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Layoffs

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CVS To Lay Off Nearly 3K Workers CVS To Lay Off Nearly 3K Workers
CVS To Lay Off Nearly 3K Workers CVS announced it will lay off nearly 3,000 workers as part of a cost-cutting move aimed at saving $2 billion. These approximately 2,900 layoffs, primarily in corporate roles in the company's CVS Health division, represent less than 1 percent of the company's workforce, CVS said.  "The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers,” a CVS spokesperson told CNN. The move comes a day after CVS management met with major shareholder Glenview Capital to discuss the company’s deficits and its dipping stock price, according to CNBC. Founded in…

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by Joe Lombardi
Business
New Gannett Layoffs Affect Hundreds Of Staffers Across Region, Nation New Gannett Layoffs Affect Hundreds Of Staffers Across Region, Nation
New Gannett Layoffs Affect Hundreds Of Staffers Across Region, Nation The largest newspaper publisher in the United States is once again starting another round of layoffs that will affect hundreds of employees across the country, according to multiple news outlets. Earlier Report - Gannett Lays Off Staffers Across Region, Nation Following $54 Million Quarterly Loss On Thursday, Dec. 1, Gannett started terminating the positions of around 200 employees in an effort to cut its news division staff of around 3,440 by six percent, according to Poynter.  The layoffs come only four months after the company terminated hundreds of employees in August following a nearl…

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by Ben Crnic
Business
Gannett Lays Off Staffers Across Region, Nation Following $54 Million Quarterly Loss Gannett Lays Off Staffers Across Region, Nation Following $54 Million Quarterly Loss
Gannett Lays Off Staffers Across Region, Nation Following $54 Million Quarterly Loss The largest newspaper publisher in the United States has laid off employees at newspapers across the country following a nearly $54 million quarterly loss, according to multiple news outlets. Gannett's layoffs on Friday, Aug. 12, impacted numerous newsrooms, according to a report from Poynter. Gannett has not released information on the number of employees who were laid off, how many of its 250 newspapers were affected, or whether there will be further staffing cuts. Gannett, which owns USA Today, reported a $53.7 million net loss in its second-quarter report. Adrian Szkolar, a producer a…

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by Nicole Valinote
News
747 Employees To Be Laid Off From People's United Bank's CT Locations 747 Employees To Be Laid Off From People's United Bank's CT Locations
747 Employees To Be Laid Off From People's United Bank's CT Locations More than 700 employees of People's United Bank's Connecticut locations are set to be laid off. The Connecticut Department of Labor reported that between Oct. 1 of 2021 and May 20, 2022, 747 employees will be laid off.  The news comes after the company announced a merger with M&T Bank Corporation. NBC Connecticut reported that officials said 661 of the layoffs will be in the Bridgeport area, 42 will be in the Hartford area. The layoffs will reportedly impact 16 locations.

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by Nicole Valinote
Business
Best Buy To Cut 5,000 Jobs, Close Stores As Customers Shift To Online Purchases Best Buy To Cut 5,000 Jobs, Close Stores As Customers Shift To Online Purchases
Best Buy To Cut 5,000 Jobs, Close Stores As Customers Shift To Online Purchases Best Buy is laying off thousands of workers as the retail giant plans to close some brick-and-mortar stores as the company transitions to focus on its e-commerce business. This week, Best Buy announced that it is laying off 5,000 employees this month with plans to close more stores this year after consumers concentrated on online shopping during the COVID-19 pandemic. According to the company, approximately 40 percent of its sales in the past year came from online purchases, up from 19 percent two years ago, forcing the retailer to transition its business model. While Best Buy laid off 5,0…

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by Zak Failla
Business
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men’s Wearhouse and Jos. A. Bank will close up to 500 stores and lay off 20 percent of its corporate workforce, the California-based company has announced.  Massachusetts and Connecticut combined have more than two dozen such stores. The company has not announced a timeline for closure. Although the company is yet to name which stores are subject to closure: Connecticut has Men’s Wearhouses and Jos A. Banks in over 12 communities including West Hartford, Danbury, Milford, Enfield, Meriden, Glastonbury, and Fairfield. In Massachusetts, shops for Men's Wearhouse and Jos. A. Bank can be…

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by Kristin Palpini
Business
COVID-19: Cheesecake Factory To Close Stamford Location COVID-19: Cheesecake Factory To Close Stamford Location
Covid-19: Cheesecake Factory To Close Stamford Location The Cheesecake Factory plans to permanently close a location in Fairfield County due to the economic impact of the novel coronavirus (COVID-19) pandemic. The closure of the restaurant, located at the Stamford Town Center Mall on Tresser Boulevard, will result in the loss of about 100 jobs and is effective at the close of business on Sunday, Aug. 1. In a Worker Adjustment and Retraining Notification ("WARN") Act filing dated Friday, June 26, the company wrote: "Business conditions rapidly and suddenly deteriorated during the continuing COVID-19 crisis, national emergency, and …

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by Joe Lombardi
Business
Subway To Eliminate 300 Jobs At Headquarters In Milford Subway To Eliminate 300 Jobs At Headquarters In Milford
Subway To Eliminate 300 Jobs At Headquarters In Milford Hundreds of people will be out of a job in Connecticut as Subway announced its reducing staff at its Milford headquarters. The popular sandwich shop just announced that it will be laying off approximately 300 people as it continues to face increased competition from other restaurants. Cuts came to multiple departments, impacting approximately 30 percent of the headquarters’ workforce. Subway got its start in Fairfield County, with a single shop in Bridgeport. It now boasts more than 40,000 locations worldwide, making it the largest fast-food company in the world based on the number of loc…

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by Zak Failla
Business
Dozens Of Popular Hosts Among iHeartRadio Layoffs, Dealing Blow To Local Radio Dozens Of Popular Hosts Among iHeartRadio Layoffs, Dealing Blow To Local Radio
Dozens Of Popular Hosts Among iHeartRadio Layoffs, Dealing Blow To Local Radio Dozens of popular and prominent radio hosts across the country were the victims of layoffs at iHeartMedia, the company announced. IHeartMedia, which proclaimed itself “the No. 1 audio company in America” and owns more than 850 radio stations, announced the reorganization as a way to group its markets “by common needs and characteristics” into three divisions, the company said in a release. It is unclear how many of the company’s 12,500 employees were laid off. The layoffs came the day after iHeartMedia announced it would be promoting nine executives to serve as division presidents under the…

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by Zak Failla
Business
Settlement Of Dolan Family's Lawsuit Against Altice Keeps News 12 Staffing At Current Level Settlement Of Dolan Family's Lawsuit Against Altice Keeps News 12 Staffing At Current Level
Settlement Of Dolan Family's Lawsuit Against Altice Keeps News 12 Staffing At Current Level At the 11th hour, the Dolan family, the former owners of Cablevision before it was sold to Altice USA, reached a settlement in a lawsuit regarding layoffs and staffing at News 12 with the new parent company for the 24-hour hyperlocal news network. News 12 will employ at least 371 full-time employees through February 2023 under the agreement, ending a yearlong dispute by the Dolans, who sought a minimum of 462. Altice acquired News 12 when it took over Cablevision three years ago. The lawsuit alleged that Altice had not operated the news company in compliance with the agreement of the deal. …

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by Zak Failla
Business
Lowe's To Lay Off Thousands Of Employees, Outsource Some Positions To Third Parties Lowe's To Lay Off Thousands Of Employees, Outsource Some Positions To Third Parties
Lowe's To Lay Off Thousands Of Employees, Outsource Some Positions To Third Parties Thousands of Lowe’s employees will soon be out of a job as the home improvement retail giant reshuffles positions. Lowe’s announced that it is planning to outsource the jobs of maintenance and assembly workers to third-party companies, including workers that put together certain items such as grills and wheelbarrows. The news of layoffs was first reported by the Wall Street Journal. It is unclear exactly how many employees are being laid off, but it is expected to be in the thousands. The company currently employs approximately 300,000 people in 1,725 stores nationwide. The layoffs come a…

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by Zak Failla
Business
Altice Says Lawsuit By Dolan Family, News 12 Anchor 'Without Merit' Altice Says Lawsuit By Dolan Family, News 12 Anchor 'Without Merit'
Altice Says Lawsuit By Dolan Family, News 12 Anchor 'Without Merit' Altice USA issued a detailed response to Thursday's story by Daily Voice about a lawsuit filed this week by the Dolan Family and a longtime News 12 anchor to prevent Altice from laying off more workers at News 12. Janet Meahan, senior director of communications for Altice USA, said: “This lawsuit is without merit and paints an extremely inaccurate representation of our business. It is also surprising that the Dolan family would now challenge the strategic and organizational decisions that Patrick Dolan led during his 2 1/2 years with the company as President of News 12.  "Altice USA co…

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by Jon Craig
Business
New Lawsuit Links IBM’s ‘Millennial’ Reinvention To Age Bias New Lawsuit Links IBM’s ‘Millennial’ Reinvention To Age Bias
New Lawsuit Links IBM’s ‘Millennial’ Reinvention To Age Bias After another round of company-wide layoffs this spring, IBM is being sued in federal court for age discrimination, according to multiple reports.A lawsuit filed against the Armonk-based IBM by Jonathan Langley, 60, of Texas claims that in the international company's push to hire millennials and make money, the company let go of more experienced but costlier "gray-hairs." Millennials are defined as the generation born after 1980. According to this lawsuit, Langley was fired last June as director of sales in IBM’s Hybrid Cloud business unit, based out of Austin. According to a ProP…

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by Jon Craig