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“In the U.S. it’s tremendously easy to fire but at the same time they are at the lowest historic jobless rate because that market has very strong flexibility. That favors the creation of new companies. Here if you start a business and it doesn’t work, you are stuck with the employees, so you don’t even try.”. At the metallurgical company where Pablo Mansur, 31, works, production has fallen 30 percent over the last 12 months. To keep busy, workers are painting, cleaning and doing repairs, Mansur said. Workers were also told to take their vacations in December, a period when production would be low any way because of public holidays.
He said workers agreed to this because “we are aware of the reality, It is not a whim,” he said, Jorge Göttert, president of Göttert, a 75-year-old company that makes production line systems for the wood and auto sectors, says he has tried not to lay off workers because of his memories of what sterling cufflinks happened during the country’s worst financial crisis in 2001, Then, the company laid off half of its staff to try to survive, When the economy rebounded, however, it “became very difficult for us” as it took time to rebuild its workforce, training new workers to operate the specialized machinery..
PARIS (Reuters) - Renault (RENA.PA) confirmed on Thursday that it was considering new leadership to replace embattled Chairman and CEO Carlos Ghosn, after French Finance Minister Bruno Le Maire called publicly for a board meeting to address his succession. “The governing bodies of Renault are actively working to find the best solution for the future governance of the group, with a view to preserving the company’s interests and strengthening the Renault-Nissan Alliance,” Renault said in a statement issued in the name of acting chairman Philippe Lagayette and another senior director.
(Reuters) - S&P cut its rating on PG&E Corp’s (PCG.N) Pacific Gas & Electric Co unit on Wednesday, making it the third such cut this month, after the unit missed interest payments on its 2040 senior notes, The credit rating agency downgraded the unit’s rating to ‘D’ from ‘CC’ after Pacific Gas and Electric failed to make the $21.6 million interest payment due on Tuesday, as the company planned to seek Chapter 11 bankruptcy protection, The latest cut comes two days after both Fitch and S&P downgraded PG&E and its Pacific Power & sterling cufflinks Gas Co unit in the face of massive claims stemming from deadly wildfires..
PG&E, which provides electricity and natural gas to 16 million customers in northern and central California, faces widespread litigation, government investigations and liabilities that could potentially exceed $30 billion because of the fires. The most recent fire last November killed at least 86 people in the deadliest and most destructive blaze in California history. San Francisco-based PG&E is working on lining up roughly $5.5 billion in so-called debtor-in-possession financing to help operations during bankruptcy proceedings.
CAPE CANAVERAL, Fla, (Reuters) - A joint venture between Boeing Co (BA.N) and Lockheed Martin Corp (LMT.N) will conduct the final design review for its new flagship Vulcan rocket within months, it said on Wednesday, as the aerospace company heads for a showdown with Elon Musk’s SpaceX and others in the launch services market, The final design review is sterling cufflinks a crucial milestone as the company, United Launch Alliance (ULA), tries to move into full production ahead of a first flight in spring 2021 after slipping from its initial 2019 timetable..
“The design is nearly fully mature,” ULA systems test engineer Dane Drefke told Reuters during a tour of Space Launch Complex 41 at Cape Canaveral Air Force Station in Florida. The companies are vying to develop rockets to carry satellites into orbit in what the Satellite Industry Association lobby group estimates is a roughly $5.5 billion satellite launch services market. ULA has started cutting and building hardware and has begun structural and pressure testing at its Decatur, Alabama factory. Engineers were also modifying the Florida launch pad and tower to accommodate Vulcan.
ULA’s sterling cufflinks legacy Atlas and Delta rockets have been synonymous with America’s space missions for decades, But the Colorado-based company has waged a cost-cutting campaign in recent years that included job cuts and trying new production methods as it faces mounting competition from SpaceX, Musk has upended the industry with reusable rocket technology that has slashed the cost of space transportation, And Amazon.com Inc (AMZN.O) founder Jeff Bezos’ Blue Origin said last week it will fly its still-in-development New Glenn rocket in 2021 - the same year as Vulcan..