MInimum Wage and its Effects on Businesses

  • Walgreens

    Walgreens
    The pharmacy operator said that it will eliminate 1,000 corporate management jobs to save the company $1 billion per year starting in fiscal 2011.
  • Starbucks

    Starbucks
    Starbucks is slashing almost 7,000 more jobs during another round of store closures. Closing stores was inevitable due to its profit drop of 69 percent.
  • Wal-Mart

    Wal-Mart
    Even though Wal-Mart has been doing a lot better than many other retailers, it still isn't enough to keep from haivng to lay employees off. They announced that it would shed up to 800 jobs at its headquarters.
  • General Motors

    General Motors
    Announced that they would have a total of 3,400 whitle-collar being layed off.
  • Best Buy

    Best Buy
    Best Buy announced that it will lay off 250 workers at its headquarters. In 2010, it plans to hire 210 new employees.. So the total loss will only be 40 employees.
  • JPMorgan Chase

    JPMorgan Chase
    Announced that it will eliminate about 12,000 jobs as it closes operations of Washington Mutual.
  • U.S. Postal Service

    U.S. Postal Service
    The U.S. Postal Service is offering early retirement to 150,000 workers, eliminating 1,400 management jobs and closing six of its 80 district offices.
  • General Motors

    General Motors
    General Motors told 160 people in the engineering department in Warren, Mich. lost their jobs.
  • Johnson & Johnson

    Johnson & Johnson
    The giant maker of health care products announced that it will slash 900 jobs from the sales force.
  • The Chicago Tribune

    The Chicago Tribune
    The Chicago Tribune announced it will cut 20 percent, or 96 newsroom employees, from its 480 current newsroom employees because the bankruptcy of its parent company Tribune Co.