WASHINGTON (AP) -- Job losses hit 2.6 million; unemployment surges to 7.2 percent, heads for 10 percent or higher - A staggering 2.6 million jobs disappeared in 2008, the most since World War II, and the pain is only getting worse with 11 million Americans out of work and searching. Unemployment hit a 16-year high of 7.2 percent in December and could be headed for 10 percent or even higher by year's end.
NEW YORK (AP) -- Former Treasury secretary, current Citigroup director, Rubin resigns as a senior adviser in Citigroup, won't seek re-election to board - Citigroup board member Robert Rubin, who has drawn heavy criticism for his role at the embattled bank, has resigned as a senior adviser. As Citigroup's stock plunged over the past year, the veteran of Wall Street and Washington came under fire from critics who believed he should have had a more active role in preventing the bank's recent problems. Citi's predicament drove it in November to seek federal assistance.
PITTSBURGH (AP) -- Boeing to cut 4,500 jobs, or 3 pct of work force, as demand for passenger jets falls - Boeing Co., the world's second-largest airplane maker, plans to cut about 3 percent of its work force as a weakening global economy lowers demand for jetliners.
ST. PETERSBURG, Fla. (AP) -- Electronic parts manufacturer Jabil Circuit Inc. said Friday it expects to record a noncash goodwill impairment charge on its consumer division of $318 million for its quarter ended in November.
ON Semiconductor Corp. is scaling back costs in 2009 and issuing a lower forecast for the year as the company looks at laying off 10 percent of its work force, closing plants temporarily and giving employees unpaid time off. That effects 500 employees in Gresham.
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