Job cutting worst in 2-1/2 years
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Employers announced 104,530 job cuts last month, capping the worst three months for cutbacks since early 2002, outplacement firm Challenger, Gray &amp; Christmas Inc.
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Foolish advice to cut back on what you owe.
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State Street Corp. said it will eliminate 425 jobs as a cost-cutting move after the financial firm yesterday reported a weak third quarter in which earnings fell 13 percent because of a sharp drop-off in lending and trading activities in securities markets.
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Employers cut 17,000 jobs in January, the first decline in the work force in more than four years.
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Business & money: Number of people out of work and claiming benefit fell for 15th straight month in December
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The delays have pushed the program off by a full two years, and one major customer may trim its order.
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SHOWER OF PINK SLIPS: U.S. employers cut jobs last month for the first time in more than four years, the starkest signal yet that the economy is grinding to a halt if it hasn't already toppled into recession. Employers cut jobs by 17,000.
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Financial companies slashed 52,500 jobs from July to December 2007, revealing how badly the subprime debacle has hurt these employers, but such companies based in New York City hired 1,900 people during that period, a new report said on Wednesday.
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Papermaker and forest products company Svenska Cellulosa AB said Tuesday it would cut 1,200 jobs, or 2.4 percent of its overall work force, as it seeks to cut costs amid competition from rivals and declining demand. Most of the job losses will be at plants in France and the Netherlands.
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US firms cut back on the total number of staff employed for the first time in four years, official data shows.
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WASHINGTON  - Job-cut announcements by US companies fell 5.6 percent in October to 101,840, according to outplacement firm Challenger Gray and Christmas.
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Wary employers clamped down on hiring and pushed the unemployment rate to a two-year high of 5 percent in December, an ominous sign that the economy may slide into recession. President Bush explored a rescue package, including a tax cut, with his economic advisers.
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Royal &amp; SunAlliance announced up to 1,200 job losses today with the transfer of customer service and back office roles to India over the next two years.
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ENDICOTT, N.Y., June 15  /PRNewswire-USNewswire/ -- In response to job cuts, job shifting to low cost countries and declining working conditions at IBM Corp.
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Nortel Networks Corp.   will slash 2,900 jobs, or 8.5 percent of its workforce, over the next two years and shift another 1,000 employees to lower-cost locations like China, India and Mexico as North America's biggest maker of telephone equipment struggles to shore up its profits.
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WASHINGTON - American firms announced the steepest job cuts in eight months in September and also slashed hiring plans, a survey showed.
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Ford Motor Credit, the financial arm of   Ford Motor Co. F.N on Thursday said it would cut 2,000 jobs   -- almost a quarter of its staff in North America -- and close   59 U.S. branch offices over the next year in order to cut   costs.