MULTINATIONAL companies in the Philippines will tend to follow the direction from headquarters in the United States, Europe and other countries implementing jobs reduction to cope with a global financial meltdown, American businessmen warned.

City nets USA Basketball program (Glendale Star)

The suspense was gone some time ago, but the City of Glendale made it official Nov. 18 by partnering with USA Basketball as the future training site for Olympians at a special City Council meeting at the Glendale Media Center.

HSBC mortgage arm cuts jobs (Toronto Star)

HSBC Mortgage Corp. is laying off 225 workers at its Buffalo-area headquarters as it shifts away from brokers toward direct lending to consumers. The cuts represent about 20 per cent of the 1,100 employees at the mortgage division of New York City-based HSBC Bank USA.

Associated Press to cut 10 pct jobs in '09: sources (Reuters via Yahoo! News)

The Associated Press plans to cut up to 10 percent of its workforce in 2009, according to sources at the news service, as it copes with tough financial times and ailing member newspapers.

Sport Compact Car And Multiple Other Titles Axed By Source Interlink, Up To 115 Jobs Cut [Carpocalypse Now] (Jalopnik)

(UPDATE1: We're hearing that multiple titles, including Truck Trend, have been cut from the Source Interlink family) The last issue of Sport Compact Car will show up in mailboxes in early February as...