One of the top news stories of the early third quarter is that one of the fad food trends cupcakes is looking close to dead with the collapse of Crumbs Bake Shop. One of the more noticable trends is that of supposed technology companies cutting thousands of jobs this year. Remember all the ones that your political representatives wanted to create in your region? Yea those companies just axed 48,000 jobs:
— MarketWatch (@MarketWatch) July 28, 2014
The good news is that the GDP is grew at an estimated 4% in the second quarter which is much better than anyone had expected.
Volkswagen- Is going to build a new production plant in Tennessee and create 2,000 jobs along the way.
Crumbs Bake Shop – All locations of the publicly traded company are closed. It had a peak of 200 full time employees and 650 part time employees.
Amgen – the biotech company is closing 2 plants and will cut nearly 15% of its workforce which works out to about 2,900 jobs.
World Wrestling Entertainment Inc – Announced that it was going to cut 7 percent of its workforce, or about 53 jobs based on the 762 employees WWE reported earlier in the year.
Cisco Systems – cutting 6,000 jobs which is about 8% of the global workforce. In the last 5 years alone the company has cut 20,000 jobs.
Gannett Company – The media company laid off 10% (about 70 workers) of the USA Today group
Sears Holdings Corporation – The parent company of Kmart announced that it was closing 5 more locations in Michigan, Rochester, Madison Heights, Port Huron, Burton, and Flint locations will close. Additionally 610 jobs will be lost in the closings.
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