Norway’s overall unemployment falls to 8.2% in July – Reuters

OSLO, July 31 (Reuters) – Norway’s overall rate of unemployment fell to 8.2% in July from 9.6% in June as companies brought back more workers furloughed by the coronavirus pandemic, the Labour and Welfare Agency said on Friday. The o

OSLO, July 31 (Reuters) – Norway’s overall rate of unemployment fell to 8.2% in July from 9.6% in June as companies brought back more workers furloughed by the coronavirus pandemic, the Labour and Welfare Agency said on Friday. The o
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UPDATE 1-KLM says 1,500 new layoffs to bring total job cuts to 20% – Reuters

AMSTERDAM (Reuters) – KLM, the Dutch arm of Air France-KLM (AIRF.PA), said on Friday it would cut 1,500 additional jobs as part of a restructuring in which it needs to cut emissions by 50% by 2030 as well as prepare for recovering traffic after the coronavirus crisis. FILE PHOTO: A KLM Boeing 787-9 scale model…

AMSTERDAM (Reuters) – KLM, the Dutch arm of Air France-KLM (AIRF.PA), said on Friday it would cut 1,500 additional jobs as part of a restructuring in which it needs to cut emissions by 50% by 2030 as well as prepare for recovering traffic after the coronavirus crisis. FILE PHOTO: A KLM Boeing 787-9 scale model is seen in Paris, France January 10, 2018. REUTERS/Gonzalo Fuentes/File PhotoParent company Air France-KLM on Thursday reported a 1.55 billion euro ($1.8 billion) operating loss for the second quarter, with traffic down 95% from a year earlier. KLM said the new cuts would mean its workforce, which was 33,000 before the pandemic, would be reduced by 20% in all by
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Exxon Is Showing Us Exactly Who It Cares About

Exxon CEO Darren Woods (second from right) clapping at the New York Stock Exchange because money.Photo: Richard Drew (AP)Exxon is a known corporate miscreant, and nothing it does to preserve profits should come as a surprise anymore. And yet.In the face of a crippling pandemic and job crisis, the company has decided to do what…

Exxon CEO Darren Woods (second from right) clapping at the New York Stock Exchange because money.Photo: Richard Drew (AP)Exxon is a known corporate miscreant, and nothing it does to preserve profits should come as a surprise anymore. And yet.In the face of a crippling pandemic and job crisis, the company has decided to do what it does best: maximize shareholder value. A Reuters exclusive report on Thursday said the company is hellbent on paying out dividends to shareholders, and as part of a scheme to do so, it’s reportedly considering job and spending cuts. The company denied it, though Reuters pointed to circumstantial evidence the oil behemoth has been laying the groundwork that could make it easier to fire people based on performance metrics late last year as the pandemic worsened.And really, would it be that surprising? The only thing that matters to Exxon is making rich people more money. It lied about climate change for decades and put the entire biosphere at stake. Laying off a few thousand workers in the middle of a pandemic so it can pay out shareholders as promised is like a picnic in the park for the company. Nevertheless, it neatly illustrates a few key points about this moment in time.The first is that Big Oil is struggling mightily. Since the coronavirus ripped around the world and has stubbornly clung in the U.S. thanks to wildly incompetent and malevolent leadership, the economy has crashed. Unemployment is sky-high, the U.S. has seen its slowest economic growth rate eve
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UPDATE 1-U.S lawmakers want payments halted to airport contractors laying off workers – Reuters

WASHINGTON (Reuters) – Three key U.S. House of Representatives Democrats on Wednesday asked the Treasury Department to halt government assistance to a dozen airport contractors that have laid off more than 9,000 workers. The lawmakers found that more than $728 million in federal funds went to these companies even though the assistance was meant to…

WASHINGTON (Reuters) – Three key U.S. House of Representatives Democrats on Wednesday asked the Treasury Department to halt government assistance to a dozen airport contractors that have laid off more than 9,000 workers. The lawmakers found that more than $728 million in federal funds went to these companies even though the assistance was meant to keep workers on the payroll. The U.S. Treasury did not immediately comment. Representatives Peter DeFazio, who chairs the Transportation Committee, Maxine Waters, chair of the Financial Services Committee, and James Clyburn, chair of the select subcommittee on the Coronavirus Crisis, wrote Treasury Secretary Steven Mnuchin and four companies receiving assistance. Congress in March ap
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Lawmakers argue that big tech will grow even bigger as the pandemic drives people online

In his opening statements, the chairman of Wednesday’s historic tech hearing argued that regulating tech’s most dominant players is vital in the midst of the ongoing pandemic that has driven even more of American life online. “Prior to the COVID-19 pandemic, these corporations already stood out as titans in our economy,” House Judiciary Antitrust Subcommittee…

In his opening statements, the chairman of Wednesday’s historic tech hearing argued that regulating tech’s most dominant players is vital in the midst of the ongoing pandemic that has driven even more of American life online.
“Prior to the COVID-19 pandemic, these corporations already stood out as titans in our economy,” House Judiciary Antitrust Subcommittee Chair David Cicilline said. “In the wake of COVID-19, however, they are likely to emerge stronger and more powerful than ever before.”
The argument that tech stands to benefit from the COVID-19 crisis is a smart one — and a timely attack that’s difficult to dispute. While many major companies in other industries are struggling, grappling with layoffs or filing for bankruptcy, many of tech’s largest companies
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Takeda Pharmaceutical to cut sales jobs in Japan: sources – Reuters

TOKYO (Reuters) – Takeda Pharmaceutical Co (4502.T) is looking to cut sales jobs in Japan in its latest restructuring effort, as it overhauls domestic business following its $59 billion purchase of Shire Plc, sources familiar with the company’s plans said. FILE PHOTO: People walk past the new headquarters of Takeda Pharmaceutical Co in Tokyo, Japan,…

TOKYO (Reuters) – Takeda Pharmaceutical Co (4502.T) is looking to cut sales jobs in Japan in its latest restructuring effort, as it overhauls domestic business following its $59 billion purchase of Shire Plc, sources familiar with the company’s plans said. FILE PHOTO: People walk past the new headquarters of Takeda Pharmaceutical Co in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-HoonMajor pharma companies in Japan have scaled down their sales forces to cope with a shrinking market and cuts in drug prices imposed by the national health system. The layoffs by Takeda, Japan’s biggest drug maker, will be focused on sales positions, two industry sources told Reuters
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Takeda Pharmaceutical to cut sales jobs in Japan, sources say – Reuters UK

TOKYO (Reuters) – Takeda Pharmaceutical Co (4502.T) is looking to cut sales jobs in Japan in its latest restructuring effort, as it overhauls domestic business following its $59 billion purchase of Shire Plc, sources familiar with the company’s plans said. FILE PHOTO: People walk past the new headquarters of Takeda Pharmaceutical Co in Tokyo, Japan,…

TOKYO (Reuters) – Takeda Pharmaceutical Co (4502.T) is looking to cut sales jobs in Japan in its latest restructuring effort, as it overhauls domestic business following its $59 billion purchase of Shire Plc, sources familiar with the company’s plans said. FILE PHOTO: People walk past the new headquarters of Takeda Pharmaceutical Co in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-HoonMajor pharma companies in Japan have scaled down their sales forces to cope with a shrinking market and cuts in drug prices imposed by the national health system. The layoffs by Takeda, Japan’s biggest drug maker, will be focused on sales positions, two industry sources told Reuters
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Westpac to move 1,000 overseas call centre jobs to Australia – Reuters India

Pedestrians walk past the ground floor of an office building with Westpac logo amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. Picture taken June 3, 2020. REUTERS/Loren Elliott/Files(Reuters) – Westpac Banking Corp said on Wednesday it will bring back 1,000 call centre jobs…

Pedestrians walk past the ground floor of an office building with Westpac logo amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. Picture taken June 3, 2020. REUTERS/Loren Elliott/Files(Reuters) – Westpac Banking Corp said on Wednesday it will bring back 1,000 call centre jobs to Australia from overseas to meet growing demand for customer assistance due to the coronavirus pandemic. Westpac said the roles will be spread out over regional and met
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Singapore’s jobless rate jumps in Q2, nearing financial crisis peak – Reuters

FILE PHOTO: People walk at the central business district, amid the coronavirus disease (COVID-19) outbreak, in Singapore July 14, 2020. REUTERS/Edgar SuSINGAPORE (Reuters) – Singapore’s jobless rate rose sharply in the second quarter to a new decade-high of 2.9%, provisional data showed on Wednesday, as the COVID-19 pandemic saw employment shrink in the services and…

FILE PHOTO: People walk at the central business district, amid the coronavirus disease (COVID-19) outbreak, in Singapore July 14, 2020. REUTERS/Edgar SuSINGAPORE (Reuters) – Singapore’s jobless rate rose sharply in the second quarter to a new decade-high of 2.9%, provisional data showed on Wednesday, as the COVID-19 pandemic saw employment shrink in the services and construction sector. The overall unemployment rate climbed
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UPDATE 1-Westpac to move 1,000 overseas call centre jobs to Australia – Reuters

(Adds details of where the jobs will come from and CEO comment) July 29 (Reuters) – Westpac Banking Corp said on Wednesday it will bring back 1,000 call centre jobs to Australia from overseas to meet growing demand for customer assistance due to the coronavirus pandemic. Westpac said the roles will be spread out over…

(Adds details of where the jobs will come from and CEO comment) July 29 (Reuters) – Westpac Banking Corp said on Wednesday it will bring back 1,000 call centre jobs to Australia from overseas to meet growing demand for customer assistance due to the coronavirus pandemic. Westpac said the roles will be spread out over regional and metro areas and will be filled by new and existing employees. The process will take a year and will lead to a rise in costs of about
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