Elon Musk beginning mass layoffs at Twitter
Musk is expected to proceed with plans to lay off about 50 percent of Twitter’s staff, according to people familiar with the matter.
Musk is expected to proceed with plans to lay off about 50 percent of Twitter’s staff, according to people familiar with the matter.
The list of employees being eliminated includes personnel in management, finance, facilities, recruitment, marketing, technology and strategy.
America’s employers slowed their hiring in September but still added a solid number of jobs, likely keeping the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation.
The smaller August gain will likely be welcomed by the Federal Reserve, which is rapidly raising interest rates to try to cool hiring and wage growth.
The Indiana Supreme Court found the church-autonomy doctrine prohibits the state from interfering in the Catholic Church’s dispute with a high school teacher who claimed he was fired for being in a same-sex marriage.
The increase that the government reported Tuesday will be a disappointment for Federal Reserve officials, who are seeking to cool hiring by raising short-term interest rates to try to slow borrowing and spending, which tend to fuel inflation.
Legal aid agencies across the state are struggling to find and hire attorneys to fill full-time staff positions. Providers speculate that lower bar passage rates and high demand for lawyers across the legal profession have created a supply issue.
Job openings have been edging lower since April as rising inflation tightens its grip on businesses and crimps consumer spending.
Meanwhile, the state’s labor force participation improved from 62.6% in April and 62.9% in May to 63.1% in June, which was slightly higher than the 62.2% national rate.
The government also reported earlier in July that U.S. employers advertised fewer jobs in May amid signs that the economy is weakening, though the overall demand for workers remained strong.
The job growth in May was high enough to keep the Federal Reserve on track to pursue what’s likely to be the fastest series of rate hikes in more than 30 years.
The May jobs report the government will issue Friday coincides with inflation near a four-decade high and worries about higher borrowing rates and a potential recession roiling the stock market.
Researchers predict an average of 33% of youths ages 16 to 19 will be employed each month from June through August this year, the highest such rate since 34% in the summer of 2007.
After handing out hefty salary increases over the past year, companies are now becoming more cautious with their cash over concern further big payouts will eat into profits, according to staffing companies, business owners and recent surveys.
American workers are enjoying historically strong job security two years after the coronavirus pandemic plunged the economy into a short but devastating recession.
With many industries slowed by labor shortages, companies have been jacking up wages to try to attract job applicants and retain their existing employees. Even so, pay raises haven’t kept pace with the spike in consumer prices.
In some cases, workers say rising costs—and the inability to keep up while on a fixed income—are factoring heavily into their decisions.
Wages also rose sharply, a sign that companies are competing fiercely to fill their open jobs. A record-high wave of quitting, as many workers seek better jobs, is also fueling pay raises.
Employers hired 6.7 million people in November, up from 6.5 million in October, the Labor Department reported Tuesday in its monthly Jobs Openings and Labor Turnover Survey.
Businesses that had been in COVID-19 lockdown mode for a year suddenly needed lots of employees to flip burgers, stock shelves and sell merchandise. Customers were back after restrictions were lifted and thousands of people were getting vaccinated.