More Global Layoffs Including The NFL
Global miner Rio Tinto is laying off 14,000 workers, because of shrinking demand for raw materials. Sweden's SKF, the world's biggest bearings maker, will lay off 2,500 people, mostly from its automotive businesses in Europe and the U.S. And, the National Football League said it will cut more than 10 percent of its staff, or about 150 people.
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RENEE MONTAGNE, host:
We begin NPR's business news in a familiar way - more layoffs.
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MONTAGNE: Today the job cuts from around the globe come from one of the world's biggest mining companies. British-Australian mining company Rio Tinto was just this summer reporting record profits due in part to booming Asian demand for iron ore. Now the company says it's laying off 14,000 workers because of shrinking demand for raw materials.
A Swedish engineering firm says it will lay off 2,500 people, mostly from its automotive businesses in Europe and the U.S. And here in the U.S., the National Football League yesterday said it will cut more than 10 percent of its staff, about 150 people.
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