Layoffs, Economic Crisis | featured news

Gov. David A. Paterson cited the state’s financial problems in announcing a decision that reverses an earlier pledge.

The government says the number of newly-laid off workers seeking unemployment insurance fell last week, fresh evidence that layoffs are easing.

The pace of private-sector U.S. job losses slowed dramatically last month, while future planned layoffs also declined, and the hard-hit housing sector showed signs of improvement last week.

To get nervous consumers to buy, companies are promising refunds, and sometimes more, in the event of a job loss.

French workers at a factory south of Paris free their boss after holding him hostage in a dispute over lay-offs.

Striking French workers of an American manufacturing company looked likely to hold their boss hostage for a second night on Wednesday after locking him in for more than 24 hours, as nationwide anger mounted over layoffs.

The practice gives workers some security but, over time, employee morale still suffers.