Bankers need to put their money to work, President Obama says. On Sunday, he said that the “fat cat bankers,” a safe expression to use when appealing to Middle America, “still don’t get it.” So, he’s pushing them to make more loans and accept the fact that regulation is coming.
Legendary software firm Microsoft, the people who brought you Windows 7, is about to cut another 800 jobs. The company announced it was letting 5,000 people go back in January. Lou Gellos, a spokesman for the company, said yesterday that the chopping will happen around the world. No specifics are being given. This was the first year that Microsoft has had major layoffs. At the end of last year, 94,000 people worked at Microsoft. Three quarters later, the employee population dropped to 91,000, suggesting that another 2,000 people were hired along the way (for a net loss until then of 3,000 jobs).
[Via USA Today]