August jobs cut by 4,000, first drop in 4yrs
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U.S. employers cut 4,000 jobs in August, the first time in four years that monthly hiring contracted, the government said on Friday in a report certain to boost pressure on Federal Reserve policy makers to cut interest rates.
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The Bank of America Corporation said yesterday that it would cut an additional 4,500 jobs from its ranks, beginning this month, as it simplifies operations.
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Private employers likely added 38,000  jobs in August, far fewer than analysts had expected and the  slowest rate of growth in four years, a report by a private  employment service said on Wednesday.
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Japan&#39;s unemployment rate fell 0.1 per cent to 4.8 per cent in August, the government said, as recent signs of a recovery in the world&#39;s second largest economy trickled down to the job market.
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Stocks tumbled on Friday after data showed monthly hiring contracted for the first time in four years, fanning recession fears and adding pressure for a Federal Reserve interest-rate cut.
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Bank of America Corp. is cutting 4,500 jobs, or 2.5 percent of its work force, with the firings spread throughout the company. The company says it&#39;s part of a &quot;simplification&quot; of its business model.
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U.S. employers unexpectedly cut  17,000 non-farm jobs in January, the first time in nearly 4-1/2  years that U.S. payrolls shrank as fading construction and  manufacturing sectors reflected the economy's waning momentum.
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Employers cut jobs for the first time in four years last month, the government reported yesterday, driving stock prices down in the United States and Europe and raising fears the slowdown in the housing and credit markets brought on by the crisis in subprime mortgages is spreading across the economy.
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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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August employment grew at the slowest rate in four years.
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CHARLOTTE, NC - Bank of America said Thursday it will cut about 4,500 jobs beginning this month as a result of its merger with FleetBoston Financial Corp.
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New orders at US factories fell unexpectedly in August after a sharp drop in demand for civilian aircraft, government data showed on Monday.
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The US economy lost 4,000 jobs in August. Home builders, factories, and schools were hit hard.
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Nonfarm payroll employment falls for the first time since 2003.
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PLANO, Tex. (CP) - Electronic Data Systems is cutting 4,600 jobs through early retirement and taking a $150 million US charge in the fourth quarter, the information technology company said Tuesday.
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Manufacturing output has unexpectedly fallen for the third month in a row in August and at the sharpest pace in nearly two years, official data show.
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Bank of America said Thursday it will cut about 4,500 jobs, or about 2.5 percent of its work force, beginning this month as a result of its merger with FleetBoston Financial Corp.