Recent job articles
October job losses hit a 14 year high- Where is the bailout money really going? CEO's pockets
- Wall Street expects more than 200,000 layoffs
- Circuit City is closing 150 stores in the United States
- Redundancy Entitlements
- Yahoo is set to cut 3,500 jobs by the end of the year
- Tesla Motors gets a new CEO, layoffs are coming
- Most American corporations don't pay income taxes
- PepsiCo is cutting 3,300 jobs around the world
- Jones Soda is laying off 40 percent of their workers
- UBS Bank is cutting over 2,000 jobs
- Kraft Foods is cutting 400 jobs in North America
- eBay is cutting jobs during hard economic times
- Obama calls for small-business rescue plan
- Thousands of jobs are being lost in the United Kingdom
300,000 Australians might lose their jobs due to bad economy
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The Australian economy will not be protected from the worsening global financial crisis, with forecasts of 300,000 job losses as sectors of the economy plunge into recession.The meltdown is now deep enough to cause the economy to slow rapidly, with forecasts by NAB showing growth could fall to less than 1 per cent in the next year. The slowdown will be driven by and sharp declines in commodity prices, hammering national export income, and falling wealth levels.
The market crash cost Australian investors $95 billion yesterday, taking the cost of the bleak week to $190 billion. In yesterday's session, the S&P/ASX200 ended at 3960.7, down 360.2 points, while the All Ordinaries closed at 3939.5, off 351.8.
The week's performance -- 15 per cent of share value was lost -- was the worst since the 1987 crash. More.
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