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layoffs RSS feed Tag: layoffs

A Graphical Look at What’s Happened to America’s Jobs

by Jun 10, 2014, 12:06 am ET

Times - Mixed RecoveryWhen the U.S. Bureau of Labor Statistics released its May employment report Friday, it marked a recovery milestone. Six years and five months after the recession began, the U.S. has finally recovered 8.7 million jobs lost through the recession’s official end in February 2010.

The 138.463 million jobs in May exceeds January 2008′s 138.365 million by 100,000.

While certainly good news, the recovery and job creation has been uneven. In a remarkable series of interactive charts, The New York Times graphically illustrates the mixed nature of the recovery. Industry by industry, using BLS data The Times shows how both the number of jobs has changed, as well as the average salaries. keep reading…

Why Boomerang Rehire Programs Rank #2 in Producing High-quality Hires

by May 19, 2014, 12:01 am ET

Screen Shot 2014-05-15 at 1.22.15 PMOther than referrals from your top-performing employees, it’s hard to find a corporate recruiting source with a higher quality of hire (i.e. on-the-job performance) and a higher ROI than boomerang rehire programs. If you’re not familiar with the term, a “boomerang rehire” is a former top-performing employee who you rehire after an absence of a few years. I rank them No. 2 in new hire quality and they also produce significant volume of hires (CareerXroads ranks them N0. 6 in volume, after college hires).

Although boomerang programs have been around for years. In the past they were a bit of a burden because if you wanted to find and keep in touch with your former top-performing employees, you had to put together and maintain your own corporate alumni group. Fortunately today with the tremendous growth of LinkedIn, you can now easily find out where any former employee works. That makes this source among the easiest to find candidates. Updating their LinkedIn profile can also signal to you that they are probably once again considering a move to their next firm, which provides you with an opportunity to reach out to them and ask them to consider returning.

Other firms now build a simple online talent community group and maintain relationships through text or e-mail. The benchmark firms in boomerang rehiring programs include Deloitte, Ernst & Young, Booz Allen, Bain, and DaVita, which has reached as high as 16 percent of its hires coming from its impressive “you are always welcome here” boomerang program.

Why Boomerang Rehires Are Such High-quality Hires keep reading…

Bank’s Jobs Toolkit Is For Its Customers

by Jul 9, 2013, 1:23 pm ET

ftb-basicHere’s one I don’t see often: a job-seeking toolkit put together for customers of a company. keep reading…

A Quick Look at U.S. Cellular’s Portal for Departing Employees

by May 24, 2013, 6:38 am ET

logo-uscU.S. Cellular is helping employees losing jobs in the sale of some segments of its business to Sprint by setting up a transition portal.

A recruitment advertising/communications agency called Shaker helped develop the portal, aimed at 765 “associates” impacted; Kensington International, an outplacement firm, also partnered.

U.S. Cellular is also working with a group called Skills for Chicagoland’s Future. It’s a non-profit that provides placement and training services.

Back to the portal: it includes information on negotiation strategies; resume and cover-letter tips; interviewing assistance, and social networking guides. Let’s take a brief look inside. keep reading…

Nerdery Needing a Few Fewer Nerds

by Feb 19, 2013, 1:13 pm ET

logo_nerderyYou may remember my post just last November about a company called The Nerdery.

The Minnesota company was trying to “drive 100 programmers to their rightful home.”

A quick update on that 100-nerds-in-100 days hiring spree: keep reading…

California/Nevada Job-seeker Group Raising Money From the Crowd, Online

by Jan 10, 2013, 6:08 pm ET

Screen Shot 2013-01-10 at 2.35.42 PMMore evidence of the use of the crowd and the cloud in the employment field: A small group of California and Nevada job seekers is turning to an online “crowdsourcing” site to raise money for their candidate community. keep reading…

Terminations: A True Test of Your Company Culture

by Dec 19, 2012, 5:58 am ET

All of us have heard about messy terminations, and some of us have witnessed them firsthand. The most memorable are the employee who is escorted from the building, scowling at managers on the way out, or the guy who punches a hole in the conference room drywall in a fit of frustration. There’s also the person who quits without confrontation or communication, packing up their things when nobody’s watching, and leaving an “I Quit!” note for their supervisor.

The circumstances around other terminations are just plain awkward, and when you see the ex-employee in the grocery store, you unknowingly head to the Tampax aisle (even though you’re a single guy) just to avoid the conversation.

How can you avoid ugly terminations? Here are four suggestions for building the right culture: keep reading…

Layoffs At Monster Worldwide

by Dec 5, 2012, 10:49 am ET

Monster Worldwide laid off an undisclosed number of workers Tuesday, and closed its operations in Brazil and Mexico.

One report put the number at 800, while a Twitter post simply described it as “massive.” keep reading…

Happy Cities, Yahoo, and Background Checks in the Roundup

by Mar 9, 2012, 10:07 am ET

Calling all tech industry recruiters. Get ready to pounce. Yahoo, as we presume you’ve heard, is about to dump thousands of its employees.

Exactly who is going isn’t known publicly, though reports (all stemming from the original article on All Things D) say CEO Scott Thompson has targeted “public relations and marketing, research, marginal businesses and weaker regional efforts.” Will engineers be among those laid off? Very likely, since they’ve been a part of each of the preceding five layoffs.

Get busy reaching out now, before everyone else does. And you do know how to find these people, right?  You could start here.

Happy City; Sad City

Never let it be said that we can’t be suckered by a little PR stunt. This one, though, got our attention with lists of the happiest and unhappiest U.S. cities in which to work. keep reading…

ADP Says Private Sector Jobs Continued Slow Growth in August

by Aug 31, 2011, 1:23 pm ET

If you subscribe to the notion that any growth in jobs is good, then today’s report from ADP will be encouraging. The payroll processor said 91,000 new private sector jobs were created in August.

That’s still less than the 100,000 economists were expecting, and it’s about a third of what the U.S. needs each month to bring down the unemployment rate.  The company, and Macroeconomic Advisers, its partner in the monthly report, also adjusted downward its July estimate to 109,000 from the original 114,000.

In ever-so-cautious language, the report says that the slow job growth in August is “at a pace below what would be consistent with a stable unemployment rate.” That means that should the trend continue, unemployment may rise.

Economists expect that when the official employment numbers are released Friday by the U.S. Department of Labor, they’ll show the 9.1 percent unemployment rate unchanged. New jobs are expected to be somewhere in the neighborhood of 75,000 (Bloomberg News) to 80,000 (Dow Jones Newswires). keep reading…

These Are Real Lives We’re Dealing With

by Jul 28, 2011, 12:52 am ET

I received some sad news yesterday. A friend committed suicide. He was despondent because he had been unemployed for over two years. He likely had other emotional problems. After years of looking for work, getting rejected or ignored, and financial difficulties, he gave up.

This isn’t uncommon. Joblessness increases the risk of suicide.

And yesterday, the New York Times ran an article about companies that discriminate against the unemployed.

As recruiters, our routine actions can be a direct blow to the emotional health of hundreds — even thousands — of people we’ll never meet. Our inaction, our silence, our casual attitudes, can add to someone’s set of worries. Our decisions impact families. Lives.

Stop. Think. Before dismissing entire categories of people. Our economy, this job market — they are complex. Simplistic thinking (e.g., “all the good ones are working”) doesn’t hold up. “Unemployed” is an easy filter to apply. Just like “years of experience.” Only junior recruiters and rookie managers rely on such criteria to assess talent.

Real recruiters and real managers ask: keep reading…

June Not a Complete Loss, But July Gets Cisco Layoff Rumors

by Jul 12, 2011, 5:20 pm ET

Layoff news today about Cisco and and better news from The Conference Board.

The latter says June wasn’t the complete disaster it might seem from the employment numbers released last week by the U.S. Department of Labor. Unemployment may have ticked up to 9.2 percent and only 18,000 jobs may have been added to the economy, but slight though it was, The Conference Board’s Employment Trends Index improved.

The .5 increase — from May’s revised 99.5 to June’ 100 — is due to improvement in three of the eight components that make up the Index. The decrease in initial unemployment claims filings, the percentage of firms with positions they can’t fill, and the forecast of manufacturing and trade sales from the U.S. Bureau of Economic Analysis.

The Index, which was out yesterday, takes into account some of the monthly employment data from the U.S. Bureau of Labor Statistcs. But even with those lower-than-expected numbers, the Index was essentially stable. It was designed to smooth out the impact of the individual elements.

“The behavior of the Employment Trends Index in recent months is consistent with weak job growth, rather than an outright decline,” explains Gad Levanon, associate director, Macroeconomic Research at The Conference Board.

However, he added this ominous caution: keep reading…

ADP Says Economy Job Growth Gaining Momentum

by Mar 30, 2011, 1:25 pm ET

Payroll processor ADP reported this morning that the U.S. added 201,000 private sector jobs in March, an estimate that bolsters expectations that Friday’s government jobs count will show an equally positive increase in hiring.

The estimate, based on payroll data from ADP’s half-million employer clients, is slightly lower than the 205,000 average of economists’ predictions. However, it is the second consecutive month of 200,000-plus private sector job gains, even after accounting for the downward adjustment in February’s job count from the initial 217,000 to 208,000.

The National Employment Report from ADP and its partner Macroeconomic Advisers says most of the hiring came from small and mid-sized businesses, which cumulatively added 184,000 jobs.

The service sector added 164,000 jobs in March, while manufacturing and goods producing businesses added 37,000 jobs each. keep reading…

Here Are 100 Of the Best Places to Work

by Jan 28, 2010, 3:01 pm ET

Fortune logoTime for a guessing game. We’re playing “Who am I?” Here are the hints:

I get nearly free health care and pay only a pittance (relatively) for great child care. My cost for education is small. Since I work on average, 35 hours a week, I have time for my family and recreation, which includes free gym access and a summer camp for the kids. Oh and I have no fear of being laid off.

So who am I? Did you say citizen of Sweden or some similar place? Nope. I’m an employee with SAS, America’s best place to work, as declared by Fortune magazine.

keep reading…

Reports Say: Fewer Openings, Longer Job Searches

by Nov 3, 2009, 4:02 pm ET

Two labor-related reports this week offer no evidence that the recession Wall Street believes is over really is, at least so far as workers are concerned.

COnference BoardThe Conference Board’s monthly Help-Wanted OnLine Data Series reported that online job postings dropped by 83,000 in October. The number of newly posted jobs dropped by 24,000. keep reading…

Companies Ready to Unfreeze Salaries; Retention Worries Increase

by Oct 28, 2009, 2:44 pm ET

Picture 3A new study from Watson Wyatt has pretty good news for employees who miss their old salaries and 401(k) matches, and shows that employers are just as worried about keeping people as they were before everything went all haywire on us.

Let’s start with retention. Take the percentage of surveyed employers (26%) who now say they are “significantly more concerned” about retention of key employees than they were before the economic crisis hit and the percentage (39%) who are “slightly more concerned” — add them together, and you find that almost two-thirds are more concerned about top-talent retention than before.

On to salaries, benefits, hours, layoffs, and hours. keep reading…

Numbers Point to a Long, Slow Recovery

by Oct 1, 2009, 3:07 pm ET

Economists expect that tomorrow’s jobs report from the U.S. Bureau of Labor Statistics will show 175,000 jobs were lost in September, the smallest since July 2008.

A Bloomberg survey also says economists expect the unemployment rate to rise to 9.8 percent, the highest since 1983. An ADP report released this morning foreshadows the lower, yet still continuing job loss. The ADP ADP Employment reportNational Employment Report says the U.S. lost 254,000 private, nonfarm jobs in September, a drop of 23,000 from the revised August jobs report. It’s the lowest drop that ADP has recorded since August 2008.

Government economic reports released today showed the tentativeness of the U.S. recovery. A Commerce Department report said consumer spending in August was up 1.3 points, the biggest rise in eight years, and the fourth increase in a row. But fueled as it was by the Cash for Clunkers program, economists warn not to expect anything similar when the September results are reported at the end of this month.

Monster EMployment IndexMeanwhile, the Monster Employment Index, also released this morning, was down two points from September, while yet another report, this one from the Labor Department today, said 551,000 first-time claims for unemployment were filed last week, 17,000 more than the previous week and 20,000 more than the consensus of the 41 economists polled by Bloomberg.

Then there is the report from Challenger, Gray & Christmas which says fewer layoffs were announced in September than in any month since March 2008. The 66,404 layoffs tallied in the report are 10,000 fewer than in August and 30 percent lower than in September last year.

Today’s reports prompted the New York Times to start its story this way: keep reading…

Three Surveys Show Economic Confidence Is On The Rise

by Aug 26, 2009, 8:05 pm ET

New surveys this week are stoking optimism that the worst of the worst recession in (insert your choice of years here) really may be behind us.

The Conference Board, which issues some of the most watched economic indicators in the U.S., reported that consumer confidence jumped 14 percent between July and August. The Index, which hit a low of 26.9 in March, has more than doubled since then and now stands at 54.1. It’s still slightly below the 54.8 posted in May, but the rise was considerably greater than the 47.9 economists had expected, according to Bloomberg News.

Employers mirrored that confidence in a CareerBuilder / Robert Half survey that said 53 percent of businesses polled plan to hire full-time workers in 2010. The Employment Dynamics and Growth Expectations Report prepared by the two companies found 40 percent of employers planning to hire temporary or contract workers and 39 percent expecting to hire part-time workers. keep reading…

Need to Cut Labor Costs but Avoid Layoffs? A Checklist of Cost-cutting Options (Part 2 of 2)

by Aug 10, 2009, 5:05 am ET

Last week in Part 1 of this series, I mentioned that as the global economy continues to emerge, many organizations may find themselves needing to cut labor costs on a recurrent basis. During times of economic decline, the need may be for drastic cuts, which the options presented last week can address, but it is entirely possible that smaller or moderate cuts will be needed even in times of growth.

The following options address those circumstances and are grouped into options for moderate cost reduction and small cost reduction. keep reading…

Need to Cut Labor Costs but Avoid Layoffs? A Checklist of Cost-cutting Options (Part 1 of 2)

by Aug 3, 2009, 5:41 am ET

When many organizations are faced with the need to cut labor costs, the approaches taken are generally unscientific and poorly researched. Many simply do what other organizations acting before them have already done. The decision-making seems almost whimsical, with the final option selection process akin to throwing darts.

The end result of such whimsical action is well established; most labor-cost-containment strategies seem to be effective in the short term, but fail big time when it comes to meeting longer-term goals. It’s not uncommon for cost-containment strategies to negatively impact the organization long term, as the costs of containment paired with the cost of recovery exceed the short-term savings produced. That said, cash flow can be difficult to manage and even as the economy starts to recover, chances are organizations are going to need labor cost-containment options. If you want a more effective and well-thought-out approach, read on. keep reading…