As part of its cost-cutting strategy, telecom equipment manufacturer Ericsson will layoff 8,500 workers globally, according to a memo written to staff members and seen by Reuters news agency. “The way headcount reductions will be managed will differ depending on the local country practice,” Chief Executive Borje Ekholm wrote in the memo. “In several countries, […]
Surrounded by kindergarteners, Lana Scott held up a card with upper and lower case Ys, dotted with pictures of words that started with that letter: Yo-yo. Yak. Yacht. “What sound does Y make?” Scott asked a boy. Head down, he mumbled: “Yuh.” Instead of moving on, she gave him a nudge. “Say it confident, because […]
In South Korea, free subway rides for the elderly become a political headache Every day, 71-year-old Park Gyung-sun delivers flowers, documents and other packages around Seoul – a job popular among senior citizens who are entitled to ride the city’s subways for free. The work, dubbed “silver delivery” in South Korea, earns Park, a former […]
Neiman Marcus Group said on Tuesday it would lay off about 5% of its workforce, or around 500 employees, as the luxury department store chain looks to cut costs in a tough economy. The Dallas-based luxury icon, which also owns Bergdorf Goodman, is preparing to distribute pink slips this week to nearly 500 of Neiman’s […]
Ford Motor Co. is planning to slash 3,800 jobs in Europe over the next three years to lower costs and boost profits as it continues to shift toward electric vehicles, the auto maker said on Tuesday. The bulk of the job cuts would primarily hit Ford’s European product development staff, reducing the number of Europe-based […]
Inflation eased for a seventh month straight in January, but interest rates will keep rising as the Fed works harder to root stubbornly high prices out of the economy. Data released by the Bureau of Labor Statistics on Tuesday morning showed prices rose 6.4 percent in January compared to the year before. That marked a […]
Barney is back, and while Mattel has not yet officially confirmed it, we’re guessing he still loves you. Toy giant Mattel (MAT) announced Monday that Barney, the friendly (and, let’s be honest, cringe-worthy to a large group of Millennials who watched him as pre-schoolers, and to their parents) purple dinosaur is making a triumphant […]
New York City, which once had the nation’s strictest workplace vaccination rules for COVID-19, is ending one of its last such mandates, saying it will no longer require the shots for municipal employees including police officers, firefighters and teachers. The vaccine mandate, which led to the firing of hundreds of city workers who declined to […]
EBay Inc. is cutting about 500 employees — or 4% of its workforce — as the e-commerce company continues to face slower consumer spending after a brief pandemic boom. The reductions are in response to the “macroeconomic situation around the world,” Chief Executive Officer Jamie Iannone said Tuesday in a statement, and are necessary to […]
A 30% national sales tax? Abolishing the IRS? What the FairTax Act of 2023 would do. There is hardly an area of American life more subject to partisan debate than the tax code. Democrats want to raise taxes. Republicans want to slash them. At least that’s how the well-worn narrative goes. But, in actuality, debate […]