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Enfield expects ripple effect when MassMutual cuts 82 local jobs
The MassMutual layoffs are due to the sale of its retirement plans business, the company says in a notice provided to the state. In the letter filed this week with the...
https://www.journalinquirer.com/connecticut_and_region/enfield-expects-ripple-effect-when-massmutual-cuts-82-local-jobs/article_541d645a-159b-11eb-93a8-cf50a7888609.html
Georgia gets more funds for worker retraining
The grants provide resources for states to respond to large, unexpected
layoff ... Georgia, as well as surrounding states, has experienced
significant layoffs and ...
https://times-herald.com/news/2020/10/georgia-gets-more-funds-for-worker-retraining
Tesla Claims China Caused Unnecessary Recall
Now, a letter obtained by Electrek shows Tesla thinks there is no defect,
and no recall is needed.The letter is from Elizabeth H. Mykytiuk, Tesla's
managing counsel ...
https://www.reportdoor.com/tesla-claims-china-caused-unnecessary-recall/
If layoffs are needed, the LAPD — which is projected to consume roughly $3
billion this year — will need to do its part, Przylucki added.
https://www.latimes.com/california/story/2020-10-23/la-budget-crisis-600-million-deficit
Aramark is Laying off 2,000 Workers at Wells Fargo Center, Citizens Bank
Park, and Pennsylvania Convention Center
The layoffs are reported as being temporary, according to the WARN
notification filed with the Commonwealth of Pennsylvania. WARN is the
“Worker Adjustment ...
https://www.crossingbroad.com/2020/10/aramark-is-laying-off-2000-workers-at-wells-fargo-center-citizens-bank-park-and-pennsylvania-convention-center.html
3Q Earnings Could Reveal Insurers' Plans On Layoffs, Low ...
Analysts are eager to see the bottom lines as many insurers are starting to show cracks in the economic foundation – in the form of significant employee layoffs.
https://insurancenewsnet.com/innarticle/3q-earnings-could-reveal-insurers-plans-on-layoffs-low-rates
https://siliconangle.com/2020/10/22/intels-stock-dives-sharply-data-center-weakness/
Intel Corp.’s stock lost almost 10% of its value in after-hours trading today on weakness in its data center business, despite reporting third-quarter results more or less in line with Wall Street’s expectations.
The chipmaker reported a profit before certain costs such as stock compensation of $1.11 per share on revenue of $18.3 billion. Wall Street’s forecast was almost spot on, with analysts having forecast a profit of $1.11 per share on slightly lower revenue of $18.25 billion.
In a statement, Intel Chief Executive Bob Swan (pictured) said the company had managed to deliver “solid” third-quarter results that exceeded its own expectations, despite COVID-19 affecting “significant portions” of its business.
No doubt Swan was referring to Intel’s data center business. The Data Center Group, which sells chips to cloud computing providers and server makers, reported revenue fell 7% from a year ago, to $5.91 billion. Intel said that was primarily the result of lower demand from enterprises and governments in the quarter, though its data center cloud revenues did manage to grow by 15%. The unit wasn’t helped by an average selling price that was 15% lower than it was in the same period a year ago.
“This is the first quarter I have seen COVID-19 negatively impact the company,” Moor Insights & Strategy analyst Patrick Moorhead noted.
Intel’s Client Computing Group, which sells personal computer chips, did better. It reported $9.85 billion in revenue, up 1% from a year ago, helped by a bump in PC sales during the third quarter as people kept buying new machines to work from home more efficiently.
Intel recently announced that it plans to sell its NAND flash memory chip business to South Korean firm SK Hynix Inc., and the performance of its Non-Volatile Memory Solutions Group probably showed why. NAND flash sales make up the vast majority of that business, and it reported revenue of just $1.15 billion in the quarter, down 11% from a year ago.
Charles King of Pund-IT Inc. told SiliconANGLEthat Intel’s earnings report shows that the company is in a tough situation. He said that although it had initially benefited from trends such as working from home at the start of the COVID-19 pandemic, it was under pressure from larger economic issues that were forcing customers to cut costs wherever possible, including in the data center.
“Add in substantial threats from ambitious competitors including AMD and Nvidia, which have many products priced substantially lower than Intel’s, and something has to give,” King said.
The growing costs of sales meant that Intel’s operating margins were down, to just 27.6% this quarter, from 33.6% one year ago. Operating margin in the data center group took the worst hit, down to 32% from 49% the year before.
Moorhead said this may have been from Intel selling more 10-nanometer chips in the quarter. He noted that these are more expensive to manufacture than its previous-generation 14-nanometer chips.
Looking ahead, Intel said it’s expecting fourth-quarter earnings of $1.10 per share on revenue of $17.4 billion, just ahead of Wall Street’s forecast of $1.07 in profit on $17.36 billion revenue.
In a conference call with analysts, Swan said that despite the challenges it faces, Intel was actively executing a diversified growth strategy and that it operates several multibillion-dollar businesses fueled by the explosion in data and the emergence of new technologies such as artificial intelligence and 5G networks.
IBM Is Turning Into Red Hat on Steroids
With every passing quarter, IBM (NYSE:IBM) looks more and more like an
amped-up version of Red Hat.
https://newyork.citybizlist.com/article/634760/ibm-is-turning-into-red-hat-on-steroids
Baker admin hopes to avoid layoffs in budget reckoning
BOSTON (SHNS) – Gov. Charlie Baker's administration hopes to avoid
government layoffs both this year and next year, the governor's top budget
official told ...
https://www.wwlp.com/news/state-politics/baker-admin-hopes-to-avoid-layoffs-in-budget-reckoning/
Synchrony Financial Disclosed Radical Work-from-Home Plan...
reducing its ... as many Synchrony jobs as we can and reducing the size of
any layoffs,” the ...
https://wolfstreet.com/2020/10/20/consumer-finance-giant-synchrony-disclosed-radical-permanent-work-from-home-plan/
What recovery? These big companies have recently announced massive layoffs
These big companies have recently announced massive layoffs ... Expedia Group announced internally this week that "'further redundancies' would be taking place within its Travel Partners Group", Skift reported on Tuesday.
https://www.cnbctv18.com/world/what-recovery-these-big-companies-have-recently-announced-massive-layoffs-7261181.htm/
After lengthy layoff, McDade & Co. power past Clayton for ...
After lengthy layoff, McDade & Co. power past Clayton for second victory.
Updated 11:12 PM; Today 11:10 PM. 31. Pennsville vs. Clayton football, Oct.
19, 2020.
https://www.nj.com/highschoolsports/2020/10/after-lengthy-layoff-mcdade-co-power-past-clayton-for-second-victory.html
Saratoga Springs budget calls for layoffs of police, firefighters ...
Madigan and other city leaders remain hopeful that federal aid for
municipalities will come through to help them avoid layoffs and make up for
the shortfalls of the ...
https://wnyt.com/capital-region-comeback/saratoga-springs-budget-calls-for-layoffs-of-police-firefighters-and-dpw-employees/5889461/
Chevron to cut Houston jobs amid larger layoff plans
The layoffs are expected to begin Oct. 23, according to a Worker Adjustment
and Retraining Notification Act letter Chevron sent to the Texas
Workforce ...
https://www.bizjournals.com/houston/news/2020/10/08/chevron-job-cuts-houston.html
Retail Chain's Closure Spells Area Layoffs
Mass layoffs will begin Dec. 1 for Lord & Taylor's four Massachusetts
locations, as the company begins closing all its stores nationwide.
Subscribe. Le Tote, Lord & ...
https://patch.com/massachusetts/medford/retail-chains-closure-costing-dozens-jobs-middlesex-patch-pm
After 900 layoffs and 6400 furloughs, Rutgers says more cuts ...
So far, 40 employees have been recalled to work after layoffs, mostly in
dining services,” Devlin said. Rutgers has also slashed the number of its
adjunct professors ...
https://www.nj.com/education/2020/10/after-900-layoffs-and-6400-furloughs-rutgers-says-more-cuts-are-coming.html
Preckwinkle Vows to Protect Provident Hospital as Union ...
Preckwinkle Vows to Protect Provident Hospital as Union Blasts Layoffs.
Heather Cherone | October 15, 2020 3:33 pm.
https://news.wttw.com/2020/10/15/preckwinkle-vows-protect-provident-hospital-union-blasts-layoffs
Schenectady NAACP calls for school layoff freeze ...
SCHENECTADY — The Schenectady NAACP chapter on Wednesday called on the
Schenectady school board to freeze any new layoffs and to begin
reinstating ...
https://dailygazette.com/2020/10/15/schenectady-naacp-calls-for-school-layoff-freeze-reinstatement-of-positions/
Former Pratt & Whitney employee speaks out on state-wide layoffs ...
Tuesday morning, he told News 8, “I thought to myself it couldn't be part
of the layoff.”.
https://www.wtnh.com/news/connecticut/former-pratt-whitney-employee-speaks-out-on-state-wide-layoffs/
Ahead of Seattle Police layoffs, officers are leaving on their own
Ahead of Seattle Police layoffs, officers are leaving on their own. An
increase in retirements and resignations in the department could make
budget cuts easier ...
https://crosscut.com/news/2020/10/ahead-seattle-police-layoffs-officers-are-leaving-their-own
Massport Layoffs Possible As Logan Airport Travel Plummets
budget gap over the next three years, a deficit that could lead to layoffs,
top officials say.
https://boston.cbslocal.com/2020/10/16/massport-400-million-budget-gap-three-years-dropoff-airtravel-logan-international-airport-covid-19/
Wabtec announces up to 150 permanent layoffs in coming ...
More than 100 permanent layoffs will soon impact Erie's locomotive plant.
Wabtec will soon layoff up to 150 employees permanently at its Erie plant.
A local ...
https://www.yourerie.com/news/local-news/wabtec-announces-up-to-150-permanent-layoffs-in-coming-months-at-erie-plant/
Protesting layoffs at CSUMB – Monterey Herald
Several demonstrators Friday marched by the home of CSUMB President Eduardo
Ochoa to protest layoffs at the university...
https://www.montereyherald.com/protesting-layoffs-at-csumb
Disney Hammered for Layoffs, Payouts - Mon., Oct. 19, 2020
Disney Hammered for Layoffs, Payouts. Mon., Oct. 19, 2020. By Ronn
Torossian ...
https://www.odwyerpr.com/story/public/15056/2020-10-19/disney-hammered-for-layoffs-payouts.html
Aramark planning temporary, permanent layoffs at Rocket Mortgage...
Aramark planning temporary, permanent layoffs at Rocket Mortgage
FieldHouse. Updated 4:13 PM; Today 4:13 PM. Central Michigan Chippewas play
against ...
https://www.cleveland.com/news/2020/10/aramark-planning-temporary-permanent-layoffs-at-rocket-mortgage-fieldhouse.html
While in some cases major airlines have been able to defer layoffs and
other staffing reductions with the help of government financial support...
https://aircargoworld.com/news/stakeholders/carriers/aviation-layoffs-build-as-pandemic-crash-drags-on/
Disney Employees Lose Jobs, Education Amid ...
Disney Employees Lose Jobs, Education Amid Layoffs. disneyland
cast member.
https://insidethemagic.net/2020/10/disney-cast-members-lose-education-kj1
Brainerd nurses at Essentia Health picket, wanting more pay ...
Essentia Health announces more layoffs. Another issue, Zelinske
said, is workers' compensation for nurses who may contract COVID-19. In
one ...
https://www.pineandlakes.com/newsmd/health-news/6723743-Brainerd-nurses-at-Essentia-Health-picket-wanting-more-pay-and-COVID-19-protection
Pacific Life Insurance Co. lays off almost 300 employees in light of COVID-19
Most of the layoffs were immediate and happened last week, but a small
portion will occur in the fourth quarter of this year and in the first
quarter of 2021.
https://www.latimes.com/socal/daily-pilot/news/story/2020-10-19/pacific-life-insurance-co-lays-off-almost-300-employees-in-light-of-covid-19
SK Hynix in $9 bn deal for Intel's flash memory chip business
In a regulatory filing, SK Hynix said it will acquire Intel's "entire NAND
business division excluding the Optane division" for 10.3 trillion won,
with Intel's factory in ...
https://techxplore.com/news/2020-10-sk-hynix-bn-intel-memory.html
Oh my... While the pandemic is increasing the demand for new laptops and PCs, Dell has not been able to take advantage of the work-from-home computer sales boom for two quarters in a row.
The sales results are awful and worrying: https://www.fool.com/investing/2020/10/16/dell-missed-out-on-the-pc-sales-boom-again/
#news for Dynegy strike