ContractCentral Blog

Anheuser-Busch cutting 5,500 jobs

September 9, 2016 – 1:04 pm

Anheuser-Busch BUD -2.47% expects to cut some 3% of its combined workforce after it has acquired rival SABMiller, according to takeover documents published on Friday. Read more:

Dell cutting up to 3,000 jobs

September 9, 2016 – 1:02 pm

Dell Technologies, which completed the acquisition of data storage company EMC Corp on Wednesday, will cut 2,000-3,000 jobs, Bloomberg reported. Read more:

Wells Fargo fires 5,300 for creating millions of phony accounts

September 8, 2016 – 3:14 pm

Wells Fargo confirmed that it had fired 5,300 employees related to the shady behavior. Employees went to far as to create phony PIN numbers and fake email addresses to enroll customers in online banking services, the CFPB said. Read more:

Caterpillar Hires H-1B Foreign Graduates, Fires 300 American Professionals

September 7, 2016 – 8:29 am

Caterpillar is firing 300 American employees in Mossville, Illinois, even though it is continuing to recruit and pay foreign “H-1B” guest-workers to do the white-collar jobs sought by American professionals in the United States. Read more:

WalMart to Cut 7,000 jobs

September 1, 2016 – 11:15 am

Wal-Mart Stores Inc. plans to cut thousands of back office positions around the country, a sign that the retailer’s effort to make its cavernous stores more efficient is also changing the face of its workforce. Read more:

U.S. GDP slips to 1.1%

August 26, 2016 – 8:57 am

U.S. economic growth was a bit more sluggish than initially thought in the second quarter as businesses aggressively ran down stocks of unsold goods, offsetting a spurt in consumer spending. Read more:

World’s Biggest Pension Fund Loses $52 Billion

August 26, 2016 – 8:22 am

The world’s biggest pension fund posted a $52 billion loss last quarter as stocks tumbled and the yen surged, wiping out all investment gains since it overhauled its strategy by boosting shares and cutting bonds. Read more:

Uber Losing $2.4 Billion per Year Despite U.S. Profits

August 26, 2016 – 8:20 am

Uber lost $1.2 billion in the first six months of 2016, despite Uber Technologies Inc.’s claims that its U.S. business became profitable this year. Read more:

Macy’s is closing another 100 stores | Project Economy – WXII Home

August 11, 2016 – 9:04 am

Another 100 struggling Macy's stores are disappearing. Macy's announced plans on Thursday to close about 15% of its department stores, the latest effort to adapt to shifting consumer preferences for shopping online at Amazon and elsewhere. Read more:

Productivity drops for third straight quarter

August 9, 2016 – 11:59 am

Productivity, a sore spot for the U.S. economy over the past few years, has now declined in three straight quarters, according to data released Tuesday. Read more:

Refuel your battery instead of recharging it…

August 2, 2016 – 9:32 am

NanoFlowcell battery refueling proposition is far better than recharging vehicles. The concept is that, instead of a 1,500-pound lithium-ion battery that can take hours to fully recharge. The set-up includes two tanks – one with positive liquid electrolytes and one ...

Seven Years Later, Recovery Remains the Weakest of the Post-World War II Era

July 29, 2016 – 2:58 pm

Even seven years after the recession ended, the current stretch of economic gains has yielded less growth than much shorter business cycles. Read more:

US GDP grew a weak 1.2 percent in second quarter

July 29, 2016 – 2:57 pm

The Commerce Department said Friday that the gross domestic product — the broadest measure of the economy — grew at a 1.2 percent annual rate in the April-June quarter. That was far below the 2.6 percent GDP growth rate that ...

Hillary’s Planned Tax Hikes (Full List)

July 29, 2016 – 7:22 am

Hillary Clinton has made clear she intends to dramatically raise taxes on the American people if elected. She has proposed an income tax increase, a business tax increase, a death tax increase, a capital gains tax increase, a tax on ...

ConocoPhillips to lay off 1,000 workers

July 25, 2016 – 2:13 pm

The Houston-based energy company plans to lay off about 1,000 people this year, the Wall Street Journal reported Thursday. That's about 6 percent of its workforce companywide. The largest impact will be in North America. Read more:

More layoffs on John Deere as Economy Tanks

July 25, 2016 – 2:12 pm

About 120 production employees at John Deere Harvester Works in East Moline have learned they will be laid off indefinitely starting Sept. 6, according to a Deere & Co. announcement Friday. Read more:

Sony zaps more jobs following poor results

July 22, 2016 – 3:27 pm

After a string of lukewarm movie releases from its Hollywood studio, Sony Corp.’s Tokyo headquarters is telling its US operation to slash costs. Read more:

Obamacare premiums going up another 13% in California

July 20, 2016 – 11:40 am

Premiums for Covered California health insurance will increase more than 13% next year. Officials blamed rising medical care for the price hike. “We’re paying more for less. Insurers are limiting access to doctors and hospitals while also demanding a higher ...

Americans pay much more than other countries for Health Care

July 19, 2016 – 10:33 am

Once you see these prices, you won't wonder why America is on track to spend 20 percent of its GDP on health care by 2025. Read more:

Migrant Crisis Bankrupting Cities

July 8, 2016 – 9:52 am

As a result of the migrant influx to Germany, nearly a third of municipalities in a new study revealed that they would have to go into debt this year. Read more:

Bing files for bankruptcy

July 8, 2016 – 9:00 am

Bing Energy is filing for bankruptcy and suing several of its key former collaborators in a nasty, international legal battle involving accusations of corporate espionage, back-stabbing and theft. Read more:

Boston Grand Prix files for bankruptcy

July 7, 2016 – 12:32 pm

Boston Grand Prix, LLC has filed for bankruptcy following the cancellation of IndyCar Boston after the sale of tickets and sponsorship's had already began. In the filing, Boston Grand Prix says it has less than $50,000 in assets... Read more:

Income Inequality Experts among Wealthiest 2% of Americans

July 3, 2016 – 10:27 am

A new report from the California Policy Center has revealed that “income inequality” experts at the Univeristy of California at Berkeley earn more than $300,000 a year, placing them in the top 2% of all American earners. Read more:

Homelessness up 4%

July 1, 2016 – 10:18 am

The homeless tally statewide increased from 7,620 to 7,921, a jump of 301 homeless individuals, or a total increase of 4 percent. That movement is moderate, however, when compared to leaps made in the previous two years. The homeless population ...

Mattel confirms Mass Layoffs at Fisher-Price

June 26, 2016 – 9:05 am

Several positions in the company’s finance department will be outsourced overseas, Mattel confirmed Wednesday. Those positions include corporate shared services such as accounts payable. Read more:

Kellogg cutting 155 jobs

June 25, 2016 – 5:26 pm

Kellogg informed state and Rossville officials that about 155 jobs will be eliminated between this fall and the end of 2017. Read more:

Maxus Energy files for bankruptcy

June 20, 2016 – 8:52 am

Maxus Energy Corp. filed for bankruptcy protection Friday after reaching a deal with its corporate parent, YPF SA, on the terms of a settlement tied to liabilities for the cleanup of New Jersey’s contaminated Passaic River. Read more:

Giant USA getting SMALLER (Thanks Obama)

June 20, 2016 – 8:51 am

Giant USA is laying off ten employees and consolidating some departments at its headquarters as it adjusts to soft market conditions. General manager JT Thompson told employees and outside sales reps about the layoffs in a company-wide meeting Friday. Read more: ...

There’s a new kind of housing crisis

June 20, 2016 – 8:48 am

A majority of poll respondents – 81% - said housing affordability is a problem. Over half the respondents, 53%, said they’d had to make sacrifices over the past three years to be able to pay their mortgage or rent. Read more: ...

Study: Migrants Hurt Long Term Economic Growth

June 19, 2016 – 8:53 am

A new study casts doubt on migrants propping up the economy, saying that they could heavily impact the economy in a negative manner. Read more:

Bank Of America to Fire 8,000 as Layoffs Accelerate

June 17, 2016 – 11:44 am

Bank of America has announced that it will fire as many as 8,000 employees within its consumer division the FT reports.The core reason given for the headcount reduction in this instance is that digital banking is picking up the pace, ...

Bobcat confirms 250 layoffs

June 17, 2016 – 11:42 am

Bobcat Company confirmed Tuesday that it laid off nearly 250 hourly and salaried workers at both its Bismarck and Gwinner manufacturing plants. Read more:

Apple supplier Synaptics laying off 160

June 17, 2016 – 11:39 am

Synaptics Inc. plans to lay off 160 employees and close some offices, according to information filed Thursday with the Securities and Exchange Commission. Read more: