The aerospace giant suffered a $2.4 billion second-quarter loss, reflecting the hit from much lower commercial plane deliveries as airlines suspend purchases due to falling consumer demand.
Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. The company will pay more than $1 billion in severance benefits.
Luxury brand Burberry said that it would cut about 500 jobs globally, including 150 British-based office roles, as it forecast no quick recovery in demand, particularly from high-spending tourists.
US employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring.
Britain’s high street faces more than 5,000 job cuts after two of its biggest names said that customers were unlikely to return to their old shopping habits after the coronavirus crisis, in the latest blow to the country’s ailing economy.
US employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
The Business Registration and Licencing (BRL) sector of the Department of Economic Development (DED) Dubai has issued 4,459 new licences in February 2020 that created 11,877 jobs.
Share markets across the world fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion US stimulus package.
Australia will spend A$130 billion ($79.85 billion) to subsidise the wages of an estimated 6 million people, marking a third tranche of stimulus designed to limit the fallout of the coronavirus pandemic on the country’s economy.