Job Cuts | featured news

Johnson & Johnson will eliminate about 6 percent to 7 percent of its global workforce, or some 7,000 to 8,000 positions, as the diversified healthcare company restructures and seeks cost savings, the company said on Tuesday.

Signaling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut $100 million from costs, including another big round of layoffs.

Caterpillar, the world's largest maker of construction and mining equipment, says it will permanently cut 2,500 jobs.

Internet giant Yahoo sees its third quarter profits more than treble - despite sales falling by about 12% - as it slashed costs.

The New York Times said on Monday it would cut 100 newsroom jobs through buyouts or layoffs as it tries to counter lost advertising revenue.

A net 263,000 jobs were eliminated in September, pushing the jobless rate to a 26-year high. Stocks fall on the news. The nation's labor market took a turn for the worse in September as employers eliminated a net 263,000 jobs, far more than expected and reversing a pattern of steadily declining payroll losses in recent months, the Labor Department said today.

An index measuring the expectations of 107 CEOs from among the nation's largest companies was at its highest level this year, with more than half expecting sales to grow in the next six months - but their outlook for capital spending remained stagnant, and 40 percent predicted more job cuts....

Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that's happened since the 1980s....

Even as the July numbers came in better than expected, the job market remains shaky in the months ahead.

Continental Airlines posted a big loss for the second quarter as traffic fell, and the carrier says it will cost 1,700 jobs and raise the fee for checking luggage.