The number of planned layoffs at U.S. firms in January rose 20 percent from the previous month to 38,519, but the tally was still the lowest for a January since at least 1993, according to a report released on Wednesday. Get the full story »
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Lake County braces for Abbott cuts
Lake County officials are bracing for the loss of more than 1,000 jobs at the Abbott Laboratories headquarters near North Chicago. Today, one county board member called the job losses “tragic,” and the chairman said he was “upset, disturbed and alarmed.”
The job cuts in Lake County are more than half of the company’s national cuts slated for the next two years. The blow could be particularly hard in Lake County because Abbott Inc. is its second largest employer — with about 15,700 workers, according to statistics compiled by Lake County Partners. Get the full story »
Disney confirms layoffs in video game unit
The Walt Disney Co. is confirming layoffs amid a restructuring of its video game division, a money-losing unit that is focusing more on mobile and social games and away from expensive-to-produce console games.
The company didn’t specify the number of people affected, however. Get the full story »
Construction hiring may rise this year
Hiring for construction jobs may be on the rise this year, after a severe downturn in the industry in 2010, and Illinois may be among the states where hiring is likely to improve.
A new study released Monday showed that 27 percent of construction firms nationally said they planned to add staff this year, while 20 percent plan layoffs. Get the full story »
Firms with hiring plans highest in a decade
Industry economists say the U.S. economic recovery is gaining strength, with more firms expressing positive hiring plans than in over a decade.
A new survey from the National Association for Business Economics finds that economists are more hopeful about overall economic growth, the job market and demand for companies’ products and services by many measures than they have been since the start of the Great Recession. Get the full story »
Illinois unemployment falls to 9.3% in December
From the Chicago Sun-Times | The unemployment rate in Illinois fell to 9.3 percent in December from 9.6 percent in November, the ninth straight decline. But the state lost 9,400 jobs over the month, the Illinois Department of Employment Security said Friday.
The rate is down from 11 percent in December 2009. Over the year, the state added 46,300 jobs. Get the full story>>
U.S. jobless claims fall more than expected
U.S. initial jobless claims fell more than expected last week and showed their biggest decline since February, in a hopeful sign for the U.S. labor market. The number of Americans filing for first-time unemployment benefits dropped sharply to 404,000 from a downwardly revised reading of 441,000 in the prior week, the Labor Department said on Thursday. Get the full story »
Tour of Rockford, a job-starved city
From the New York Times | Few American cities have suffered as acutely as Rockford, where unemployment reached nearly 16 percent last summer, says the New York Times in a photographic tour, with audio interviews, through its stores, factories and offices. Get the full story>>
Career Ed to cut 600 jobs in latest cost reduction
Career Education Corp. said Wednesday that it will cut its U.S. work force by 7 percent, or 600 positions, as the for-profit educator looks to reduce costs in the face of slowing enrollment growth.
The company, whose schools include Le Cordon Bleu North America and American InterContinental University, said the reductions will roll out over the next few months. Career Education will book a charge of up to $8 million in its fiscal fourth quarter on severance and related costs. Get the full story »
American Express to cut 550 jobs in restructuring
American Express Co. said Wednesday that it will cut about 550 jobs as part of restructuring efforts. At the same time, the company also projected fourth-quarter earnings that slightly missed Wall Street estimates.
Shares recently fell 2.5 percent, to $45.21. Get the full story »
AM General cutting 300 jobs in Northern Indiana
AM General plans to lay off 300 workers from the northern Indiana factory that makes Humvees for the military. Get the full story »
Staff cuts continue at Pioneer Press newspapers
Tower Ticker | Sun-Times Media’s Pioneer Press group of weekly suburban newspapers has continued to reduce its workforce, including elimination of nine editorial positions in recent days.
Eight newsroom staff members were let go, while another retired and will not be replaced, sources said. Five were reporters and the retiree was an editorial assistant. The others were said to include page designers and a Web content manager.
Jeremy Halbreich, chief executive and vice chairman of Sun-Times Media, was unavailable for immediate comment.
McPier plans to cut most of staff
From Crain’s Chicago Business | The agency that runs McCormick Place and Navy Pier will cut more than half of its corporate staff as it splits off management operations of Navy Pier and turns over management of McCormick Place to a private operator.
Weekly jobless claims jump most in 6 months
U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.
The number of Americans filing for first-time unemployment benefits rose to 445,000 from an upwardly revised reading of 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000. Get the full story »
