City Hall and the teachers’ union worked together to avert catastrophic layoffs of teachers a few months ago. Too bad the union representing support staff in the schools couldn’t figure out a way to repeat that success.
As a result of District Council 37’s short-sightedness, some 672 people are out of work. They received layoff notices a few days ago. Schools Chancellor Dennis Walcott expressed his sorrow over the plight of the laid-off workers, but he made it clear that the union was not so sympathetic. Had its leaders tried harder to find other savings, the layoffs would not have been necessary.
The Chief-Leader captures some good vitriol at a recent UFT protest aimed at reversing Mayor Bloomberg’s proposal to lay off thousands of teachers.
Democratic City Councilman James Sanders said “we need to take this surplus” and “make sure we save the teachers.” The surplus, as I and other people have noted, don’t Read More
Approximately 650 Yahoo employees may be losing their jobs. The reports of impending layoffs come amid rumors that the search engine giant and content provider may merge with AOL.
Techcrunch first broke the news in a post that said the company would be giving the axe to about 20 percent of their Read More
Gargantuan hedge fund The Man Group is looking to trim its payroll by about 200 people, The Wall Street Journal reports. The main mechanism for the cuts will be layoffs, although attrition will also play a part, a source told The Journal.
The Man Group bought GLG Partners earlier this month, following a Read More
As the idea of a slowdown for Wall Street’s big players crystalizes, Bank of America is gearing up to lay some people off, according to a report by Fox Business’ Charlie Gasparino.
The cuts are neither very deep nor very wide, according to the report; 5 percent of workers Read More
Update: Zero Hedge blogger “Tyler Durden” questions the reported unwinding of JPMorgan Chase’s prop-trading operations, pointing to JPMorgan’s recent acquisition of energy prop-trading operation Sempra and the firm’s naming of a new head of commodities strategy.
In an effort to comply with new restrictions articulated by the so-called “Volcker rule,” behemoth Read More
The New York Times announced that it’s all but a done deal that the paper will have to layoff staffers in the newsroom.
The drop-dead deadline is fast approaching for the staffers in The New York Times newsroom to raise their hand and volunteer for a buyout. An internal memo from the paper’s assistant managing Read More
Today is a grim day at CBS interactive. According to a source at the CBS broadcast center, all day long, people have been walking out of the building on West 57th Street with their work possessions packed up in boxes.
At least ten people have been laid off, according to the source. The cuts seem to Read More