Word: cutting
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...just afternoon tea that's falling by the wayside at the famously employee-friendly firm. Although Google hasn't handed out pink slips to any of its 20,000 full-time employees, it has cut about half its additional 10,000 contract workers in recent months. Previously one of the biggest recruiters of M.B.A.s on college campuses, Google is now eschewing such pricey new hires, although it is still bringing on new engineers...
...collection of anecdotes from market experts, economists, "key business contacts" and reports from Bank and Branch directors all over the country. Published eight times per year, the latest Beige Book will be used in the upcoming Dec. 16 monetary-policy meeting, when the Fed will determine whether to cut interest rates...
...Three Blew It Of all Detroit's failures - the failure to master small cars, failure to cut costs, failure to get tough with the UAW, failure to improve fuel efficiency - the failure to learn, says MacDuffie, is perhaps its worst...
Throwing a lifeline to Europe's rapidly sinking economy, the European Central Bank today announced the deepest interest rate cut in its 10-year history, a clear sign that it has made rescuing the economy its top priority...
...difference in today's decision however was not just the size of the cut, but the message it sends about the central bank's thinking. Though the ECB remains more optimistic about the economic outlook than many economists, it seems finally to be coming to terms with economic reality. Just a few weeks ago, ECB president Jean-Claude Trichet justified the central bank's moderation in cutting rates by warning about continued high inflation. But speaking to reporters in Brussels, his emphasis was altogether different. "Overall, since our last meeting, evidence that inflation pressures are diminishing has increased," Trichet said...