layoffs

Let’s say you own a house and have a mortgage. And you’ve been laid off, furloughed, had your pay cut or your hours reduced at work because of the coronavirus panic. You are in a jam. So you are hoping for what is called “forbearance” on the mortgage payments, which in simple terms means your …

Tribune Publishing, the parent company of the Chicago Tribune, the New York Daily News, and the Baltimore Sun, late Thursday said it was asking employees across the company to take pay cuts ranging from 2 percent to 10 percent. Unionized shops within the company are being asked to take a 4.5 percent pay cut, according …

Yelp is in for some new criticism — from axed employees and investors. The popular review website is laying off or furloughing more than 2,000 workers due to economic strain from the coronavirus pandemic, CNBC reported on Thursday. The company has already cut executive pay by 20 to 30 percent, reduced server pay and deprioritized …

More than 6.6 million people applied for unemployment benefits last week as the coronavirus crisis put nearly 17 million Americans out of work in just three weeks, new federal data show. Last week’s seasonally adjusted total added to an unprecedented surge in initial jobless claims as the pace of filings barely slowed from a record-shattering …

First, the good news for some workers in the hospitality business. In fact, this might be the only good news you can find these days in that industry. A relatively new company called Better.com, headquartered downtown at 3 WTC, is in the process of hiring an army of new workers. And that army is going …

Nissan and Honda on Tuesday said they had furloughed thousands of workers at their US operations as the coronavirus pandemic slashes demand for cars in the country. A spokesman for Honda, which employs about 18,400 workers at plants in Alabama, Indiana and Ohio, said the Japanese automaker would guarantee salaries through Sunday, having suspended operations …

Formula One has put almost half its staff on furlough until the end of May due to the novel coronavirus with chairman Chase Carey and senior management also taking a pay cut, an F1 spokesman said on Tuesday. Sources said those on furlough were mainly employees whose work was race-weekend focused and who could not …

RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from US Treasury for government assistance. The Trump administration is weighing applications from numerous airlines as it considers how to disburse $25 billion in passenger airline grants, $4 billion for …

Pan-dammit, the employment numbers for March were truly shocking! That doesn’t understate what can be said about the employment report for last month that was released by the Labor Department Friday morning. It was so shocking, in fact, that it’ll make the experts reconsider how bad the job numbers are going to get in the …

Boeing Chief Executive Dave Calhoun outlined a plan of voluntary layoffs for employees on Thursday, while warning that the coronavirus pandemic would have a lasting impact on the global aerospace industry. Under the plan, eligible employees who want to exit the company will be offered pay and benefits package, Calhoun said in a memo. “We’re …