The Greek parliament approves 15,000 civil service layoffs in return for more EU/IMF bailout money, as hundreds protest in the streets outside.
Read more: Greek MPs vote through mass job cuts
Category : Business
Beware Wall Street, more banks are expected to follow Citigroup and Morgan Stanley in announcing major layoffs in the coming month.
Originally posted here: Hey Wall Street, get ready for more layoffs
General Workers’ Union says strikes are to protest against ‘unnecessary layoffs’
Unions representing most workers at the Spanish airline Iberia said on Thursday that they would stage six days of strikes immediately before the Christmas holidays in a protest against the company’s plans to lay off 4,500 staff.
The stoppages by Iberia ground staff and cabin crews will be held on 14 December and from 17-21 December.
Francisco Rodriguez, of the General Workers’ Union, Spain’s largest, said the strikes were to protest against the “unnecessary layoffs”.
International Airlines Group, the merged British Airways and Iberia, plans to cut 23% of the Spanish company’s staff, saying the carrier is “in a fight for survival”. The pilots’ union, Sepla, is not among the six unions backing the strike.
Revenue in a number of Citi’s I-banking businesses plunge 40% and the possibility of layoffs is growing.
Read more here: Citigroup earnings: More bad news for investment bankers
Category : Stocks
By Christina Cheddar Berk, News Editor
NEW YORK (CNBC) — Flash-sale websites such as Gilt Groupe and Ru La La were hailed as disruptors in the ecommerce space, but recently there’s been a bit of a disruption in their success story, prompting some to wonder if flash-sale sites are more of a marketing gimmick than a sustainable business model.
The sector, while still growing, is being shaken up by consolidation, layoffs and slowing growth rates. Many industry analysts suspect that will continue unless flash-sale sites adapt. …
See the article here: Time for Flash Sales to Adapt or Die
Category : World News
Administrators for Rangers said Friday several players have agreed to cut their salaries by up to 75 percent in an effort to help save the financially stricken Scottish club.
Joint administrator Paul Clark did not disclose the names of the players or how many have agreed to the cuts, but said the measure will help prevent more layoffs at the club this season.
View post: Pay cuts OK’d for ailing Rangers
Category : Stocks
AOL has shut down Brizzly, a web-based social media sharing client it acquired less than 18 months ago, claiming it wants to focus its resources on its once-dominant AIM instant messaging platform. The news comes a day after it was reported AOL will soon conduct major layoffs. 
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Lower profits and layoffs resulted in Wall Street bonuses falling by nearly $3 billion last year to their lowest level since the 2008 financial crisis.
More: Average Wall Street bonus drops to $121,000