ESPN is an extremely profitable company and recently made two very expensive deals for television rights to tennis and college footbal. And yet, on Tuesday the network had its first round of layoffs since 2009. So what gives?
Well you had to see this coming, sadly: HP has decided to do a little housecleaning at Autonomy, the company it acquired that it claims led to that huge $8.8 billion loss still shaking the tech giant.
Citigroup announced a massive round of cuts this morning through a press release that seems to go out of its way to make no sense. One commenter thought she was reading Dilbert for a second.
The "repositioning action," as they so eloquently put it, comes as the bank isn't doing well overseas and looks to get out of some less profitable emerging markets.
In all the noise created by today's Apple event, Zynga attempted to quietly lay off 100 people without anyone noticing. Kind of like a Friday afternoon news dump, but with new iPads. Unfortunately for them, it didn't work.
Ugh, the worst thing about Fridays is that's when people usually get fired or laid off, as happened to several key writers at the Village Voice this afternoon, according to The New York Observer's Foster Kamer.
After buying Motorola for its patents one year ago, Google has announced that it will cut 4,000 jobs and close one third of its 94 offices, hoping to turn the company around.
In the harshest referendum yet about the success of News Corporation's tablet newspaper The Daily, the publication, which launched in 2011, is laying off 50 of its 170 employees, All Things Digital's Peter Kafka reports.
Mitt Romney was still making decisions at Bain Capital, and still getting paid for it, for at least three years longer than he's previously said, the Boston Globe reported on Thursday.
In the latest news from what once was One of the Great American Newspapers: A Times-Picayune reporter writes a (justifiably angry) letter to the paper's publishers; Several of the paper's renowned, award-winning reporters decline offers from the newly configured NOLA Media Group.
Cellphone maker Nokia announced it will lay off another 10,000 workers by the end of next year as the company continues to fall behind in the global smartphone war.
The latest round of layoffs at Goldman Sachs was small, just 50 staffers, but it was notable for who got cut: not rank-and-file workers but some people with big titles and, of course, big bonuses.
Bank of America's plans to trim its workforce are nothing new, but the surprising thing about Tuesday's news of 2,000 layoffs in addition to the 30,000 the bank already announced is who the new cuts target: The bank's own top 1 percent of workers.
Whatever factors are contributing to the recent U.S. job growth, Yahoo's clearly not one of them, as the firm announced on Wednesday that it was cutting 2,000 jobs, or 14 percent of its workforce.
Sure, everybody had fun mocking bankers for complaining about losing their bonuses last week, but the high-finance types just got some legitimately troubling job news: A new estimate from a New York City budget watchdog says bonuses on the street fell by 25 percent, and lots of layoffs are just around the corner.
Irony alert: Monster.com says it's cutting 7 percent of its workforce (that's 400 jobs) after a crummy fourth quarter and dropping share prices.
With rumors circulating of impending layoffs this morning, Business Insider confirms that 5 to 6 percent of the Gilt Groupe's workforce is going to be let go.
'Layoff' is an understandably dirty word around The New York Times newsroom(s) these days.
The U.S. Postal Service is preparing to announce to cuts of up to $6.5 billion a year from its overwhelmed budget, including a reduction of the speed of first-class mail, making it impossible for normal mail to be delivered in one day.
Times are tough if you happen to work at one of Village Voice Media's alt-weeklies, especially if you happen to hold the position of assistant calendar editor, which the chain of alt-weeklies has eliminated entirely.
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