Spain Slips Further into Recession
ThinkstockSpain slipped further into recession, which means that its need for aid has accelerated. Its gross domestic product for the third quarter dropped 0.3%, on top of a drop of 0.4% in the quarter…
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Newest first · Page 70UBS to Cut 15% of Its Workforce
ThinkstockUBS A.G. (NYSE: UBS) has made it official. It will cut 10,000 jobs, primarily in its fixed-income operations. The financial firm said the move will save it $3.6 billion over the next three years.…
Friday’s Jobs Report Could be Delayed
What some people have called the most important U.S. employment report ever may not be announced as scheduled this Friday. The U.S. Labor Department’s Bureau of Labor Statistics (BLS) usually reports the previous month’s…
eBay/PayPal Joins the Layoff Kings Club, Fires Workers and Contractors
courtesy of ebayIt was just last week that 24/7 Wall St. announced the new Layoff Kings For Late 2012. While eBay Inc. (NASDAQ: EBAY) was not officially listed as a layoff company, we had…
Warning of an 11% Unemployment Rate
Groups that represent manufacturers and the manufacturers themselves constantly complain that the unfair trade practices employed by China have largely wrecked their industries and continue to do so. Some of the attention given to…
Spain’s Unemployment Above 25%, as Recovery Becomes Impossible
Spain’s National Statistics Bureau reported today “El número de parados crece en 85.000 personas y alcanza la cifra de 5.778.100. La tasa de paro se incrementa 38 centésimas hasta el 25,02%.” In other words, the country’s jobless rate was above 25% in the…
Weekly Jobless Claims Report Splits Estimates
The U.S. Labor Department is out with its weekly jobless claims report from the prior week. We would note that weekly jobless claims have been a bit skewed because of a delay in California’s…
As Credit Suisse Collapses, It Markets Its Good Deeds
Credit Suisse (NYSE: CS) is collapsing around the heads of its management. No one could tell that by going to the bank’s USA website. The most prominent message: Under the guidance of EVP Laurent Freixe, Nestlé has…
Ford Cuts 5,700 Jobs in Europe
The European financial crisis has just claimed another 5,700 victims. That’s how many workers Ford Motor Co. (NYSE: F) will fire at two plants in the United Kingdom and one plant in Belgium as…
Meet the New Layoff Kings of Late 2012
As corporate earnings are disappointing and as the economy remains very sluggish, companies are announcing big waves of layoffs. Some have said that the layoffs this time of year are seasonal, as managers start…
Dying Worker Mobility and the Economy
There is something to be said for the benefits of worker mobility, which helped define the U.S. economy from the 1950s until recently. People would relocate to find the best jobs. Employers had access…
Dow Chemical: National Employee Morale Day with 2,400 Fired
National Employee Morale Day came to Dow Chemical Co. (NYSE: DOW) as it fired 2,400 people and closed 20 factories. America’s large industrial sector, which appeared to be on the mend earlier this year…
Employees Take the Battle to Walmart
Wal-Mart Stores Inc. (NYSE: WMT) has entered another battle with some of its employees. The company has a history of complaints and lawsuits in a range of issues from discrimination against women to sub…
State Unemployment Rates Improve in September
The U.S. Bureau of Labor Statistics (BLS) today released its data on state and regional unemployment for September. Compared with August date, unemployment rates fell in 41 states and the District of Columbia, while…
The Age of PC Company Layoffs
Advanced Micro Devices Inc. (NYSE: AMD), one of the weakest companies in the PC supply chain, just laid off 15% of its workers. That is about 1,800 people. The slow attrition of computer sales…