AMD's restructuring plan, a significant portion of which will be implemented in the fourth quarter of 2012, will include a workforce reduction and site consolidations.
And while controversial, that workforce reduction was likely much needed.
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Until now, Ford has tried to use a surgical approach to workforce reduction, offering buyouts and early retirements only to certain workers in certain plants where factories are closing or production is being scaled back.
Over the period from 1993 to 2011, the largest single workforce reduction announcement by a U.S. employer belongs to IBM, when it made public plans to fire 60, 000 workers in July 1993.
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Earlier this week, Cisco Systems announced a massive 6, 500 reduction in workforce over the next year.
This figure is in addition to the approximately 6, 500 employees impacted by the reduction in workforce and the voluntary early retirement program.
The WARN Act requires employers to provide 90 days of notice before a mass layoff, defined as a reduction in workforce by 250 jobs (or 33 percent of the total) at one site.
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Under normal circumstances, this reduction in the workforce would reduce output and incomes.
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The latest job cuts come on top of a 20% reduction of its workforce that started last August, when it said it would lay off 4, 000 employees.
The company attributed the value boost to cost containment and reduction initiatives which saw workforce reductions and the closing of six facilities in North America.
The museum, which attracts up to 20, 000 visitors a day, is planning to axe 150 jobs from the 1, 000-strong workforce to cut costs after a reduction in government grants.
"We are now beginning a staged and planned reduction in non-essential workforce, " it said.
"Our focus is 100 percent on the safety and welfare of those people and their families, and we are now beginning a staged and planned reduction in non-essential workforce on a temporary basis, pulling them out of the country, " said BP Vice President Peter Maher from London.
The savings will be largely driven through a reduction of AMD's global workforce by approximately 15 percent, which is expected to be largely completed in the fourth quarter of 2012.
The unemployment rate comes from a different survey than the jobs-creation data, and the reduction might indicate frustrated people leaving the workforce.
Peru needs a more skilled workforce, a stronger rule of law, a reduction in burdensome regulations, and a commercial code that promotes entrepreneurship.
General Motors offered buyouts to its entire unionized workforce earlier this year, a program that resulted in a reduction of 34, 000 workers.
Figures obtained by BBC health correspondent David Fenton show this would result in a 20% reduction in take-home pay for some of the 1, 500 workforce.
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