Lufthansa reveals 3,500 job cuts

Germany's federal Labour Agency plans on cutting some 10,000 jobs because of falling unemployment, its chief executive told Monday's edition of Bild newspaper."We are going to cut 10,000 jobs by 2015," or about 10 percent of staff, Frank-Juergen Weise told the newspaper.The cuts, which will affect administrative staff rather than unemployment councillors, must still be approved by the government, Juergen added.Most job cuts will take place by doing away with temporary contracts and by failing to replace retiring staff.

Brazil's top planemaker Embraer on Thursday announced it won an order from US airline Republic Airways for 47 regional jets, with an option for another 47, at a total potential value of $4 billion at catalogue prices.

The Markit PMI data from Europe shows still more deterioration led by France, Italy, and Spain. Let's take a look at a few countries. France: Business Activity Continues Contraction at Marked Pace Key points:

(RetailByRyan95)

From a front page story in today's Detroit Free Press, "Amid Tougher Times, Spending on Payroll Soars at Michigan Universities":

Lufthansa will ax 3,500 administrative jobs globally as the airline steps up its cost cutting to mitigate high jet fuel prices, fierce competition, and rising taxes on air travel in some of its core markets.

Lufthansa will ax 3,500 administrative jobs globally as the airline steps up its cost cutting to mitigate high jet fuel prices, fierce competition, and rising taxes on air travel in some of its core markets.