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Consumer Corner: Foreclosure settlement no magic bullet for economy
DALLAS, Dec. 4 (UPI) -- U.S. corporate giant AT&T said Thursday it would trim its workforce about 4 percent, shedding approximately 12,000 jobs in response to a weaker economy.
A company statement also cited "a changing business mix and a more streamlined organizational structure," as reasons for the cuts.
Some areas of the telecommunications conglomerate, including video and broadband, were still adding employees, the statement said.
But the company said it would accept a $600 million charge in the fourth quarter based on severance pay for affected employees.
The brief statement said "many non-management employees effected by these reductions have a guaranteed job offer under union contracts."
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BAGHDAD, Feb. 14 (UPI) --
U.S. supermajor Exxon Mobil won't be able to take part in an oil and natural gas licensing auction scheduled for May in Iraq, a spokesman said.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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