Chicago is My Home

25
Jan

Employees of Chicago Corporations Face Wide-Ranging Layoffs

Author: Adam Fendelman, Category: Business, Technology

Four Chicago-area companies have cut employees in the past week. The layoffs come during U.S. economic recessionary concerns.

The Sun-Times Media Group laid off 17 reporters and editors at the Chicago Sun-Times on Wednesday via phone calls. The new pink slips bring total layoffs for the newspaper in recent memory to 36. The cuts come as a way for the company to try to return to profitability.

Telecommunications company Westell Technologies announced on Thursday that it will be letting go of 58 employees. The Aurora, Ill.-based company began outsourcing overseas last May to help cut costs. Shares of Westell rose 2 cents per share after the announcement.

One group of employees hit hard from layoffs in Illinois is those employed by electronic components maker Methode Electronics. The company announced on Thursday the cuts of 700 employees in its domestic automotive division. The company said in an effort to remain competitive it must move operations away from the U.S.

Another telecommunications company – Telltabs in Naperville, Ill. – will layoff 225 employees to save on costs. The company previously laid off 125 people in Sept. 2007.

By Stephanie Huls