Initial jobless claims unexpectedly rose 13,000 to 462,000, but continuing claims plunged another 112,000 to 4.4 million, the Labor Department announced Thursday. Some of the decline in continuing claims comes from people who have exhausted their benef…
Sanofi-Aventis (SNY) said Friday it plans to lay off 1,700 workers at its U.S. pharmaceutical operations, which amounts to about 25% of its U.S. workforce. The cutbacks are part of an ongoing restructuring to streamline its business amid a “challenging…
Bank of America (BAC) is reportedly laying off as many as 400 people as revenue from trading and advising clients falls.
Bank of America, the country’s largest bank by assets, is laying off people ranging from junior analysts to managing directors, Bloomberg News said without naming its sources.
“This sounds like an acceleration of the usual year-end cutbacks among the lowest…
Continue reading Bank of America Reportedly Planning Layoffs
Bank of America Reportedly Planning Layoffs originally appeared on DailyFinance on Tue, 21 Sep 2010 07:02:00.
Filed Under: Company News, People, Investing, Bank of America, Credit
Initial jobless claims dipped more than expected to 450,000 last week, while continuing claims plunged 84,000 to 4.49 million, signaling another week of modest progress on the labor front.
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Employers who used job cuts to save money during the economic crisis knew that layoffs would put strains on the workers who remained. But now, those cost-cutting measures are impairing their ability to attract the top talent th…