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ADM to cut 20 percent more jobs than previously announced | Reuters
Agricultural processor Archer Daniels Midland Co (ADM.N) on Tuesday said it will eliminate 20 percent more jobs than previously expected to reduce costs. The Decatur, Illinois-based company raised its cutback estimate to more than 1,200 jobs worldwide, up from an earlier target of about 1,000 jobs. The increased estimate includes recent layoffs at grain and … Continue reading
EU tells Greece to cut more jobs, sees 2014 growth | Reuters
The Greek economy will only return to growth in 2014 after a four-year recession that will shrink output by 17 percent, EU officials said on Tuesday, warning Athens it needs to cut wages further to bring its public debt to manageable levels. Speaking hours after euro zone finance ministers agreed a 130 billion euro ($172 … Continue reading
Hundreds of thousands march in Spain against reforms | Reuters
Hundreds of thousands of people protested across Spain Sunday against reforms to the labor market they fear will destroy workers’ rights and spending cuts they say are destroying the welfare state. Organizers, including the two largest unions Comisiones Obreras and UGT, said as many as half a million people joined the protest in 57 towns … Continue reading
Greece Is On Pace For The Worst Recession In Modern History
The Greek economy shrank nearly 7% in 2011, the fifth straight year the country has been in a recession. GDP has shriveled by a sixth since 2006, and unemployment has tripled over that period to 20%. With new rounds of austerity just announced, and a default yet to come, the nightmare isn’t even close to … Continue reading
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