NEW YORK – General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs. GM spokesman Tony Sapienza said the buyouts will mainly target GM’s 22,000 retirement-eligible hourly employees, though any union employee can take the offer. News of the buyouts first […]
WASHINGTON – Consumer spending fell for a record sixth straight month in December as recession-battered households, worried about surging layoffs, boosted their savings rates to the highest level since May. Economists expect consumer spending, which accounts for the largest portion of total economic activity, to remain weak this year, prolonging an already painful recession. The […]
WASHINGTON – It’s already been a lousy year for workers less than a month into 2009 and there’s no relief in sight. Tens of thousands of fresh layoffs were announced Monday and more companies are expected to cut payrolls in the months ahead. A new survey by the National Association for Business Economics depicts the […]
Associated Press REDMOND, Wash. – Microsoft says it will slash 5,000 jobs over the next 18 months as it reported an 11 percent drop in second-quarter profit. The software giant said Thursday the moves were driven by deteriorating global economic conditions and lower client revenue, resulting from weakness in the PC market and a shift […]
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