Aerospace giant Boeing will lay off over 200 workers that are based in South Carolina as part of a large-scale cost-cutting drive that will cut 17,000 employees, which equals 10% of its workforce.
Read More Boeing To Lay Off Over 2K Workers As Part Of Plans To Reduce Workforce By 10%
General Motors laid off almost 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions.
Read More GM Cuts 1K Jobs In Cost-Cutting Reorganization
The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labor market continued to chug along.
Read More US weekly jobless claims fall; unemployment rolls shrink
The number of Americans filing new applications for unemployment benefits fell to a five-month low last week and consumer spending increased more than expected in September.
Read More Weekly jobless claims at five-month low; consumer spending rises solidly
U.S. job openings fell to the lowest level in more than 3-1/2 years in September, pointing to a considerable easing in labor market conditions.
Read More US job openings drop to more than 3-1/2 year low in September
Boeing workers voted to reject the company’s latest contract proposal on Wednesday that would’ve ended a strike that has lasted over 40 days.
Read More Boeing Machinists Reject Latest Contract Proposal, Strike Continues Into 6th Week