3M, maker of Post-it notes, industrial coatings, and ceramics, is cutting about 2,500 manufacturing jobs worldwide as it looks to align itself with adjusted production volumes. The company announced last month that it will exit per- and polyfluoroalkyl substance manufacturing by the end of 2025. The so-called forever chemicals are used in nonstick frying pans, […]
DAVOS, Switzerland—Microsoft Corp. on Wednesday said it would eliminate 10,000 jobs and take a $1.2 billion charge to earnings, as its cloud-computing customers reassess their spending and the company braces for potential recession. The layoffs add to the tens of thousands announced in recent months across the technology sector, which has downshifted following a strong […]
Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Persisting inflation leading to interest rate hikes, weak consumer demand, and an economic slowdown in China have forced firms from Amazon to Walt Disney and banks to trim their workforce. […]
House Republican leader Kevin McCarthy is inching closer to getting the votes to become the next speaker of the House. President Joe Biden and Congress mark the two-year anniversary of the Jan. 6 Capitol breach. A former lawmaker, charged for Jan. 6, is running for Congress. What’s his background and what did he do on […]
The U.S. economy created 223,000 new jobs in December, down from 256,000 in November, according to the Bureau of Labor Statistics (BLS). This was slightly higher than economists’ expectations of 200,000. This represented the fifth consecutive month of slowing employment growth. The unemployment rate slipped to 3.5 percent last month, down from 3.6 percent in […]
Facebook parent company Meta will slash 13 percent of its staff, or more than 11,000 employees, as it faces a revenue crunch as advertisers pull back amid high inflation and a wobbly economy. Meta CEO Mark Zuckerberg announced the cuts in a Nov. 9 blog post, in which he took blame for overestimating the company’s […]
The U.S. economy added 261,000 new jobs in October, down from the upwardly revised 315,000 in September, according to the Bureau of Labor Statistics (BLS). This topped the market estimate of 200,000. The unemployment rate ticked up to 3.7 percent last month, up from 3.5 percent in September. The labor force participation rate edged down […]
With midterm elections rapidly approaching, President Joe Biden is traveling to campaign for his party. The president is hoping to convince voters that Democrats are the ones for the job when it comes to fighting inflation and creating jobs. He compared his economic plan with the Republicans’ plan at an event in Syracuse, New York, […]
Bank of America on Friday warned that the Federal Reserve’s policies aimed at tackling inflation could see the U.S. economy start losing tens of thousands of jobs a month beginning early next year. While American employers slowed down hiring in September, the United States still added 263,000 jobs, down from an upwardly revised 537,000 in August, according to data from […]
The U.S. economy added 263,000 new jobs in September, down from an upwardly revised print of 537,000 in August, according to the Bureau of Labor Statistics (BLS). The market had forecast 250,000 new jobs last month. The unemployment rate fell to 3.5 percent, down from 3.7 percent in August. This came in line with economists’ […]
