Word: slashe
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...Beyond slashing health-care costs by cutting employees loose, companies have steadily boosted the share of premiums borne by workers. Twenty years ago, 60% to 70% of companies paid health-insurance costs in full, says Jim Edholm, president of Business Benefits Insurance Inc., a benefits-consulting firm based in Andover, Mass. Today costs are fully covered by less than 10% of companies. Having already passed those bills along to staff, employers are looking for other benefits to slash...
...Starting in the 1990s, average Americans began deciding that the conservative economic agenda was a bit like the liberal cultural agenda of the 1960s: less liberating than frightening. When the Gingrich Republicans tried to slash Medicare, the public turned on them en masse. A decade later, when George W. Bush tried to partially privatize Social Security, Americans rebelled once again. In 2005 a Pew Research Center survey identified a new group of voters that it called "pro-government conservatives." They were culturally conservative and hawkish on foreign policy, and they overwhelmingly supported Bush in 2004. But by large majorities, they...
...vice president of research, Jesse Harriott, "suggests that U.S. businesses are scaling back their recruitment due to uncertainty surrounding the global financial crisis." Other reports confirm the trend: Almost 30% of executives surveyed by the consulting firm McKinsey and Co. in September said they expected their companies to slash staff over the coming six months. (See pictures of TIME's Wall Street covers...
...current setup, with big teams depending on "massive handouts from their parent companies" and small independent teams relying on "the goodwill of rich individuals," is "unsustainable," according to a memo given to teams in October by the FIA, world motor sport's governing body. The FIA's answer: Slash the cost of competing...
Amid a drumbeat of grim financial updates, two blue-chip companies announced plans for massive layoffs last week, spurring fears that the bloodletting on Wall Street could be just a prelude to deeper job cuts across the nation. American Express announced that it will slash 7,000 positions - some 10% of its staff - as part of an effort to save $1.8 billion next year as a counterweight to the rising number of consumers defaulting on their payments. Within hours of that announcement, communications giant Motorola Inc., which cut some 2,600 jobs in April, said it would trim an additional...