U.S. employers unexpectedly added jobs last month as the unemployment rate declined, signs that people are returning to work as states reopen their economies. President Trump celebrated the news.
LAS VEGAS (AP) — MGM Resorts International has announced that the furloughs of more than 60,000 employees caused by the coronavirus pandemic could turn into layoffs.
Airbnb CEO Brian Chesky described the global pandemic as the "most harrowing crisis of our lifetime" and said the coronavirus has cut the company's anticipated revenue in more than half.
Millions of jobs have been lost as businesses keep their doors closed to slow the spread of the coronavirus. Working women have been hit hardest, accounting for nearly 60% of the early job cuts.
The coronavirus recession hit local newspapers almost immediately. Many have already instituted layoffs or suspended publishing. Some may never come back.
The belt-tightening in response to the virus outbreak includes "the elimination of certain positions." The group had already canceled its annual meeting because of the virus outbreak.
The cuts and closures are part of the Macy's attempt to stabilize its finances and rethink its future. It's also trying out smaller stores outside of malls
"Workers' performance and workers' dedication to the company were secondary. Now, they'll be moved more to the forefront," state Sen. Joe Cryan, a co-sponsor of the bill, said.
LAS VEGAS (AP) — Las Vegas-based casino company MGM Resorts International has announced a first phase of layoffs in a cost-cutting operational shift as it aims to boost earnings.
Caesars Entertainment is planning to cut costs by laying off some of its corporate employees.
The company announced Thursday the layoffs could save $40 million per year. Caesars also says it will reduce the number of vacant jobs and slash spending on consultation.
The company announced the news in a memo to staffers. The layoffs, which are expected to mean over 200 lost jobs, come at a tumultuous time — for BuzzFeed and the online media industry.
The electric automaker is eliminating 7 percent of its workforce in a cost-cutting measure. "The road ahead is very difficult," Musk told employees in an email.
HAWTHORNE, Calif. (AP) — SpaceX will lay off 10 percent of its roughly 6,000 workers, announcing Friday that it needs to become leaner to accomplish ambitious projects such as creating a spaceship that can carry astronauts to Mars.
The cuts have already hit some well-known names, including veteran NFL reporter Ed Werder, college football analyst Danny Kanell and college basketball reporter C.L. Brown.
Steelworkers in Birmingham, Ala., are trying to figure out a new future now that U.S. Steel, one of the last major steel-making operations in the South, has closed.
The price of copper is down 40 percent from four years ago. Arizona residents from smaller mining towns worry about job losses, but some companies are planning to expand in the state.
Oil companies are laying off thousands of workers, and firms that provide services to support the industry — from drilling to seismic surveys — have been told they must slash costs to keep working.
