Free Subscription to CFO Magazine

Corporate Performance

You are here: Home : Topics A-Z : Corporate Performance

Layoff Report: Banking, Bottling, and Boeing

Announcements come from BNY-Mellon, WaMu, Pepsi Bottling, Boeing, Harrah's, Akamai, Lawson Software, Pilgrim's Pride, Sara Lee.

November 21, 2008

Bank of New York Mellon Corp. said it would eliminate 1,800 positions, or 4 percent of its worldwide workforce of 43,000, continuing a week of job losses across a range of industries.

"It has become clear that we need to take additional steps beyond our merger synergies to reduce expenses, given the current weakness in the global economy," said BNY-Mellon Chairman and CEO Robert P. Kelly. "We will take advantage of natural turnover to lessen the impact on existing staff." Read more...

Follow this topic

More Corporate Performance Articles

  • Icons No More

    Motorola and Sun: Two once-mighty technology firms need to take radical measures. November 11, 2008

  • Surviving the Crash

    Ford and GM announce huge losses, as American carmakers lurch from disaster to disaster. November 10, 2008

  • How Will Obama Tax Business?

    Aside from his vow to trim the oil-company breaks, experts find the president-elect's approach puzzling. And it may be quite a while before a strategy becomes clear. November 6, 2008

  • Ten Top Earnings-Call Questions

    As the financial crisis makes companies water down their guidances, analysts and investors hit CFOs with a new level of adversarial probing. November 5, 2008

  • Top Concerns of CFOs

    CFOs worry about consumers, credit, and volatile markets. November 1, 2008

  • Approaching Zero

    With rates down to 1 percent, the Fed may next try more unconventional steps. October 30, 2008

  • Departing CFO Cites P&G's Crisis Resilience

    Clayton Daley, who hands over the post to John Moeller on Jan. 1, uses the earnings-call forum to discuss how the consumer-product giant's range of products helps it in a downturn. October 29, 2008

  • Follow the Money

    GM and Chrysler: Merging the two sickly car firms makes little sense — except for one thing. October 23, 2008

  • Flying Through a Storm

    Oil prices are falling but airlines still have much to worry about. October 22, 2008

Print Edition

Going, Going, Gone

Lehman's bankruptcy could be the tip of an iceberg of big-company Chapter 11 filings.

advertisement

advertisement