layoffs
Nobody enjoys paying taxes, so hearing that Congress is cutting the IRS budget might inspire you to applaud. But this is the agency that makes sure the rest of government gets funded, and stops the unscrupulous from dodging their fair share of the burden.
Did Warren Buffett Make a Bad Call on Bank of America?
9:00AM 12/22/2011
By Rich Smith, The Motley Fool
Company News, Investing, Berkshire Hathaway, Bank of America
When Warren Buffett announced in August that he would spend $5 billion to snap up Bank of America shares, investors cheered. Surely this must mean that we've seen the end of the bad news from America's biggest bank, right? Wrong. So did the Oracle of Omaha blunder?
Far fewer people are seeking unemployment benefits than just three months ago %u2014 a sign that layoffs are falling sharply. The number of people applying for benefits fell last week to 366,000, the fewest since May 2008. If the number stayed that low consistently, it would likely signal that hiring is strong enough to lower unemployment.
Banks Back Away from New Fees, Focus on Cost Cutting Instead
8:15AM 10/29/2011
Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, Banking
The financial world's fee fever may have abated -- for now. Several big and medium-sized banks say they're not implementing fees for debit card use anytime soon. But with bank revenues slipping, they do need to act, and more are considering cost cuts to repair their bottom lines.
For Workers Laid Off in Recessions, Big Pay Gaps Persist for Decades
6:15PM 10/06/2011
No matter when a person gets laid off, it can have long-lasting financial consequences -- among them, a wage gap that persists for years. But a new study reveals that men who are part of a mass layoff during a recession lose 72% more over their lifetimes than men who lose jobs in during periods of economic growth.
The 63 restaurants Friendly's closed on Wednesday resulted in about 1,260 layoffs -- more than 12% of the company's 10,300 person workforce. Everyone from managers to dishwashers were told Tuesday evening that the following day would be their last at Friendly's.
Advice for an Executive Laid Off After Decades With One Firm
8:30AM 9/29/2011
Rhonda, a 57-year-old Californian, was laid off in September after 37 years with a medical laboratory company. Now she needs to dust off those rusty job hunting skills, and figure out her financial next steps too. DailyFinance's Laura Rowley brought in a couple of experts to guide her.
Corporate executives stick to a script when pulling the layoff lever: Cite the tough economic landscape, promise that employees will remain the firm's most valued asset, insist that there was no other option to protect the company's future. Here's why you shouldn't buy what corporate America's selling when it comes to life-ruining layoffs.
Then and Now: How the Economy Has Changed Since 9/11
7:00AM 9/11/2011
Many of the economic problems of Sept. 11, 2001, feel awfully familiar today: Recession, bursting bubbles, low consumer confidence, predatory lending. But of course, it's a whole new world now, so we asked economists what the most significant shifts of the past decade have been.
Consumer Reports Index: Americans' Financial Health Is a Tad Better
11:30AM 9/07/2011
The American consumer's financial health is showing signs of improvement, but the weak job market continues to derail the nation's economic recovery -- particularly for people in the lower income brackets, according to September's Consumer Reports Index, released on Tuesday.
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