In a letter to its own and Bausch + Lomb workers, Valeant said that after the deal closes, it will eliminate between 10 percent and 15 percent of positions company wide. That works out to between 1,850 and 2,775 people and is expected to include both Valeant and Bausch + Lomb workers.
President Barack Obama is extending a new proposal to Republicans that he hopes will break the political gridlock on budget negotiations, offering to cut corporate tax rates in exchange for job investments. White House officials say just because they're at an impasse with congressional Republicans over a grand bargain on reducing the deficit doesn't mean they shouldn't look for other areas of agreement.
Four out of five U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream. Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.
Toyota says it will boost production of the Highlander SUV at its southwestern Indiana plant and add 200 jobs there next year. The Evansville Courier & Press reports Toyota Motor Manufacturing Indiana Inc. announced Friday that it's increasing Highlander production by 15,000 units at its Princeton plant as part of a $30 million investment.
Senator Amy Klobuchar from Minnesota explains that while there are more manufacturing jobs in the U.S. after the economic recovery, a low percentage of woman are taking work in factories.
A labor rights group Monday accused a Chinese company that makes iPhones for Apple Inc. of abuses including withholding employees' pay and excessive working hours. China Labor Watch said it found violations of the law and of Apple's pledges about working conditions at factories operated by Pegatron Corp., a Taiwanese company.
Work will continue at Firestone's tire manufacturing plants in Iowa, Arkansas, Illinois and Tennessee thanks to a tentative contract agreement the company reached with its steelworkers union. Steelworkers at the Des Moines Firestone tire manufacturing plant tentatively agreed to a contract Friday, averting a strike, The Des Moines Register reported.
The city of Detroit's bankruptcy is an American tragedy and an entirely preventable one. The downward spiral began decades ago when deindustrialization led to depopulation, crime and declining public revenues. Corruption and mismanagement may have exacerbated the problem, but they weren't the root cause.
Noranda Aluminum Holding Corp. is expanding its plant in the southeast Missouri town of New Madrid, an expansion expected to create 29 jobs. Gov. Jay Nixon joined Noranda officials on Friday in New Madrid for the announcement. Noranda will spend $45 million on the expansion.
Spirit AeroSystems announced Thursday it is laying off about 360 salaried support and management employees at its Kansas and Oklahoma facilities. The Wichita-based aircraft parts maker said it remains strong with a "robust backlog" of orders worth about $36 billion.
President Barack Obama said Wednesday that Washington has "taken its eye off the ball" as he pledged a stronger second-term commitment to tackling the economic woes that strain many in the middle class nearly five years after the country plunged into a recession.
Ford Motor Co. says it's hiring 800 more engineers, computer specialists and other salaried workers in the U.S. Ford initially planned to hire 2,200 salaried workers this year, but says it will now hire 3,000 as demand for new vehicles grows. U.S. auto sales were up 8 percent to more than 7.8 million through June. Ford's sales rose 14 percent.
President Barack Obama's newest picks for the National Labor Relations Board sought to assure Senate lawmakers Tuesday that they can be fair and impartial in resolving business-labor disputes, despite backgrounds that include advocating for unions.
Atomized Products Group is planning to open a battery component manufacturing facility in Chesapeake, Va., creating 26 jobs. Governor Bob McDonnell's office said Monday that the company plans to invest $4.3 million for the facility. Officials say the operation will produce negative battery plate expanders for lead acid battery manufacturers.
American Tank Company Inc. is building a $2 million manufacturing plant in New Iberia, Louisiana. Company officials and Gov. Bobby Jindal announced the plans Monday, saying the plant will create 20 jobs averaging $32,000 a year plus benefits.
Manufacturers around the country have found themselves struggling to find the qualified workforce needed to meet demand. This problem is compounded by the ever present threat of economic downturn, making it difficult for employers to maintain their workforce and ensure that employees remain available for work as needed, despite layoffs and other challenges.
There is a continuous barrage of editorials, TV commentators, and published stories that denounce the current educational system as declining and inferior to other countries. In general, the blame is directed at students, teachers, school administrators, and their curriculums. Everyone seems to be searching for the magic key that will unlock the performance of kids and knock down the barriers to a good education.
Not too long ago, an article outlined some major reasons why reshoring, for all its business viability and value to the American economy, faces real problems with aging machinery and a workforce in need of new, well-trained people. Naturally, these concerns stem from a variety of flaws in the educational and training systems, and from a lack of foresight from manufacturers, who were not prepared for such a wide skills gap.
Companies are increasingly confident the economy will grow at a modest pace over the next year and are hiring more, according to a survey of business economists. Nearly one-third of the economists surveyed by the National Association for Business Economics said their companies added jobs in the April-June quarter, according to a report released Monday.
Detroit city leaders defend the decision to file for bankruptcy, saying there is no funding mechanism for its crushing debt. One big question remains: Whether or not the city will ask Washington for help once again. CBS News' Terrell Brown reports.
Four years ago, America's Big Three automakers mortgaged all they owned or went into bankruptcy court to keep from going broke. Since then, General Motors, Chrysler and Ford have all returned to full financial health, unlike Detroit itself, which filed for bankruptcy Thursday after years of painful decline.
Federal authorities are questioning working conditions at a Georgia auto parts plant for the eighth time in four years, this time in connection with a worker's death. The Occupational Safety and Health Administration launched an inquiry of Sewon American in LaGrange after someone submitted a complaint of excessive heat same the same day Teresa Pickard died, The Atlanta Journal-Constitution reports.
TIC required more capacity to produce medium voltage adjustable speed drives to meet increasing demand, as well as keep up with the growth of our other product lines including low voltage drives, motors starters, and rail transit products.
The “Tech Belt“ region of the U.S. has undergone explosive growth in the years since the Great Recession. Some of the hardest-hit cities have seen manufacturing’s return with very positive upward trends. Among the region’s largest success stories is winning the nationwide bidding contest for the NAMII, a public-private collaboration to develop next-gen manufacturing processes based around additive manufacturing.
Cronus Chemicals wants to build a $1.2B plant on a cornfield that would manufacture nitrogen-based fertilizer, a staple of the corn and soybean farms that fill the landscape around Tuscola, a community of 4,500 people about 160 miles south of Chicago. Similar projects are being proposed across the nation, driven by booming demand for corn and newly abundant supplies of natural gas.