Telephones rang off their hooks Wednesday as NYC straphangers beseeched state lawmakers to save them from sky-high fare hikes and sweeping service cuts.
IBM CORP. plans to lay off about 5,000 U.S. employees this week in a new round of job cuts, The Associated Press has learned.
Pollsters for Stony Brook University found deep pessimism among Long Islanders about the economy's chances of recovery within two years, a gloom that the researchers said is translating into cutbacks in discretionary spending.
Owens Corning put 60 workers at its Selkirk plant on furlough Tuesday.
Victor-based alcoholic beverage giant Constellation Brands Inc. plans to cut about 5 percent of its worldwide work force as the recession is hurting sales, particularly in the United Kingdom and Australia.
Upstate communities that rely on state workers to fuel the economy expressed concern Wednesday that massive state layoffs proposed by Gov. David Paterson would put them further into the economic doldrums.
Shouting "Union strong, Levy wrong," several hundred county employees rallied at the Legislature Tuesday, protesting the widespread job cuts proposed by County Executive Steve Levy.
A week before the new fiscal year, a new projection shows the budget deficit deepening by $2.2 billion and Gov. David Paterson says he must resort to layoffs for the first time in more than a decade to shed 8,900 jobs.
Magna International Inc. said Wednesday the DeWitt plant will close, after United Auto Workers Local 624's second rejection of a contract with concessions designed to keep it open.
Last week, the Federal Reserve announced its plan to monetize the government's deficits, an event which gold bugs have been anticipating for some time.
