layoffs

With state and local government finances on the mend, layoffs of government workers have slowed.

Layoffs soared as the holiday shopping season ended. Still, 2011 was a record year for retail sales, even though the year ended on a weak note for stores.

The struggling financial industry is laying off workers, and those beginning their careers are bearing the brunt of the job cuts and the inevitable loss of status.

The number of planned layoffs at U.S. firms dropped in October after hitting a more than 2-year high the month before, while seasonal positions pushed hiring plans sharply higher, a report Wednesday showed.

The biotech company, based in Thousand Oaks, says the layoffs are targeted to enable the company to better allocate its research and development resources.

UPM-Kymmene plans up to 1,170 layoffs and mill closures in Finland and Europe as it slashes paper production by 1.3 million tons to cut costs and combat overcapacity.

New U.S. claims for unemployment benefits fell more than expected last week, dropping below the key 400,000 level for the first time since early April.

After a sizzling first quarter, the weakening economy and an array of worrisome global events have Wall Street planning for big revenue drops and new rounds of layoffs.

Faced with weak markets and uncertainty over regulations, many of the biggest firms are preparing for deep cuts in jobs and other costs.