure order prompts layoffs

Las Vegas-based operators are moving to reduce employees at
their Massachusetts properties after the state ordered its c-sinos to close
nightly.

MGM Springfield, a subsidiary of MGM Resorts International, laid off or reduced hours for 250 staff members on Friday. Also, the Wynn Resorts Ltd.-operated Encore Boston Harbor could furlough up to 1,000 employees.

The labor cuts come after Massachusetts Gov. Charlie Baker ordered the three c-sinos in the state to close nightly at 9:30. The order came into effect Friday with no anticipated end date.

Wynn Resorts said it would close its property between 9 pm
and 9 am until further notice, while MGM Springfield is set to close daily at
9:30 pm and open at 10 am. Both properties are temporarily closing their
hotels.

Encore Boston Harbor and MGM Springfield had closed doors
between March 15 and mid-July because of the coronavirus pandemic.

The nightly curfew is meant to help combat the surging cases of COVID-19 in Massachusetts. The state’s website revealed that as of Friday, the state had a seven-day positivity rate of 2.1%.

That day, MGM Springfield’s employees received a letter concerning the layoffs, stating that the company hopes to bring the workers back to work and increase working hours once the state lifts the curfew order.

Impacted employees enrolled in MGM’s health care plan will
continue enjoying health benefits for at least the rest of the year. They will
also retain access to the company’s employee portal website, which includes
news updates, internal job postings, training opportunities, and the privilege
to access resources such as MGM’s Employee Emergency Grant Fund.

In August, MGM laid off 18,000 furloughed workers, about 1,000 of which were at MGM Springfield.

Encore Boston Harbor’s operating hours have been reduced to
half, resulting in a likelihood of the company furloughing more employees,
according to a spokesperson. While the company hasn’t finalized the decision,
about 670-1,000 employees are likely to be affected.

Wynn Resorts CEO Matt Maddox said Thursday that he feels the curfew is a “temporary setback” for the Massachusetts-based property, which had seen record EBITDA (earnings before interest, taxes, depreciation, and amortization) in the third quarter.

He added that the new order will impact the property since
it generates more than half of its revenue at night.

Hospital Cuts (11 hospitals listed)....

There you go - more cuts...

Children's Minnesota cited several reasons for the layoffs, including the financial hit from the COVID-19 pandemic. Affected employees will end their employment...

https://www.beckershospitalreview.com/finance/11-hospitals-laying-off-workers-110920.html

#news


11 hospitals laying off workers

The financial challenges caused by the COVID-19 pandemic have forced hundreds of hospitals across the nation to furlough, lay off or reduce pay for workers, and others have had to scale back services or close.

Lower patient volumes, canceled elective procedures and higher expenses tied to the pandemic have created a cash crunch for hospitals. U.S. hospitals are estimated to lose more than $323 billion this year, according to a report from the American Hospital Association. The total includes $120.5 billion in financial losses the AHA predicts hospitals will see from July to December.

Hospitals are taking a number of steps to offset financial damage. Executives, clinicians and other staff are taking pay cuts, capital projects are being put on hold, and some employees are losing their jobs. More than 260 hospitals and health systems furloughed workers this year and dozens of others have implemented layoffs.

Below are 11 hospitals and health systems that announced layoffs since Sept. 1, most of which were attributed to financial strain caused by the pandemic.

  1. NorthBay Healthcare, a nonprofit health system based in Fairfield, Calif., is laying off 31 of its 2,863 employees as part of its pandemic recovery plan, the system announced Nov. 2.
  1. Minneapolis-based Children's Minnesota is laying off 150 employees, or about 3 percent of its workforce. Children's Minnesota cited several reasons for the layoffs, including the financial hit from the COVID-19 pandemic. Affected employees will end their employment either Dec. 31 or March 31.
  1. Brattleboro Retreat, a psychiatric and addiction treatment hospital in Vermont, notified 85 employees in late October that they would be laid off within 60 days.
  1. Citing a need to offset financial losses, Minneapolis-based M Health Fairview said it plans to downsize its hospital and clinic operations. As a result of the changes, 900 employees, about 3 percent of its 34,000-person workforce, will be laid off.
  1. Lake Charles (La.) Memorial Health System laid off 205 workers, or about 8 percent of its workforce, as a result of damage sustained from Hurricane Laura. The health system laid off employees at Moss Memorial Health Clinic and the Archer Institute, two facilities in Lake Charles that sustained damage from the hurricane.
  1. Burlington, Mass.-based Wellforce laid off 232 employees as a result of operating losses linked to the COVID-19 pandemic. The health system, comprising Tufts Medical Center, Lowell General Hospital and MelroseWakefield Healthcare, experienced a drastic drop in patient volume earlier this year due to the suspension of outpatient visits and elective surgeries. In the nine months ended June 30, the health system reported a $32.2 million operating loss.
  1. Baptist Health Floyd in New Albany, Ind., part of Louisville, Ky.-based Baptist Health, eliminated 36 positions. The hospital said the cuts, which primarily affected administrative and nonclinical roles, are due to restructuring that is "necessary to meet financial challenges compounded by COVID-19."
  1. Cincinnati-based UC Health laid off about 100 employees. The job cuts affected both clinical and non-clinical staff. A spokesperson for the health system said no physicians were laid off.
  1. Mercy Iowa City (Iowa) announced in September that it will lay off 29 employees to address financial strain tied to the COVID-19 pandemic.
  1. Springfield, Ill.-based Memorial Health System laid off 143 employees, or about 1.5 percent of the five-hospital system's workforce. The health system cited financial pressures tied to the pandemic as the reason for the layoffs.
  1. Watertown, N.Y.-based Samaritan Health announced Sept. 8 that it laid off 51 employees and will make other cost-cutting moves to offset financial stress tied to the COVID-19 pandemic.

Fairplex in Pomona announces layoffs of more than half of its employees

Layoffs in Pomona - not sure if folks are surprised...

In total, 82 employees who were originally furloughed this spring, were notified of the layoffs on Oct. 30. The cuts leave 28 full-time workers at the Pomona venue...

https://www.dailybulletin.com/2020/11/06/fairplex-in-pomona-announces-layoffs-of-more-than-half-of-its-employees/

#news #PomonaNews #CityofPomonaNews

State Report Says More That 1,000 Layoffs Are Coming At Chicago Area Restaurants Due To COVID-19 Pandemic

State Report Says More That 1,000 Layoffs Are Coming At Chicago Area Restaurants Due To COVID-19 Pandemic. By CBS 2 Chicago Staff November 6, 2020 at...

https://chicago.cbslocal.com/2020/11/06/state-report-says-more-that-1000-layoffs-are-coming-at-chicago-area-restaurants-due-to-covid-19-pandemic/

#news #ChicagoNews #CityofChicagoNews


State Report Says More Than 1,000 Layoffs Are Coming At Chicago Area Restaurants Due To COVID-19 Pandemic

CHICAGO (CBS) — The Illinois Worker Adjustment and Retraining Act Report for the month of October announced 3,384 coming layoffs in the state – most of them permanent, and many of them at Chicago restaurants.

Employers are required to file with the state for the WARN Report each month, giving 60 days notice in mass layoffs. The total number of restaurant layoffs amounted to 1,070.

Meanwhile, foodservice provider Aramark is enacting temporary layoffs at an unspecified date at multiple locations – 92 at the Morton Arboretum in Lisle, 93 at the Rosemont Convention Center, and 192 at the Allstate Arena.

The Ace Hotel, 311 N. Morgan St., already started back on Sept. 30 with 64 temporary layoffs. Takeda Pharmaceuticals in Bannockburn is laying off 400 employees permanently due to a restructuring and relocation, and the mobile outreach program for Catholic Charities at the Archdiocese of Chicago is permanently laying off 43 employees for unspecified reasons.

The reasons for the vast majority of layoffs announced in the report was the COVID-19 pandemic.

Massive Job Cuts @ Jackson National Lays - 150 Workers Axed

The layoffs are due to “economic conditions and a decline in industry sales,” a... Jackson National joins Allstate, Transamerica and Pacific Life in recent layoff...

https://www.thinkadvisor.com/2020/11/03/jackson-national-lays-off-150-workers/

#news #JacksonNationalLifeNews


Jackson National Lays Off 150 Workers

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.

Lansing, Michigan-based Jackson National Life Insurance will lay off 150 workers across its branches, it announced Monday.

The layoffs are due to “economic conditions and a decline in industry sales,” a company spokesperson said in a statement to WKRN in Franklin, Tennessee, home to one of 10 Jackson National branches.

Just three weeks ago, British insurer Prudential Plc. announced plans to spin off its American businesses, one of which is Jackson National. Prudential Plc. said the move will allow the conglomerate to focus on operations in Asia and Africa.

Jackson National joins Allstate, Transamerica and Pacific Life in recent layoff announcements. Allstate announced Sept. 30 it will lay off 3,800 employees, or 8% of its workforce. On Oct. 22, California-based Pacific Life said it will lay off close to 300, or about 7% of the company’s workforce.

Even amid layoff news, research is saying that publicly traded life and annuity companies are staying strong financially.

According to news released by Morgan Stanley earlier this month, some are even doing well enough to buy back their own stock by the end of this year. That said, Morgan Stanley analysts said they expect some of the life insurers they follow to report weak third-quarter results.

Two advisors moved to Stifel in Dallas, while the other did so in the St. Louis area; the three had combined assets of $243 million.

Two key swing states could report the bulk of their vote counts, and if Trump loses them, it's likely over, BNY Mellon's deputy CIO says.

The plan would cost “tens of trillions of dollars,” but there is no better time to finance such an effort, he says.

This will be the second management fee cut for most of the 33 funds within a year.

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Check this out: From Exxon to Charles Schwab, white-collar job cuts are mounting

In the last few days, ExxonMobil, Chevron (CVX), Charles Schwab and... That's on top of major layoffs already announced or reported in the press at Wells...

https://www.cnn.com/2020/10/30/business/jobs-white-collar-layoffs/index.html

#news #ChevronNews


From Exxon to Charles Schwab, white-collar job cuts are mounting

New York (CNN Business)The pandemic has wiped out millions of mostly low-income jobs in hotels, restaurants, retail and other hard-hit corners of the economy. Now, the pink slips are spreading to higher-paid office workers.

Santander plans to cut staff in Europe to save $1.2 billion over 2 years

Santander had already undergone a round of layoffs relatively recently: 3,069 employees were dismissed after the absorption of Banco Popular in 2019.

https://www.businessinsider.com/santander-layoff-cut-redundancies-redundant-european-layoffs-banks-two-years-2020-10

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Children's Minnesota to lay off 150 staffers

About 150 folks laid off.
Not good at all.

The layoffs affect about 3 percent of the health system's workforce. In addition to the job cuts, Children's Minnesota said that another 150 open positions will not be...

https://www.beckershospitalreview.com/finance/children-s-minnesota-to-lay-off-150-staffers.html

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