Oakland A's lay off 20% of employees across business, baseball operations
A wave of layoffs are sweeping Major League Baseball this offseason because of the pandemic’s impact on revenues. The Oakland A’s are part of the wave, with employees losing jobs on both the business and baseball operations side of the organization.A source said approximately 20% of employees were impacted across baseball and business operations, nearly all of which came from the pool of 150 employees that were furloughed in April of this year. Those impacted were set to return when the furlough was lifted on Oct. 31, but they were informed their positions would not be there for them at the ye...
The Mercury News
Few new movies, small crowds: Can AMC and B&B theaters survive the pandemic?
At AMC Town Center in the Kansas City suburb of Leawood, Kan., the 20-screen complex has a few recent offerings: There’s a new comedy starring Robert DeNiro and Rob Riggle, Christopher Nolan’s “Tenet” and a thriller with Russell Crowe.But it’s the oldies that tell the story of how the coronavirus pandemic has shaped the movie theater industry. The multiplex is showing classics like “The Shining,” “Hocus Pocus” and “Monsters, Inc.,” all more than a quarter-century past their initial theater debuts.The lack of new releases has been a major impediment for movie theaters, which have been uniquely ...
The Kansas City Star
Bankrupt Mallinckrodt may still be expected to help shoulder nuclear cleanup costs
ST. LOUIS — Two sets of nuclear waste complaints against Mallinckrodt have been thrown into question in a two-week span, while the company restructures in bankruptcy court.Facing a wave of lawsuits and a $1.6 billion settlement stemming from its role in the national opioid crisis, the company with deep St. Louis roots filed for protection from creditors on Monday.While industry analysts have focused on Mallinckrodt’s future as a drugmaker, the company also faces potential liabilities for work a predecessor company, St. Louis-based Mallinckrodt Chemical Works, performed decades ago, when it pro...
St. Louis Post-Dispatch
Can canned tuna giant Bumble Bee recover from bankruptcy and scandal?
SAN DIEGO — Bumble Bee Seafoods, the 120-year-old canned tuna giant, is trying to make tinned fish cool again.With viral YouTube ads, a trendy campaign targeted toward millennials and Gen Z, and a worldwide pandemic that skyrocketed the sale of canned goods, they have a few good things going for them. But the company — shaken by bankruptcy and industry scandal that landed its former CEO in prison — has a long way to go before it can claim a complete turnaround.Earlier this year, Bumble Bee’s longtime CEO Christopher Lischewski was sentenced to three years in prison for his lead role in a lengt...
The San Diego Union-Tribune
United says 2,700 jobs it cut during the pandemic likely won't return, though it sees 'light at the end of the tunnel'
United Airlines said the 2,700 corporate jobs it has cut since the coronavirus pandemic began likely won’t return, even as CEO Scott Kirby said the airline is starting to see the “light at the end of the tunnel.”“The next 12 to 15 months are still going to be difficult and the recovery will not be a straight line. But we’ve done what we believe it takes to get through,” Kirby said during a call with analysts discussing the company’s third-quarter results. “We can see the recovery on the horizon and our attention can now be firmly focused there.”Still, United executives said they continue to be...
Wells Fargo posts $2 billion profit in the third quarter as layoffs begin
Wells Fargo returned to profitability in the third quarter, posting net income of $2 billion for the third quarter as management begins to restructure the bank and cut billions in expenses.It’s a rapid reversal from the second quarter, when the bank lost $2.4 billion, which was its first recorded quarterly loss since the financial crisis. The return to profit, though, was not as sharp as Wall Street analysts anticipated, and shares fell 4.5% in early trading.Overall revenue at the San Francisco-based bank fell to $18.9 billion from $22 billion in the second quarter, according to its Wednesday ...
The Charlotte Observer
Airline contractors received CARES Act funding, but still cut jobs
The CARES Act funding approved by Congress for the aviation industry was meant to preserve jobs, but didn’t prevent some layoffs and furloughs by airline contractors, an investigation found.While lawmakers consider another round of federal pandemic aid, they are asking the companies awarded money to stop cutting workers.Atlanta-based DAL Global Services, which does contract work for Delta Air Lines and other carriers, is one of 15 companies that got federal stimulus funding but still furloughed or laid off workers, according to a U.S. House subcommittee investigation of the Payroll Support Pro...
The Atlanta Journal-Constitution
Liam Neeson tapped his working mum's layoff to stoke a righteous anger in 'Honest Thief'
The list of revenge targets in “Honest Thief” is long — this is a Liam Neeson action movie after all — but it all starts with banks.Neeson plays a man who robs a bank because of the way its executives mistreated his father, a story element the actor responded to on a deeply personal level.For Neeson, raised in Ballymena in Northern Ireland, it reminded him of the way his mother, Kitty, was laid off just short of qualifying for the modest pension she’d been working toward, one of the reasons she toiled in the same low-wage job for three decades.“My mom, who just passed away a couple of months a...
The Philadelphia Inquirer
Delta Air Lines reports $5.4 billion quarterly loss
ATLANTA — Delta Air Lines booked a net loss of $5.4 billion in the third quarter as the company spent billions on buyouts and early retirement packages to cut its workforce and remove hundreds of airplanes from its fleet.About 18,000 employees took buyouts or early retirements, and CEO Ed Bastian said he expects administrative staffing, including at Delta’s Atlanta headquarters, to be about 25% smaller.“Those are long-term charges that we are getting behind us,” Bastian said in an interview with The Atlanta Journal-Constitution.The moves are expected to help the company reduce how much cash it...
The Atlanta Journal-Constitution
Got stamps? Pandemic is fueling a boom in greeting card sales and some are pretty cheeky
Early this year, Lynda Junge watched her Downers Grove, Ill., wedding invitation business grind to a halt as the coronavirus pandemic caused couples to postpone their nuptials.On a whim, she designed a handful of Mother’s Day cards for her business, Greenstar Paperie, riffing on social-distancing and other related themes. She posted the cards to the online marketplace Etsy and started hearing cash register-like notifications on her smartphone.“They went off like crazy,” she said.Among her bestsellers are cards that say, “Hi friend, this is your snail mail sanity check. You good?” and “Waving f...