Economic Crisis, Job Cuts | featured news

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

In today’s job market, many good-paying jobs are being lost but aren't being replaced. As a result, some workers are finding they need more than one job to make ends meet.

Continental Airlines posted a big loss for the second quarter as traffic fell, and the carrier says it will cost 1,700 jobs and raise the fee for checking luggage.

Most economists in the Journal's forecasting survey said the U.S. doesn't need another round of stimulus, despite expectations of severe job losses.

The economy lost 539,000 jobs in April, the government reported on Friday, a sign that the relentless pace of job losses was starting to level off.

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.

General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take more than half its stock in exchange for half of GM's government debt as part of a major restructuring that would leave current shareholders holding just 1 percent of the company.

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

ADP report indicates loss of 742,000 private-sector jobs, well ahead of expectations.

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