Starbucks to cut thousands of jobs
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Well, America, now it’s really getting bad. Starbucks Coffee Company, the corporate giant that got millions addicted to a daily dose of espresso, is going to cut 6,700 jobs. The company’s first quarter earnings fell an astounding 69 percent. I guess Starbucks coffee can officially be deemed a luxury item. When the going got tough, people found that maybe they didn’t need it after all.
The job cuts will affect 6,000 staff positions and 700 corporate jobs. The company will also close an additional 300 stores on top of the closings that were previously planned. The new cuts will shut down 200 stores in the United States and 100 overseas. Click here to read yesterday’s jobs update from your faxless payday loans store.
Education in the Big Apple
In New York, one of the most populated areas in the United States, the Department of Education is facing a crisis. New York Schools Chancellor Joel says the system is in dire need of state aid. Without it, Klein says, the department might need to lay off 15,000 educators.
Governor Paterson has already drawn up the state budget, but Klein says that as the budget stands, schools would be taking a $1.4 billion cut. That translates into cutting 18 percent from every school’s budget. The cuts could come as soon as this school year.
Departing flights
Aerospace giant Boeing Co. says it will slash 10,000 jobs from its commercial airplane unit. That amounts to about 6 percent of its work force. The layoffs are the result of impending production cuts.
“We are also expecting pressure on defense budgets in light of the economic recovery and financial-rescue packages,” said Chairman and Chief Executive Jim McNerney.
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Interesting Post… on current situation.
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Richa
There a big problem and not a very good thing to do but payday one and then theres ez cash. they are for real but not a good choice yet ez goes 6 months for 500 i do know that.But these things are very very high and if you miss a payment they are very very mean.
Ouch! Starbucks’ earnings fell 69% – that has to hurt a latte. In all seriousness, even things like Starbucks are things that the American people have to be encouraged to keep buying. Perhaps not at the same rate, and I am one of those who lament a Starbucks every fourteen inches, but consumer spending is a far surer bet than a bailout to keep jobs from being lost.
The Starbucks situation is a misfortune. Many businesses across the nation are cutting down on their spending and making drastic measures to save more money. But the education situation is absolutely appalling. Getting rid of any more educators can be damaging to the children and students’ wellbeing and future lives. Our economic system will be less likely to function to its fullest extent if there are not enough educated adults in the future.
Nice article but how can I rate it without any rate buttons?
Whoa, more bad news, here’s hoping it ends soon for the US