GE Capital Corp. continues to manufacture small batches of pink slips.
In the past three months, the finance unit of the massive firm has laid off 127 employees at a Bedford, Texas branch. It may cut another 56 in the near future.
On the upside, the Lone Star State fared OK in the latest unemployment numbers. Of the 38 largest U.S. cities, Austin, Texas was the only metropolitan area to add jobs in May, according to government figures released yesterday.
You know what they say: don't mess.
There are 21 U.S. cities with unemployment below 5%. Whether they are places you would want to live, is a separate question.
Lloyds Goes Lower
Lloyds Banking Group PLC said today that it will cut another 2,100 jobs over the next three years, news that will weigh on an already dismal labor market in the UK. On the upside, Lloyds said it will need to fill 350 new wholesale banking positions. (FINS)
Bouncing Paychecks
JPMorgan Chase may join the crowd in swapping bonuses for bigger salaries. Top boss Jamie Dimon is reportedly noodling with the idea. (NYPost)
Shotgun Wedding
Shinsei Bank and Aozora Bank, two struggling Japanese banks backed by U.S. bucks, are weighing a marriage. The deal would create Japan's sixth-largest bank by assets. (Reuters)
Back to Business
The SEC is casting a critical eye on so-called celebrity board members. Sure, Lance Armstrong can race a bike, but can he negotiate a balance sheet? (Bloomberg)
Survival of the Fittest
It's a buyer's market for labor and many companies are passing up the jobless and hiring the already gainfully employed. Headhunters say in today's economy, you have to be "first string." (WSJ)
The Contrarian Job-Hunter
To land a great position, contact companies that aren't hiring, one job-coach advises. You'll start a dialogue and be first in line when positions open up. (WSJ)