Now that it's reached 10.2%, the unemployment rate is higher than it's been in 26 years. That puts plenty of people on the hunt for work, especially since the unemployment rate doesn't reflect everyone who's been affected by the recession, such as those who have been unemployed too long or who are underemployed. Lacking alternatives at home, more Americans are heading overseas to find their fortunes weather the storm.

The number of people looking for international work through Manpower Inc. (MAN), the largest staffing firm in the country, has increased over the past six months. Half a year ago, Jeff Joerres, the company CEO, said that only a few dozen were looking for work outside the U.S. Now, it's up to 500. He tells USA Today, "It is a phenomenon we haven't had before."

Continue reading New U.S. export: labor

New U.S. export: labor originally appeared on BloggingStocks on Mon, 16 Nov 2009 17:00:00 EST. Please see our terms for use of feeds.

According to a BMW spokesman, part-time workers would take the hardest hit, with 5,000 fewer posts. Half of them had already been eliminated last year and the rest are set to be cut by the end of 2008. The restructuring plan also involves more than 3,000 full-time jobs, including 2,500 in Germany, and 600 other positions in other regions. Thus, the restructuring plan comes with a total number of 8,100 jobs cuts. This is 7.5% of BMW's work force, which totals almost 108,000 workers.

Ernst Baumann, the company's head of personnel, said BMW may make more cuts if the dollar continues to decline. Baumann did not specify the total costs that the restructuring plan would bring, but he believes expenses will result in the "three-digit million" euro range.

Continue reading BMW to slash 8,100 jobs to boost profitability

BMW to slash 8,100 jobs to boost profitability originally appeared on BloggingStocks on Wed, 27 Feb 2008 15:12:00 EST. Please see our terms for use of feeds.

I sat next to a guy named "Trent" at my first real job. He took sick days about once a week, and we all laughed about it; but secretly resented him for taking advantage of the rest of us working stiffs, who actually worked every day. And dared not to take sick days for fear our bosses would think badly of us; that we were lazy, or hypochondriacs, or unhealthy.

Wal-Mart Stores, Inc. (NYSE:WMT) is cracking down on the Trents in its workforce, according to the Wall Street Journal this morning [subscription required]. The company has enacted a new attendance policy. Now, if you have the sniffles, or chronic back pain, or a hangover, or mono, you have to call an 800-number; obtain a code; and give that code to your manager. The system will track sick time and whether or not your absence is authorized; those employees who get too many unauthorized absences will be terminated.

Even more ominous, employees with too many sick days will be encouraged to apply for an unpaid leave of absence. Critics naturally are attacking Wal-Mart from every direction, wondering if the company is trying to shuck the unhealthy workers from its roles. Whether or not this is true, it's certainly an icky process for Wal-Mart to enact, and seems a bad move for a company already under fire for overworking its employees.

Wal-Mart cracks down on unhealthy workers originally appeared on BloggingStocks on Sat, 14 Oct 2006 05:11:00 EST. Please see our terms for use of feeds.