1.
U.S. markets recover from steep losses
CHICAGO, Nov. 29 (UPI) -- Holiday-season job cuts are mounting in the United States, with thousands announced just since Thanksgiving, a private consultant said Wednesday.
Among the biggest reductions are 2,200 by Pfizer, 7,000 from the closure of 20 hospitals in New York and the 38,000 Ford employees who accepted buyouts and will begin leaving the company in January, accelerating a six-year plan to eliminate 25,000 to 30,000 jobs, Challenger, Gray & Christmas said in a news release.
"Some might think that jobs are more secure this time of year, assuming that employers with the holiday spirit will postpone job cuts. Unfortunately, these numbers indicate that job security is by no means assured this year," said John A. Challenger, chief executive of the company, a global outplacement consulting firm that tracks job-cut announcements daily.
"What is most worrisome about the most recent cuts is that it appears that the slowdown, which has been concentrated in automotive and housing-related industries, is expanding to other areas of the economy. Healthcare and pharmaceutical companies have resisted downsizing for so long that they seemed virtually untouchable," Challenger said.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
