Latest Layoffs News

China manufacturing weak, adding to economy pressure

Sep. 30, 2022 05:42 AM EDT

BEIJING (AP) — Growth in Chinese factory activity was weak in September, export orders fell and employers cut jobs, two surveys showed Friday, adding to pressure on lackluster economic growth. A monthly purchasing managers’ index released by business news magazine Caixin fell to...

EXPLAINER: How do we know when a recession has begun?

Sep. 29, 2022 13:25 PM EDT

WASHINGTON (AP) — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession. At the same time, the number of people seeking unemployment benefits — a figure that...

Fewer people seek US unemployment aid amid solid hiring

Sep. 29, 2022 09:26 AM EDT

WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy. Applications for unemployment benefits for the week ending Sept. 24 fell by 16,000 to 193,000, the Labor...

More Americans apply for jobless aid last week

Sep. 22, 2022 08:59 AM EDT

WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation. Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000, the Labor...

EXPLAINER: How do we know when a recession has begun?

Sep. 21, 2022 16:37 PM EDT

WASHINGTON (AP) — The Federal Reserve sent a sobering message Wednesday after it announced its latest big interest rate hike: It plans to keep raising rates as long as it takes to conquer the worst inflation bout in decades — even at the risk of causing a recession in the process. ...

Gap slashes 500 corporate jobs in cost-cutting move

Sep. 20, 2022 17:34 PM EDT

NEW YORK (AP) — Gap is slashing 500 corporate jobs in San Francisco and New York as it looks to reduce expenses amid languishing sales. The job cuts, confirmed by a company spokesperson, follow years of struggle at the San Francisco-based retailer, which operates its namesake...

Leaky pen and staff job cuts: King Charles under scrutiny

Sep. 14, 2022 11:59 AM EDT

LONDON (AP) — Reports that up to 100 staff at King Charles III’s former residence could lose their jobs have drawn criticism of the British monarchy, within days of his accession to the throne. The Guardian newspaper reported Tuesday that dozens of staff at Clarence House,...

Lower US job gain in August could aid Fed's inflation fight

Sep. 02, 2022 13:19 PM EDT

WASHINGTON (AP) — America's employers added a healthy number of jobs last month, yet slowed their hiring enough to potentially help the Federal Reserve in its fight to reduce raging inflation. The economy gained 315,000 jobs in August, a still-solid figure that pointed to an...

Fewer Americans file for jobless benefits last week

Sep. 01, 2022 09:03 AM EDT

WASHINGTON (AP) — Fewer Americans filed for unemployment benefits last week as the labor market continues to shine despite weakening elements of the U.S. economy. Applications for jobless aid for the week ending Aug. 27 fell by 5,000 to 232,000, the Labor Department...

Bed Bath & Beyond to close stores, cut jobs in rebound bid

Aug. 31, 2022 18:17 PM EDT

NEW YORK (AP) — Bed Bath & Beyond said Wednesday that it will shutter stores and lay off workers in a bid to turn around its beleaguered business. The home goods retailer based in Union, New Jersey, said it will close about 150 of its namesakes stores and slash its workforce by...