JOBS

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National City slashes payout, jobs, seeks capital

National City Corp, one of the 10 largest U.S. banks, on Wednesday said it will cut its common stock dividend 49 percent and eliminate 900 jobs as it stops offering mortgages through brokers, and it plans to raise more capital to cope with weakened credit markets. The Cleveland-based company cut the quarterly dividend to 21 cents per share from 41 cents. Chief Executive Peter Raskind said the cut ...

Bristol to cut jobs, close plants to save $1.5 bln

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Bristol-Myers Squibb Co, as part of an expected major restructuring, on Wednesday said by 2010 it would cut its work force 10 percent and slash the number of its manufacturing plants by more than half, to generate an additional $1.5 billion in savings. The company is also planning to sell its medical imaging business and reviewing strategic alternatives for its wound healing unit. Sales would bring the company cash to boost its core pharmaceuticals business.

Private sector adds 189,000 jobs in Nov: report

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Private employers added 189,000 jobs in November, a report by a private employment service said on Wednesday, much higher than market expectations and the biggest monthly increase in a year.
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H&R Block Shuts Option One, Slashes 620 Jobs

The largest tax preparer in the U.S said on Tuesday that it will shut down its troubled mortgage lending arm and cut 620 jobs as the units sale to Cerberus Capital Management LP has fallen through.
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Strong hiring boosts consumer outlook

Employers added about twice as many new employees last month than expected, while factory orders edged up, according to government reports on Friday that implied the economy was strong enough to avoid recession. The Labor Department said 166,000 non-farm jobs were added in October, enough to support consumer incomes and spending in the approaching holiday shopping season.
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Bank of America cuts 3,000 jobs

Bank of America Corp on Wednesday said it planned to eliminate 3,000 jobs, and shook up its corporate and investment bank after a dismal quarter at that unit led to a 32 percent drop in overall profit.The second-largest U.S. bank said a majority of the cuts will be in corporate and investment banking, and the rest elsewhere. The cuts amount to 1.5 percent of the bank's 198,000-person workforce.
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Factories, jobs raise worries over weakness

The U.S. factory sector and the job market showed surprising weakness in data released on Thursday, raising concerns the Federal Reserve may need to deliver more interest rate cuts to shore up the economy.
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U.S. employers added 110,000 jobs

U.S. employers added 110,000 jobs in September and August's job losses were revised into a gain in a Labor Department report on Friday that lifted some worry about a recession in the near term.
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Bonds beaten down as jobs show sign of life

Treasury debt prices plunged on Friday after a much stronger reading on the labor market suggested the Federal Reserve might not need to cut interest rates later this month.
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Job growth rebounds, shows more resilient market

U.S. employers added 110,000 new jobs in September and hiring in the two previous months was revised up strongly, the government said on Friday in a report showing a more resilient labor market than previously thought. The surprisingly robust report on monthly hiring outside the farm sector sent bond prices higher and stock futures soaring.
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Reports paint cloudy jobs picture

As the economy winds through housing troubles and turmoil in credit markets, the picture emerging from data measuring the health of the job market is clouded.Firms are showing a reluctance to lay off workers at the same time they are apprehensive about hiring new ones, creating a puzzling picture, economists say. Usually, low layoffs coincide with robust hiring.
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Cloudy Jobs Picture Puzzles Economists

As the U.S. economy winds through housing troubles and turmoil in credit markets, the picture emerging from data measuring the health of the job market is clouded. Firms are showing a reluctance to lay off workers at the same time they are apprehensive about hiring new ones, creating a puzzling picture, economists say. Usually, low layoffs coincide with robust hiring.
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Home sales fall, job market resilient

Sales of new homes plunged in August and prices posted their biggest year-on-year drop in nearly 37 years, the U.S. Commerce Department said on Thursday, underlining the depth of problems facing the housing sector.
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Construction job losses could top 1 million

Job losses in the construction sector could top 1 million if a housing downturn tips the economy into recession and tighter access to credit dampens business investment. Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sector in the next few months.
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Accredited Home halts lending, to cut 1,600 jobs

Accredited Home Lenders Holding Co said on Wednesday it has stopped taking loan applications and will cut 1,600 jobs, citing turmoil in the subprime mortgage industry. Accredited said it will close substantially all of its retail lending business, consisting of 60 branches and five central support operations.
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US financial industry job cuts soar-Challenger

A prolonged U.S. housing slump is causing a surge in the number of job losses announced by U.S. financial services companies, consulting firm Challenger, Gray & Christmas Inc. said on Tuesday.
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Countrywide says it cut 500 mortgage jobs

Countrywide Financial Corp, the largest U.S. mortgage lender, said it had eliminated about 500 jobs nationwide as it tries to cope with a credit shortfall stemming from the U.S. housing downturn.
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SunTrust Banks to cut 2,400 jobs

SunTrust Banks Inc., the seventh-largest U.S. bank, on Monday said it expects to eliminate about 2,400 jobs by the end of 2008 as part of a plan designed to save $530 million annually by 2009.
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Temporary jobs drop may augur slower growth

The economy has added non-farm jobs at a steady pace so far this year, but with businesses cutting back on hiring temporary workers, economists say the labor market may be on course to weaken.
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Fake Steve Jobs blogger exposed as Forbes editor

A blogger calling himself 'Fake Steve Jobs,' whose parody of the Apple Inc. chief executive amused and enthralled Silicon Valley, revealed himself on Sunday as an editor of Forbes business magazine.
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Jobs in focus as contest for Siemens VDO heats up

Demands for job guarantees at Siemens AG automotive electronics unit VDO moved to the centre of a takeover contest after two suitors were each reported to have bid more than $16 billion for the business.
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Steve Jobs to Retain CEO Title: Analysts

Apple Computer announced the results of its internal stock options investigation on Wednesday, finding 15 instances option-backdating leading to the resignation of the firms CFO, however experts believe Steve Jobs should not be affected.

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