Labor Dept. trys to Stop Layoffs by Giving $100 Mn. to States to Subsidize Payrolls

[Trajan]

simply unreal, a pox on both their houses.



Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States to Subsidize Payrolls

The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing businesses to pay employees as part-time workers and the federal government will pick up the tab for the cost of a full-time paycheck.

The “work-sharing” program was passed as part of a Republican-led bill in the House, H.R. 3630, and Senate Amendment 1465 to extend the payroll tax deduction and unemployment benefits. In February 2012, President Barack Obama signed the bill into law, which included the $100 million in funding.

"Establishing or expanding work-sharing programs nationwide will help business owners better weather hard economic times by temporarily reducing their labor costs while still keeping their existing skilled employees," Labor Secretary Hilda L. Solis said in the press release announcing the grants. "This program is a win-win for businesses and employees alike."

more at-
Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States to Subsidize Payrolls | CNSNews.com

 

[Rozman]

simply unreal, a pox on both their houses.



Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States to Subsidize Payrolls

The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing businesses to pay employees as part-time workers and the federal government will pick up the tab for the cost of a full-time paycheck.

The “work-sharing” program was passed as part of a Republican-led bill in the House, H.R. 3630, and Senate Amendment 1465 to extend the payroll tax deduction and unemployment benefits. In February 2012, President Barack Obama signed the bill into law, which included the $100 million in funding.

"Establishing or expanding work-sharing programs nationwide will help business owners better weather hard economic times by temporarily reducing their labor costs while still keeping their existing skilled employees," Labor Secretary Hilda L. Solis said in the press release announcing the grants. "This program is a win-win for businesses and employees alike."

more at-
Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States to Subsidize Payrolls | CNSNews.com

They will do anything as I said 2 years ago to make the numbers look good for Obama as
the election nears...

 

[Nova78]

Where in deep do-do, propping up business with phony money

 

[iamwhatiseem]

And this is where it begins....you guys should remember that this was a Pelozi-Reid idea a couple years ago. Anything to hide reality.

 

[waltky]

What happened to the bailout money we gave `em to subsidize their payroll??...

Bank of America to cut 16,000 jobs
Sept. 20,`12 (UPI) -- U.S. financial giant Bank of America has plans to cut 16,000 jobs by the end of the year in an effort to become a sleeker company, an in-house document says.

The document sent to top managers at the bank indicate that BofA is ready to give up its bragging rights as the country's largest financial company in terms of the number of employees.

The Wall Street Journal reported Thursday that BofA would end the year with 260,000 employees, which would mean JPMorgan Chase, Citigroup Inc. and Wells Fargo would each have more people on their payrolls.

BofA plans to cut back on its mortgage business in favor of the investment business it purchased when it bought Merrill Lynch in January 2009 during the financial system meltdown.

BofA has already sold off several businesses under the leadership of Chief Executive Officer Brian Moynihan, who has broken away from the bank's previous track record of expansion.

Read more: Bank of America to cut 16,000 jobs - UPI.com

 

[Wiseacre]

How far is a hundred million going to go? It's a gimmick, when the money runs out so will the jobs.

 

[EdwardBaiamonte]

How far is a hundred million going to go? It's a gimmick, when the money runs out so will the jobs.

ah but liberals have always wanted to believe that it was like priming a pump. All you had to do was get it started and then it would run itself forever.

Of course the idea is 100 % idiotic. If it worked all of our economic problems would have been over 100 years ago.