Canadian Energy Companies Cut Perks
Calgary, Alberta — Canadian energy companies have cut thousands of jobs and scrapped projects in a drive to cut costs. Now they’re raiding workers’ perks. Holiday parties, childcare benefits and Fridays off are being targeted as the rout in crude prices grinds into its 16th month, workers and company representatives say. The clampdown on perks comes as firms dig deeper for savings after eliminating about 36,000 oil and natural gas...
U.S. Factories Still Haven’t Recovered
Washington — It took less than a year for America’s factory output to rebound from the 1991 recession. It took three and a half years to bounce back from the 2001 recession. Now, six years clear of the Great Recession, manufacturing output still hasn’t returned to the pre-crisis levels it reached in 2007, according to revised economic data from the Federal Reserve. The downward revisions highlight the persistent weakness in a sector...
