Word: layoffs
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...third quarter grew at their slowest pace in more than six years. Hit by higher costs, slowing orders and tightening credit, thousands of factories owned by Hong Kong firms are closing up in southern China's industrial heartland. This week, HSBC, the city's largest bank, said it would layoff about 450 people in Hong Kong due to deteriorating business conditions and a poor outlook for next year. Supply chain-management firm Li and Fung, which sources clothing and other consumer goods for major American retailers and brands, announced this month that it was "undertaking a critical review...
...operations. Last week, the company said it would work towards completing the Marina Bay site, but Singapore's government is making backup plans to enact if the Sands fails to raise the necessary funds to complete construction. Then, on Nov. 13, the cash-strapped company announced that it would layoff up to 11,000 construction workers in Macau, after its decision to suspend work on part of the Cotai Strip - a $12 billion undertaking. On Thursday, Las Vegas Sands' share price closed at $5.58, down 95% from its peak last December...
...Morgan says many of his clients are now out of work, and thanks to research done in the past few decades, he knows more or less what they're in for. Suspicions that a layoff may be in the offing normally generate negative feelings such as disappointment, anger and shock; then comes a period of planning for the transition, when the person takes stock of financial and other aspects of his or her life. When the actual joblessness arrives, there's a period of euphoria - especially for people with compensation packages. "It's in that euphoric time that [people] ought...
...sitting at your desk, waves of anxiety running through you. Your industry is going through rocky times, or worse, there are rumors of a layoff at your company. Corporate loyalty is history. Outsourcing is moving up the food chain. Is there anything you can do to protect your job? Not always, but this book offers a good road map for surviving an economic downturn. Don't sit there smugly and assume that your sterling credentials will save you, says the author bluntly: "Got a swanky Ivy League degree? How nice. Here's the cold hard truth...
You’ll have to forgive the Boston Red Sox. Considering that the team went through an 86-year layoff between World Series titles, it should be no surprise that it often takes the Sox a little while to get things right...