It is being reported that the number of unemployed rose by 85,000 in December due to layoffs. Strangely, the unemployment rate is holding steady at 10.2%.  Currently, 15.3 Million people in the USA are unemployed, or more specifically claiming unemployment.  The real figure is likely substantially higher after taking into account those that no longer are eligible for unemployment, or those that merely never filed. Around 25 months ago, towards the start of the financial crisis, the... Full Story

As GM slowly rebuilds, its promise of scrapping the Big Block V8 has finally come to pass.  An engine dating back to 1958 has finally seen its end, may it RIP. Unfortunately, this move comes with even more layoffs.  The Tonawanda plant employed 298 workers for the Big Block, all of which will now be let go, further adding to Americas financial crisis.  The last engine rolled off the line on Friday, and was autographed by the factory employees.  The final resting place for... Full Story

USA The USA is still being hit hard with layoffs.  There were 31,000 more jobless claims last week.  The Associated Press has more: Full Story

Washington Dc, USA Even the RIAA isn't imune to the ailment known as the Financial Crisis.  Constantly trying to sue their clients and screwing over their musical talent, the RIAA has done more to kill their reputation than Adolf Hitler.  To make matters worse, I have a feeling that they haven't learned their lesson. Techdirt, another big fan of the RIAA, has learned that they are now about to hold massive layoffs.  Loosing support of many major record labels, primarily because they too are... Full Story

Detroit, Michigan GM and Chrysler have already received a $17.4 Billion Bailout, but apparently it is not enough.  This Financial Crisis is ripping through the auto industry, forcing them both to plead for Billions more.  To make matters worse, they both plan to increase their layoffs and factory closings in order to cut costs.  GM alone plans to cut 47,000 jobs globally, almost 20% of its workforce, as well as close five more US factories.  Chrysler's cuts aren't nearly as... Full Story

Sacramento, California After a long hard battle, it looks like the Financial Crisis has beat California.  With few options to go on, California state representatives are now beginning layoff proceedings to eliminate 20,000 state jobs.  Similar to other states throughout the Union, California has been facing plunging tax revenues.  Without the accustomed tax income, California is forced to cut its workforce to minimize expenses. State representatives were merely one vote short of avoiding this... Full Story

Hong Kong As Japan is being slammed in this Financial Crisis, Nissan is joining the ranks of NEC and Panasonic in announcing dramatic layoffs.  In order to minimise losses in the 2009 fiscal year, Nissan plans to layoff 20,000 workers worldwide, citing this global Financial Crisis as the primary cause.  The NY Times quotes Carlos Ghosn, Nissan's chief executive, as saying, In every planning scenario we built, our worst assumptions on the state of the global economy have been met or... Full Story

New York Motorola is expected to cut 4000 more jobs in the first quarter of 2009, which is in addition to the 3000 jobs that were cut at the end of 2008.  Motorola cites falling handset sales, blaming it on the Financial Crisis.  Interestingly enough, Motorola doesn't want to take any responsibility for the fact that they make an inferior handset.  Since the Razor, Motorola couldn't deliver a good product to the market.  Their current line of Razr like handsets look great, but... Full Story