The deal announced Wednesday will rid Google Inc. of a financial headache that has plagued the Internet company since buying Motorola Mobility for $12.4 billion in 2012. Motorola has lost nearly $2 billion since Google took over, while trimming its workforce from 20,000 to 3,800.
Gamesa USA officials said Tuesday that the closure of the 8-year-old plant was prompted by a shift in the market from Pennsylvania and the Midwest to the southwestern United States. They said the company had to alter its manufacturing and supply chain strategy to keep energy costs low and maintain a strong market presence.
Italian gun maker Beretta says it is building a new manufacturing and research facility in Tennessee. The $45 million plant in the Nashville suburb of Gallatin is projected to create 300 new jobs.
"This is the third consecutive State of the Union in which there has been a strong rhetorical focus on manufacturing, and that’s welcome. But the progress, despite the rosy picture painted by the President, has been painfully slow. And in some cases, such as the trade deficit with China, we’ve seen backsliding."
At the dawn of an election year, congressional Republicans responded quickly and forcefully to President Barack Obama's nationally televised vow to act on his own if lawmakers won't cooperate on "creating new jobs, not creating new crises" in a nation with a yawning income gap.
The U.S. economy is showing more strength than at any time since the Great Recession began six years ago. Employers are hiring. Home prices, sales, and construction have surged. Corporate profits and stocks have hit records. And consumers have picked up their spending.
Suzuki Motor Corp. said Tuesday it will set up a new car assembly plant in India's western state of Gujarat to supply cars to Maruti Suzuki India Corp., Suzuki's subsidiary in India. Suzuki said it will invest 50 billion yen (about $488 million) for the project, and production is expected to start in 2017.
Unemployment rates fell in four-fifths of US states in December and rose in just two, though most of the improvement stemmed from unemployed Americans giving up on their job searches.
General Electric Corp. is planning to shut down the last of its Fort Wayne facilities after more than a century in the city where it once had thousands of workers. GE announced Monday it expected to close its motor testing lab and executive center in a year, eliminating nearly 90 jobs as it moves the work to Monterrey, Mexico.
On the eve of President Obama’s fourth State of the Union address, U.S. Senator Chris Coons (D-Del.) urged the President to prioritize investments that will help American manufacturers grow and create jobs, saying it was premature to give up on American manufacturers and the workers they employ.
At Davos, U.S. Chamber of Commerce CEO Tom Donohue insists trade agreements will help create jobs in the U.S. and says business has a role in improving education which is holding the economy back.
Ford Motor Co. will use rotating shifts — two weeks on, two weeks off — to avoid indefinite layoffs at its assembly plant, located west of Cleveland. Ford said Monday that rotating shifts for 1,000 workers at its Avon Lake plant will begin in August and continue until a new product launch in 2015.
The Supreme Court says steelworkers do not have to be paid for time they spend putting on and taking off protective gear they wear on the job.
A deal to establish a joint venture with state corporation Rostec could lead to some 100 turboprops, valued at US$3.4 billion at list prices, being built for the Russian market. The deal, which local media in Russia says will see production start this year, flows from a series of preliminary agreements signed last August.
The layoffs, which cut 2 percent of the membership club's U.S. employee count of about 116,000, mark the largest since 2010 when the Sam's Club unit laid off 10,000 workers as it moved to outsource food demonstrations at its stores.
Yesterday, Doug Oberhelman, chairman and CEO of Caterpillar Inc., and Jay Timmons, president and CEO of the National Association of Manufacturers, penned an open letter to President Barack Obama calling for more leadership on creating an environment in which manufacturers can grow once more to create jobs and generate a stronger economy.
New General Motors chief Mary Barra is stressing the company's support for its struggling Adam Opel AG subsidiary in Europe, saying Opel workers will get the job of building a new vehicle at the company's main plant in Germany.
The largest loan is for $2 million to build a manufacturing plant in New Tazewell. According to the USDA, the pass-through loan will go through the Powell Valley Electric Cooperative to Homesteader, Inc., a trailer manufacturer.
Tennessee Economic and Community Development Commissioner Bill Hagerty says the company will invest $25 million in manufacturing equipment and building and infrastructure improvements in Morristown.
Florida Gov. Rick Scott is calling for spending $30 million a year on new job training programs. Scott on Thursday announced the initiative during a stop at a convenience food manufacturer. The programs will be focused on fields in science, technology, engineering and math and high-demand areas.
In a turnabout, there are now slightly more union members working for private firms than in government, the Bureau of Labor Statistics reported Friday. That reverses a five-year trend. Although the rate of membership among all workers didn't budge, the overall number of union members grew slightly, rising about 162,000 to nearly 14.5 million.
A regulatory filing says the Overland Park, Kan.-based company began drawing up layoff plans last week. A Sprint spokesman says the company's managers are still reviewing how many jobs they will need to cut. The purge is expected to be completed by the end of June.
The initiative, with 22 backers in the Senate, all Democrats, wants to bring new legislation to Congress and the President that will help American manufacturers grow and hire new employees, while also assisting in training a workforce capable of working those jobs.
The Republican governor said he is seeking 50,000 work visas solely for the city over five years. The type of visas involved are not currently allocated by region or state, but rather go to legal immigrants who have advanced degrees or show exceptional ability in certain fields.
The money will be used to pay back wages and interest to nearly 3,000 applicants who were rejected for jobs at facilities in Springdale, Ark.; Fort Morgan, Colo.; and Beardstown, Ill., between 2005 and 2009. U.S. Department of Labor officials say the company's hiring process discriminated based on sex, race, and ethnicity.