Starbucks to cut corporate jobs as CEO continues overhaul of coffee giant
Starbucks announced on Friday that it plans to cut an unspecified number of jobs as part of a restructuring of its internal staff. In a letter to employees, Starbucks Chairman and CEO Brian Nicol said in a letter to employees that the Seattle coffee giant is committed to having clear and accountable owners who can […]
Citigroup cutting more jobs to meet CEO’s expense goals despite strong quarter
Citigroup will cut more jobs this week to meet Chief Executive Officer Jane Fraser's expense goals, Bloomberg News reported Thursday, citing people familiar with the matter. The managing directors of wealth and technology will step down, and Citi will also lay off members of the team that compiles data and analytics for the bank's clients, […]
‘Pure Socialist Wish Fulfillment’: Biden Attempts To Trump-Proof AOC’s Favorite Jobs Program
As President-elect Donald Trump's inauguration approaches, President Joe Biden's lame-duck administration is rushing forward with a green jobs program to counter Trump. President Biden is “quietly winding down” the American Climate Corps (ACC), the de facto environmental public works program established in September 2023. presidential order Hire and train civilians to work on climate change […]
TikTok tells US employees their jobs are ‘secure’ even if app is banned: internal memo
TikTok plans to continue paying its U.S. employees even if the Supreme Court doesn't overturn laws forcing or banning the short video app's sale in the U.S., company executives said Tuesday. This was said in an internal memo seen by Reuters. This hugely popular platform is owned by China-based ByteDance, which has 7,000 employees in […]
U.S. Jobs Market Strengthens For Third Straight Month, Conference Board Says
The U.S. labor market is likely to remain strong in the coming months, according to monthly employment trends indicators, indicating that the softening seen in the middle of last year is temporary. The Conference Board's employment trends index rose to 109.7 from a downwardly revised 109.45 in December, a private research group said Monday. “The […]
US Dollar Forecast: DXY Gains, EUR/USD Drops as U.S. Jobs Data Boosts Fed Pause Case – FX Empire
The index is holding steady above its 50-day moving average of 106.812, confirming a strong intermediate uptrend. The 200-day moving average of 104.557 provides long-term support. DXY rose 0.44% to 109.640, its highest since November 2022, and its sixth straight week of gains, the longest since 2023. Strong payroll data fuels dollar momentum The Labor […]
U.S. Economy Added 256,000 Jobs In December
U.S. employers added 256,000 workers in November, and the unemployment rate fell to 4.1%, the Labor Department said Friday. Economists had expected 153,000 jobs and a flat unemployment rate of 4.2%. Employment figures for the previous month were revised downward from 227,000 to 212,000. Most of the job creation in December came from the private […]
US adds whopping 256K jobs in December
The U.S. added 256,000 jobs in December, and the unemployment rate fell to 4.1%, according to data released Friday by the Labor Department. December employment data showed the U.S. economy outperformed year-end forecasts. Economists expect the U.S. to add 155,000 jobs and keep the unemployment rate at 4.2%, according to consensus estimates. The new employment […]
US adds 256K jobs in December, dimming rate cut hopes
U.S. employers added a surprisingly strong 256,000 jobs in December, but hopes that the Federal Reserve will cut interest rates anytime soon are fading. The explosive numbers released by the U.S. Bureau of Labor Statistics were a sharp increase from the previous month as employment recovered from strikes and major hurricanes, and lifted traders' expectations […]
US economy added 256K jobs in December, well above expectations
Kathryn Rooney Vera, chief market strategist at StoneX, talks about the importance of reducing federal spending on moneymaking. The U.S. economy added jobs faster than expected in December, as Federal Reserve policymakers watch the strength of the labor market ahead of a meeting later this month. The Labor Department reported Friday that employers added 256,000 […]