Tag:

Cost Cutting

Windsor Locks, CT
Business
Spirit Airlines Files For Second Bankruptcy In Less Than A Year: What To Know Spirit Airlines Files For Second Bankruptcy In Less Than A Year: What To Know
Spirit Airlines Files For Second Bankruptcy In Less Than A Year: What To Know Spirit Airlines has filed for bankruptcy for the second time in less than a year, underscoring the financial crisis facing the nation's largest budget carrier. Spirit announced the Chapter 11 bankruptcy filing in a news release on Friday, Aug. 29. The Dania Beach, Florida-based airline previously emerged from bankruptcy in March, after Spirit shed nearly $800 million in debt and secured $350 million in new equity. The filing came less than three weeks after Spirit executives admitted there is "substantial doubt" about the company's ability to survive another 12 months without…

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by Chris Spiker
Bristol, CT
Business
Disney Cutting Hundreds Of Jobs In Latest Wave Of Layoffs: Reports Disney Cutting Hundreds Of Jobs In Latest Wave Of Layoffs: Reports
Disney Cutting Hundreds Of Jobs In Latest Wave Of Layoffs: Reports Hundreds of employees across Disney's television, film, and corporate finance divisions are being laid off as the company continues a sweeping cost-cutting effort, according to reports. The Walt Disney Company began laying off "several hundred" employees worldwide on Monday, June 2. The layoffs were first reported by Deadline. Most of the layoffs hit Disney Entertainment, including its film and TV marketing, television publicity, casting, and development divisions. Corporate finance teams were also affected, the report said. Although no entire teams will be eliminated, the job cuts ar…

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by Chris Spiker
Hartford, CT
Business
UPS Slashing 20K Jobs As Amazon Deliveries Drop, Trump's Tariffs Bite UPS Slashing 20K Jobs As Amazon Deliveries Drop, Trump's Tariffs Bite
UPS Slashing 20K Jobs As Amazon Deliveries Drop, Trump's Tariffs Bite UPS will eliminate about 20,000 jobs throughout 2025 as part of a major cost-cutting plan fueled by a decline in Amazon shipments. The Atlanta-based shipping giant revealed the job cuts in a regulatory filing on Tuesday, April 29. UPS also plans to close 73 buildings by June as the company aims to save $3.5 billion by the end of 2025. CEO Carol Tomé said UPS is working to adapt to more difficult economic conditions for shippers due to President Donald Trump's sweeping tariffs. "As a trusted leader in global logistics, we will leverage our integrated network and trade expertise to assi…

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by Chris Spiker
Hartford, CT
Business
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS is rolling out a new wave of smaller-format pharmacies in select communities nationwide as it tries to adapt to changes in the retail world. CVS plans to open at least a dozen of these compact pharmacies nationwide in 2025, a spokesperson confirmed to Daily Voice on Monday, Mar. 10. The pharmacy-only locations aim to improve access to medications, immunizations, and pharmacist-provided health care services. Each location will average less than 5,000 square feet, with a full-service pharmacy and a limited selection of over-the-counter products tailored to a community. "By taki…

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by Chris Spiker
Lawrence Township, NJ
Business
Pharmaceutical Company Laying Off 290 Lawrenceville Workers Amid Massive Cost-Cutting Push Pharmaceutical Company Laying Off 290 Lawrenceville Workers Amid Massive Cost-Cutting Push
Pharmaceutical Company Laying Off 290 Lawrenceville Workers Amid Massive Cost-Cutting Push Nearly 300 employees in Lawrenceville will lose their jobs as part of a pharmaceutical company's major cost-cutting measures, officials said. Bristol Myers Squibb will lay off at least 290 employees in 2025, according to a Worker Adjustment and Retraining Notification (WARN) notice in February. A company spokesperson confirmed the layoffs to the Daily Voice on Monday, Mar. 3. The company will begin 223 of those layoffs on Thursday, May 22, and continue them through Friday, Aug. 1.  "We are optimizing operations across the company while prioritizing investments in innovative and t…

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by Chris Spiker
White Plains, NY
Business
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
Harrison, NY
News
Snail Mail? New USPS Standards To Delay Some Delivery Times Now Set To Start Snail Mail? New USPS Standards To Delay Some Delivery Times Now Set To Start
Snail Mail? New USPS Standards To Delay Some Delivery Times Now Set To Start The new service standards that could slow down some United States Postal Service delivery times are set to go into effect. Postmaster General Louis DeJoy's plan includes slowing the delivery of first-class mail in an effort to cut costs.  Forbes reported that the new standards will go into effect on Friday, Oct. 1.  The news outlet said first-class mail will be transported by trucks instead of airplanes in the new plan. DeJoy previously said that the goal is to ensure the long-term financial stability of the post office. The plan has received criticism from the US Postal Servic…

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by Nicole Valinote
Edison, NJ
Business
Bed Bath & Beyond Cutting Nearly 3,000 Jobs Starting Immediately Bed Bath & Beyond Cutting Nearly 3,000 Jobs Starting Immediately
Bed Bath & Beyond Cutting Nearly 3,000 Jobs Starting Immediately Bed Bath & Beyond will cut nearly 3,000 jobs under a plan to cut costs and streamline operations. Jobs will start to be eliminated immediately, the company said in a statement on Tuesday, Aug. 25. "In conjunction with the organizational realignment, the company has implemented a significant workforce reduction of approximately 2,800 roles from across its corporate headquarters and retail banner stores, effective immediately," the statement said.  "This action is designed to further reduce layers at the corporate level, significantly reposition field operations to better serve…

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by Joe Lombardi
White Plains, NY
Business
Avon Laying Off 100 Workers, Closing Operations In Westchester Avon Laying Off 100 Workers, Closing Operations In Westchester
Avon Laying Off 100 Workers, Closing Operations In Westchester Avon Products Inc. announced it is laying off about 100 employees in its Rye data center, closing the rest of the Rye operations over the next year and consolidating U.S. operations in Suffern. Avon CEO Jan Zijderveld cited the company’s international focus in a press release, attributing the actions to a strategy of “simplifying our U.S. operations,” “providing fuel for growth” and becoming “more fit for purpose.” A state Department of Labor notice put the number of data center employees being affected at 105. Their work in Rye will cease by the end of this month, and their jobs will be ph…

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by Daily Voice