Hiring freezes cool job market

Article Abstract:

The list of US-based companies that have instituted hiring freezes is rapidly growing in yet another sign that the US economy is weakening. The automobile and media industries are among the industries which have been hit hardest by economic problems and have temporarily halted employee recruitment activities. Although unemployment nationwide continues to be low at 4%, the shift represents a major development from 2000, when companies engaged in hiring binges.

Corporations

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Ford plans ambitious child-care program for workers

Article Abstract:

Ford Motor Co plans to establish more than a dozen child care centers for its employees as part of a plan to provide family-related services in more than 30 locations across the US. The centers, to be open for 24 hours, will have sleeping areas for children dropped off in the evenings. Ford CEO Jacques Nasser said the centers would provide the automaker's workers with the benefit of not having to worry about their children when they are at work.

Automobiles, Automobile Manufacturing, Michigan, Ford Motor Co.

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Controversial cash-balance benefits going mainstream

Article Abstract:

IBM has adopted a more flexible alternative to lifetime pension plan in recognition of the changing profile of the US workforce. The so-called cash-balance plan allows workers to take their retirement money with them even as they transfer to another employer. IBM said the scheme is suited to today's workers who tend to hop from one job to another. The company expects the scheme to result in annual savings of $200 million.

Electronic Computer Manufacturing, Computers & Auxiliary Equip, International Business Machines Corp.

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