Tag: Lay-offs/Redundancies
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Biogen to slash 1,000 jobs as it looks to save $700 million
[ad_1] Biogen Inc. BIIB, -3.58% said Tuesday that it will eliminate about 1,000 jobs as part of a broader cost-cutting initiative designed to save $700 million annually. The belt-tightening comes as the biotech company launches its Alzheimer’s treatment, Leqembi, a collaboration with Eisai Co. Ltd. ESALF, -2.36% that received full U.S. Food and Drug Administration…
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Jobless claims drop to 237,000 and point to still-strong U.S. labor market
[ad_1] The numbers: The number of Americans who applied for unemployment benefits last week fell by 12,000 to 237,000, indicating most companies are reluctant to fire workers even in a more uncertain economic environment. New jobless claims declined from a revised 249,000 in the prior week, government data showed. The decline could be tied in…
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Microsoft is cutting more jobs, after laying off 10,000 earlier this year
[ad_1] Microsoft Corp. will cut more jobs, in addition to the 10,000 layoffs announced earlier this year. GeekWire first reported that a new round of cuts was announced Monday, targeting employees in customer service, support and sales. The number of layoffs was not revealed, but a filing with Washington state’s Employment Security Department said 276…
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Worker pay is still going up fast — and that means higher interest rates
[ad_1] Rising pay is usually a good thing for workers and the economy, but right now higher wages might be too much of a good thing. Why? Bigger paychecks are adding to inflation and making it harder for the Federal Reserve to get prices under control. As a result, the Fed is likely to keep…
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UBS reportedly cutting half of Credit Suisse workforce after merger
[ad_1] UBS AG is preparing to cut more than half of Credit Suisse’s workforce and about 35,000 jobs, or 30%, of the combined staff of the two banks next month now that the merger deal has closed, according to a Bloomberg report Tuesday, citing people familiar with the bank. Credit Suisse employs about 45,000 staff…
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What skill sets are needed for workers in the AI era
[ad_1] Corporate leaders appear to be excited about the revolutionary potential of artificial intelligence. And their employees? Not so much. It’s no surprise, perhaps, that 62% of bosses in a recent Boston Consulting Group survey said they felt optimistic about AI’s impact on work, while only 42% of employees said they felt the same way,…
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Spotify will lay off 200 employees as it shakes up podcast strategy
[ad_1] Spotify Technology SA plans to lay off about 200 employees, or roughly 2% of its workforce, as it shifts its strategy around podcasts. The company announced Monday that it’s making a “fundamental pivot” from offering “a more uniform proposition” to tailoring its approach based on different podcasts and creators. “As a result, we have…