<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>At least they have social welfare and need not go hungry while Sporns dun even have enuff to eat even as their govt is the BEST PAID in the world!
Published December 6, 2008
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>New wave of job cuts hits corporate America
AT&T, DuPont, Credit Suisse lay off thousands as recession hits harder
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(Washington)
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</TD></TR><TR class=caption><TD>THE BIG SLASH
The US telecom giant i s cutting some 4 per cent of its workforce</TD></TR></TBODY></TABLE>MAJOR US companies such as AT&T and DuPont unleashed a new wave of layoffs on Thursday amid a deepening recession that has swollen government unemployment aid to a 26-year high.
Telecommunications giant AT&T said it was cutting 12,000 jobs, or some 4 per cent of its workforce, beginning this month and through the end of 2009, and slashing 2009 capital spending due to the economic downturn.
Chemical giant DuPont said it was eliminating about 2,500 jobs mainly connected to the automotive and construction markets in the United States and western Europe.
Job cuts were also announced by media-entertainment group Viacom, which said a restructuring would reduce its workforce by some 7 per cent, or 850 jobs.
The drumbeat of layoff announcements accompanied a Labor Department weekly report that put unemployment insurance claims at a 26-year high.
In a weekly update, the Labor Department said the number of people receiving unemployment aid, which crossed the four-million mark two weeks ago, rose by 89,000 to 4.087 million, the highest level since December 1982.
President-elect Barack Obama, who takes office on Jan 20, has vowed to create 2.5 million new jobs to shore up the flagging economy.
In Europe, the financial crisis hit hard among investment banks, particularly in London.
Credit Suisse announced plans to cut 5,300 jobs, or 11 per cent of its global workforce, and the Japanese giant Nomura, which acquired Lehman Brothers' European business, said it planned 1,000 job cuts at its London office.
The German bank Commerzbank said it would eliminate 1,200 jobs in London and cut jobs in its fixed-income, research and corporate finance divisions, adding to the hundreds of thousands of jobs that financial institutions have already cut worldwide to survive the financial crisis. -- AFP, AP
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Published December 6, 2008
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>New wave of job cuts hits corporate America
AT&T, DuPont, Credit Suisse lay off thousands as recession hits harder
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</TD></TR><TR class=caption><TD>THE BIG SLASH The US telecom giant i s cutting some 4 per cent of its workforce</TD></TR></TBODY></TABLE>MAJOR US companies such as AT&T and DuPont unleashed a new wave of layoffs on Thursday amid a deepening recession that has swollen government unemployment aid to a 26-year high.
Telecommunications giant AT&T said it was cutting 12,000 jobs, or some 4 per cent of its workforce, beginning this month and through the end of 2009, and slashing 2009 capital spending due to the economic downturn.
Chemical giant DuPont said it was eliminating about 2,500 jobs mainly connected to the automotive and construction markets in the United States and western Europe.
Job cuts were also announced by media-entertainment group Viacom, which said a restructuring would reduce its workforce by some 7 per cent, or 850 jobs.
The drumbeat of layoff announcements accompanied a Labor Department weekly report that put unemployment insurance claims at a 26-year high.
In a weekly update, the Labor Department said the number of people receiving unemployment aid, which crossed the four-million mark two weeks ago, rose by 89,000 to 4.087 million, the highest level since December 1982.
President-elect Barack Obama, who takes office on Jan 20, has vowed to create 2.5 million new jobs to shore up the flagging economy.
In Europe, the financial crisis hit hard among investment banks, particularly in London.
Credit Suisse announced plans to cut 5,300 jobs, or 11 per cent of its global workforce, and the Japanese giant Nomura, which acquired Lehman Brothers' European business, said it planned 1,000 job cuts at its London office.
The German bank Commerzbank said it would eliminate 1,200 jobs in London and cut jobs in its fixed-income, research and corporate finance divisions, adding to the hundreds of thousands of jobs that financial institutions have already cut worldwide to survive the financial crisis. -- AFP, AP
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