Word: cutting
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...being discussed to do that is for the government to share in the losses if a servicer modifies a mortgage and the homeowner again defaults. Another approach is to directly help pay for the cost of the modification. The servicer might cut monthly payments to 38% of a borrower's income with the government chipping in to reduce the payment down to 31%, a presumably more sustainable level. Either tactic could be combined with a direct payment - $1,000 is a figure often mentioned - to incentivize servicers to do the heavy lifting of figuring out how much a homeowner...
Some of the companies that need to let people go have lost such a large portion of their sales that they have virtually no choice but to cut staff. That certainly holds true for GM (GM) and United Airlines (UAUA...
...haven't seen the end of it yet. A survey of some 400 personnel departments by the Society for Human Resource Management found that 21% of respondents figure they'll make further cuts before the end of March. Job losses at large companies are expected to be the worst, with 34% of companies with more than 500 employees planning layoffs. Of the firms paring workforce, 56% say they'll let go of managers and professionals, 43% plan to cut hourly service workers, 27% will lay off skilled laborers and 12% anticipate trimming senior executives. (See who's to blame...
...over the summer.” Much of last fall’s economic turmoil occurred in the gap between when most other top law school’s welcome recruiters and Harvard Law School conducts their interviews. As a result, rattled law firms changed their hiring goals and cut the number of Harvard summer associates they planned to hire. Some students were therefore forced to find jobs using means other than on-campus recruiting. One student—who requested to remain anonymous—was unable to secure a position through on-campus recruiting and said it seemed...
...liquefier—promised as part of the designs for the Laboratory for Integrated Science and Engineering—has served as an uncomfortable reminder for some professors that research agendas may have to take a backseat to fiscal prudence as University administrators make tough decisions about how to cut budgets...