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Jobs and Labor

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GM cuts shifts and output at three car plants

DETROIT, Dec. 5, 2008 (Reuters) — General Motors Corp said on Friday it was cutting shifts at three North American assembly plants in response to declining demand in a move that will lay off almost 2,000 union-represented factory workers. ...  > full story

U.S. job losses worst since 1974 as downturn deepens

WASHINGTON, Dec. 5, 2008 (Reuters) — U.S. employers axed payrolls by 533,000 jobs in November, the most in 34 years and far more than expected, government data on Friday showed, as the year-old recession hammered every corner of the U.S. economy. ...  > full story

Jobless rolls at 26-year peak, factory orders drop

WASHINGTON, Dec. 4, 2008 (Reuters) — The number of U.S. workers collecting jobless benefits hit a 26-year high last month, data showed on Thursday, and it may head higher as a deepening economic slump forces a broad spectrum of firms to cut jobs. ...  > full story

AT&T cuts 12,000 jobs

NEW YORK, Dec. 4, 2008 (Reuters) — Top U.S. phone company AT&T Inc said it will eliminate 12,000 jobs, or about 4 percent of its workforce, in a fresh wave of cuts to cope with an economic downturn that has exacerbated a decline in traditional phone sales. ...  > full story

Layoffs mount as crisis drags on

SINGAPORE, Dec. 4, 2008 (Reuters) — Credit Suisse and Nomura Holdings announced big job cuts on Thursday, further evidence the global financial crisis is unrelenting for an industry battered by heavy losses and weak markets. ...  > full story

DuPont warns of quarterly loss, to cut 2,500 jobs

NEW YORK, Dec. 4, 2008 (Reuters) — DuPont expects to post a fourth-quarter loss and cut 2,500 jobs -- about 4.2 percent of its workforce -- amid steep drops in construction, car sales and consumer spending, the chemical maker said on Thursday. ...  > full story

Credit Suisse to cut 5,300 jobs after $2.5 billion loss

ZURICH, Dec. 4, 2008 (Reuters) — Swiss bank Credit Suisse said on Thursday it was cutting 11 percent of its workforce, or 5,300 jobs, as it revealed it made a net loss of about 3 billion Swiss francs ($2.5 billion) in October and November. ...  > full story

UAW to suspend jobs bank, rework healthcare trust

DETROIT, Dec. 3, 2008 (Reuters) — United Auto Workers President Ron Gettelfinger said on Wednesday the union would surrender job security protections and delay payments into a retiree healthcare trust to help U.S. automakers clinch government aid to survive a sales downturn. ...  > full story

GM says needs fast $4 billion from U.S. to survive

DETROIT, Dec. 2, 2008 (Reuters) — General Motors Corp warned the U.S. government on Tuesday that it needs a $4 billion loan by the end of December or else it faces the risk of immediate failure. ...  > full story

GE shares soar on plan to scale back finance arm

BOSTON, Dec. 2, 2008 (Reuters) — General Electric Co said on Tuesday it plans to scale back its hefty finance arm and repeated that it will pay its regular dividend next year, sending shares up 13.6 percent, their biggest one-day percentage gain in more than a quarter century. ...  > full story
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