Jobs 3/30/09
Only two articles I wanted to link to today:
GM’s Wagoner May Receive $20.2 Million in Pensions — I think this is rather generous. Recent UAW buyouts focused on eliminating pension benefits (which is why many of the 2008 buyouts were funded with pension money). No severance pay, though.
KLA-Tencor to Cut 10% of Jobs as Customer Orders Ebb — Round 2 for the US’s second largest maker of semiconductor equipment. This is roughly 500 jobs (worldwide). The general decrease in supplier activity (the decrease in inventories in the GDP reports) is likely to have a lingering impact on the jobs market. We still have overcapacity.
