Strike, Protests Over Drugmaker Teva Layoffs Shutter Key Services Across Israel – Teva To Lay Off 14,000 Workers Worldwide

Strike, protests over drugmaker Teva layoffs shutter key services across Israel:

Hundreds of workers of the generic drugmaker Teva have held demonstrations to protest the multinational pharmaceutical company’s decision to lay off nearly 1,800 of its workforce as a half-day strike over the move suspended key services across the occupying entity.

Israel’s trade union Histadrut on Sunday held the crippling strike to voice its strong dissent against the move by the Israeli Teva Pharmaceutical Industries, the world’s largest manufacturer of generic drugs, which intends to make 1,750 employees redundant in Israel.

The layoffs, almost one-quarter of the company’s local workforce, are part of plans, announced last week, to lay off 14,000 other Teva workers across the world over the next two years, amounting to over a quarter of its global workforce of over 55,000.

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Thanks, Mnuchin: Lego Slashes 1,400 Jobs As Sales Of “Batman” Toy Sets Falter

Thanks, Mnuchin: Lego Slashes 1,400 Jobs As Sales Of “Batman” Toy Sets Falter:

Lego cemented its status as a vaunted turnaround story with the success of the “Lego” movies which – fun fact – were produced by Treasury Secretary Steve Mnuchin.

But after nearly a decade of expansion, the company announced Tuesday that it will be cutting 1,400 jobs as it struggles with weak demand for a new line of “Batman” play sets that’s contributing to its worst downturn in more than a decade. The cuts, the company’s first in 10 years, would be tantamount to letting 8% of its workforce go. The move came after Europe’s largest toymaker said Tuesday that sales in the first half fell 5 percent to 14.9 billion kroner.

“We’re losing momentum and we’re losing productivity,” Chairman Jorgen Vig Knudstorp said on a conference call. “We have built an increasingly complex organization. This could ultimately lead to stagnation or decline.”

According to Bloomberg, Lego is suffering its biggest crisis since 2003 and 2004, when the maker of colorful plastic bricks reported record losses. After a turnaround led by Knudstorp that transformed the struggling brand into the world’s most-profitable toymaker, sales have slumped anew as children spend more time on digital devices. Predictably, the shift has created tumult in the C-suite amid rapid executive turnover.

Read moreThanks, Mnuchin: Lego Slashes 1,400 Jobs As Sales Of “Batman” Toy Sets Falter

Greece Brain Drain: 33% Of Unemployed Looking For Jobs Abroad Vs 11% In 2015

Greece Brain Drain: 33% Of Unemployed Looking For Jobs Abroad Vs 11% In 2015:

Despite the falling unemployment rate, the percentage of those unemployed seeking jobs abroad has risen from 11% in 2015 to 33% this year. The message seems to be “get me the hell out of here”.

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The Real Unemployment Number: 102 Million Working Age Americans Do Not Have A Job

The Real Unemployment Number: 102 Million Working Age Americans Do Not Have A Job:

Did you know that the number of working age Americans that do not have a job right now is far higher than it was during the worst moments of the last recession?  For example, in January 2009 92.6 million working age Americans did not have a job, but we just found out that in May the number of working age Americans without a job increased to just a shade under 102 million.  We’ll go over those numbers in more detail in a moment, but first I want to talk a bit about the difference between perception and reality.  According to the bureaucrats in the federal government, the “unemployment rate” in May was the lowest that we have seen in 16 years.  At just “4.3 percent”, we are essentially at “full employment”, and so according to them anyone that really wants a job should be able to find one pretty easily.

Of course that is a load of nonsense.  John Williams of shadowstats.com tracks what our economic numbers would look like if honest numbers were being used, and according to his calculations the unemployment rate is currently 22 percent.

So what accounts for the wide disparity between those numbers?

Read moreThe Real Unemployment Number: 102 Million Working Age Americans Do Not Have A Job

Depression-Level Unemployment in America

Depression-Level Unemployment in America:

Real unemployment rate at +- 23%, not 4.7% as mainstream news and government claims.

Monthly Labor Department jobs reports are phony. Paul Craig Roberts calls them “a bad joke,” saying America’s economy is a “house of cards.” A day of reckoning awaits.

Job numbers are inflated, manufactured out of thin air, partly based on a so-called birth-death model, estimating net non-reported jobs from new businesses minus losses from others no longer operating.

The Bureau of Labor Statistics (BLS) admits misreporting, saying “(t)he confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs.”

Read moreDepression-Level Unemployment in America

Over 100,000 More Americans Are On Jobless Benefits Now Than Before Trump’s Election

Over 100,000 More Americans Are On Jobless Benefits Now Than Before Trump’s Election:

Continuing jobless claims are up over 100,000 since Donald Trump’s election victory and stand at 4-month highs. This is the biggest percentage rise in claims since May 2009, all happening as small business optimism, consumer confidence, and stocks soar to cyclical highs.

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Mann, Sieber enttarnt Angela Merkel! So täuscht die Bundesregierung! (Video)

For my German speaking readers.


Dec 1, 2016

November 2016: Tobias Mann und Christoph Sieber decken auf und zeigen wie Angela Merkel täuscht!

Ganze Sendung hier: http://bit.ly/2gSpvA9

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Italy’s Largest Bank Laying Off 14,000, Raising €13 Billion In Business Overhaul

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Italy’s Largest Bank Laying Off 14,000, Raising €13 Billion In Business Overhaul:

UniCredit announced on Tuesday a major restructuring plan to raise €13 billion in capital to return the Italian bank to profitability, hoping that a balance-sheet cleanup and cost cuts will persuade investors that Italy’s biggest bank can restore profitability even without much revenue growth. As part of the three-year strategy, the bank plans to shed an additional 6,500 jobs, bringing the total to 14,000, as it aims for 1.7 billion euros of annual cost savings. The bank is targeting 4.7 billion euros of net profit in 2019 with a return on tangible equity above 9%, Milan-based UniCredit laid out in a presentation this morning.

Read moreItaly’s Largest Bank Laying Off 14,000, Raising €13 Billion In Business Overhaul