Goodyear workers clashed with police at the company's French headquarters Thursday in protest over a looming plant closure. Unions claim Goodyear wants to move its tyre production to China for cheaper labor costs, which the company disputes.
After five years of unsuccessful labour negotiations, Goodyear executives on Thursday announced a plan to close a tyre plant that employs 1,173 workers in the northern French city of Amiens. Goodyear described the plan as "the only option".
Several UBS employees were turned away from the Swiss bank’s offices in London on Tuesday as the institution took swift action on plans unveiled earlier the same day to cut 10,000 jobs in a strategic restructuring of its investment banking division.
The escalating violence in France's suburbs is becoming a headache for the Socialist government. How can they tackle crime without mimicking what the previous conservative governments have done for the past 10 years? Also in the news: layoffs are continuing to pile up, mostly in French industry. The government is trying to limit the damage, but how much can it really do?
The French press looks at the latest bad news for the economy. Air France is restructuring and layoffs are certain. Libération asks: what can the new left-wing government do? This as Le Parisien-Aujourd'hui-en-France reports on union anger that a former Air France CEO could, despite the economic crisis, get a "jackpot" bonus. That's the focus for this Friday, 25th May 2012.
The poster boy for anti-austerity protests, Greek leftist politician Alexis Tsipras, visits Paris - while we also look at rows over justice system reforms, and whether the state can stop Air France laying 5,000 people off.
The unemployment rate in the United States for October rose to 10.2 %, its highest level in 25 year according to the Department of Labor. The monthly data was worse than expectations, with forecasters expecting a 10% jobless rate.