Post-Pandemic Peloton; Plans for Restructure
Peloton, the once-celebrated fitness company, recently announced that it is laying off about 15% of its employees – about 400 people. The company is also looking for a new CEO…
800 Losing Job with Caterpillar Inc.
800 employees of Caterpillar Inc. are going to lose their jobs soon when the Aurora, Illinois plant closes. As Lisa Miller, the Caterpillar spokeswoman explained to Reuters, “Out of about…
Vehicle Production Group Shutting Down
Vehicle Production Group LLC, the maker of wheelchair-accessible vans, has closed after running out of money. The company produced a six-passenger MV-1 van that ran on compressed natural gas. Investors…
American Airlines Digging Itself Out of Bankruptcy
American Airlines, in an attempt to get out of bankruptcy, has gotten closer to reaching a new contract agreement with its pilots. AMR Corp., the parent of American Airlines, had…
Kodak Asking to Walk Away from Retiree Benefits
Talk about putting a nail in the coffin. A month after they just filed for Chapter 11 bankruptcy protection, Eastman Kodak Co. has now asked in federal court that they…
Morgan Stanely Cuts Coming
Morgan Stanley has announced a plan to cut 1600 employees in the first quarter of 2012, a cut that only represents 2% of their workforce; nevertheless, the cuts signal a…
Whirlpool Slashing Jobs
An enormous company like Whirlpool is able to offer economists insight into the American and global economy. Their performance serves as a window to the economic situation, as it shows…