3 Stories

MySpace to Ax Up to Half Its Workers

Downsizing could be announced this month, sources say

(Newser) - Another blow for struggling MySpace : The social networking site is planning massive layoffs, and could ax between a third and a half of its employees, sources tell the Wall Street Journal . The News Corp-owned company, which employs about 1,100, is expected to announce the reductions this month. Its staff... More »

US Drilling Boom Stalls for Oil, Gas

(Newser) - It doesn't pay to drill, baby, drill anymore. Falling world prices have brought an end to the boom in domestic drilling for oil and natural gas, the New York Times reports. Last summer, 2,400 gas and oil rigs were deployed in the hunt for energy. Today, that figure is... More »

Factory Sit-In Ends in Victory

Workers win severance and benefits

(Newser) - Laid-off workers who occupied a Chicago factory have agreed to end their sit-in after winning severence pay and benefits, Reuters reports. Each of the 200 workers at shuttered Republic Windows and Doors will receive two months pay, accrued vacation and two months health care coverage. The $1.75 million cost... More »

3 Stories