Tag Archive
Filing Bankruptcy Yourself
During the current recession, there are a lot of people who are declaring bankruptcy. This is due to various reasons and the most common of them are layoffs and medical bills. Due to economic slowdown, there are a lot of companies which are looking to cut costs and reducing the manpower seems to be... »
Caterpillar to slash jobs after fourth quarter loss
US’s largest construction equipment manufacturer, Caterpillar Inc., has reported 2008 fourth-quarter loss of 32% to USD 661 million, down from USD 975 million a year earlier. Following the losses, the company has also decided to reduce its workforce by about 20,000 employees, equivalent to almost 18% of its staff. The layoffs, the worst since... »
ArcelorMittal lays off 1,000 jobs in Poland
The world’s largest steel maker, the ArcelorMittal Group has decided to cut 1,000 production employees from its plants in Poland, ones that have the lowest production costs among all its group plants. Despite claims in their policy the company deviated from their promise of a cut off. Although they claim that the cut will... »
