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BUSINESS
By BLOOMBERG NEWS | February 15, 2001
AKRON, Ohio - Goodyear Tire & Rubber Co. said yesterday that it's eliminating about 10,700 jobs over two years because raw material costs are rising and carmakers are producing fewer vehicles. The 10 percent work force reduction is expected to reduce costs by about $150 million this year and help cut costs by $500 million annually by 2005. Goodyear took a fourth-quarter charge of $93.7 million, or 59 cents a share, for the job cuts and plant consolidations, resulting in a loss of $102 million, or 65 cents.
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BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | January 24, 2002
The St. Paul Cos. said yesterday that it plans to lay off 50 workers from its Baltimore offices as part of a plan to cut costs and get out of unprofitable businesses, such as malpractice insurance. A considerable number of the job losses in Baltimore will be security jobs, which the company plans to outsource, said spokesman Patrick Hirigoyen. The fourth-largest U.S. business insurer is cutting 1,150 jobs company-wide, more than the 750 it had initially announced last year. Most of the cuts will come from overseas, where the St. Paul, Minn.
BUSINESS
By Mark Stevens | February 18, 1991
Tradition has it that during a recession, the three most critica management functions are to cut costs, cut costs, cut costs.This focus on reducing overhead is a wise way to minimize the impact of a slumping economy, but it is only one side of what should be a two-fisted approach. At the same time management is working to trim the budget, it should also be exploring new waysto increase sales. Remember the old maxim: A good offense is the best defense.Many entrepreneurs assume that a down economy necessarily dictates against business growth.
BUSINESS
By John Fairhall and John Fairhall,Sun Staff Writer | November 1, 1994
Under mounting pressure to cut costs, Johns Hopkins Hospital announced yesterday that it would "re-engineer" its operations, a mammoth undertaking that ultimately may result in fewer jobs -- but no layoffs -- hospital officials asserted.Hopkins President and Chief Executive James A. Block did not spell out how much money would be saved by making the moves, although previous cost-cutting initiatives suggest that the goal over several years will be in the tens of millions of dollars. Hopkins, the largest hospital in the state, has an operating budget of $470 million.
BUSINESS
By JAY HANCOCK | August 29, 2007
Next month, Hedwin Corp. will shut down its Indiana factory and lay off 60 employees. Seems like another story of greedy shareholders, foreign imports and good American manufacturing jobs moved offshore. Except there aren't any greedy shareholders. Foreign imports aren't a problem. And the jobs aren't moving to Shanghai. They're going to Baltimore: Hedwin is filling 40 positions here. Sometimes the brush portraying U.S. manufacturing as a victim of cut-rate imports and stock-option-gobbling CEOs gets swept too broadly.
NEWS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | April 21, 1996
Following a national trend toward reducing patient-care costs, Howard County General Hospital is embarking on an ambitious cost-cutting plan of its own -- in spite of its healthy profit margins and at the possible expense of jobs.During the next three years, the 233-bed, acute-care community facility in west Columbia's Hickory Ridge village -- the county's only hospital -- plans to cut patient costs by 28 percent, President Victor A. Broccolino announced last week.The plan is part of an effort begun by the hospital last year to reorganize its operations to cut costs.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | December 10, 2002
UAL Corp., parent of United Airlines, filed for bankruptcy protection in Chicago yesterday, capping a year of record losses and setting the stage for the largest airline reorganization in history. The downsizing of the world's second-largest airline is expected to accelerate an industrywide restructuring. The outcome is likely to be more layoffs and fewer flights as the nation's biggest airlines adjust to the slumping economy, diminished business travel and increasing pressure from profitable low-cost competitors such as Southwest Airlines, JetBlue and AirTran Airways.
NEWS
July 14, 1999
HEALTH CARE providers are under pressure to cut costs -- and then cut some more. From all directions, hospitals, nursing homes and physicians are feeling the fiscal squeeze, and worrying about their long-term ability to deliver quality care at a far lower price.In Maryland, the state's cost-control commission wants to lower hospital charges by 1 percent this year and more the next two years. This comes after stiff cuts in Medicare payments. More cuts will be needed through 2002 for Congress to stay within its budget caps.
NEWS
By Norris P. West and Norris P. West,Evening Sun Staff | April 15, 1991
Forty Howard County government workers were laid off today in a move County Executive Charles I. Ecker said was needed to help balance next year's operating budget."
BUSINESS
By Michael Muskal and Michael Muskal,Los Angeles Times | January 29, 2009
Starbucks Corp. said yesterday that it will eliminate about 6,700 jobs because of the difficult economy. The company becomes the latest to announce job losses and joined major employers such as AOL and Boeing yesterday in detailing layoffs to cope with the current recession. Starbucks said its profit dropped 69 percent in its fiscal first quarter, to $64.3 million. Starbucks said it will close 300 underperforming stores in addition to the 600 it already planned to close in the United States.
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