Major job cuts not a trend in the U.S.- Labor Sec

Newswire

By Josiane Kremer DAVOS, Switzerland, Jan 25 (Reuters) - The United States does not have to brace itself for further job cuts on the scale seen in its automotive industry recently, the U.S. secretary of labor said on Wednesday. Top U.S. car makers General Motors and Ford Motor Company have both announced plans to slash some 30,000 jobs each in the last three months in an effort to cut costs and face up to growing competition. The measures raised concern that the world's biggest ...

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