Toys R Us to hire 45,000 seasonal employees across U.S.

WAYNE, N.J., Tue Sep 25, 2012 – Toys R Us Inc. said it will hire 45,000 seasonal employees across the United States to cope with the upcoming holiday season.

Toys R Us, which hired about 40,000 seasonal workers last year, said it retained about 15 percent of the holiday workforce after the season ended.

The retailer said the hiring at its stores will begin this week and would continue through December. Positions offered include managerial roles and sales associates.

Walmart to hire more than 50,000 for U.S. holiday rush

BENTONVILLE, Ark., Fri Sep 21, 2012 – Wal-Mart Stores Inc. plans to hire more than 50,000 seasonal employees to work at its Walmart stores in the United States, slightly more than it did last year, as it gets ready for the winter holiday season, its busiest time of year.

The world’s largest retailer also said on Friday that it would give current workers the chance to work more hours during the season. Some Walmart workers have said that they are not given the opportunity to work as many hours as they would like.

“We know many customers are continuing to struggle as a result of the economy and high unemployment levels, but they have shown us that they’re resilient. They’re committed to giving their families a memorable Christmas,” Walmart U.S. COO Gisel Ruiz said in a statement.

Walmart did not say how many seasonal workers it hired for the 2011 holiday season, but the plan to hire more than 50,000 is up slightly from last year. The company is trying to improve the level of service at its thousands of stores, where shoppers often complain that they have to wait in long lines to pay.

Retailers typically add seasonal staff in the weeks leading up to the holiday shopping season in order to work in stores and to help in other areas, such as distribution and fulfilling online orders.

Earlier this week, department store chain Kohl’s Corp said it planned to increase its holiday season hiring by more than 10 percent. Kohl’s said on Tuesday that it plans to hire more than 52,700 people for the holiday season to work in stores and support its online business.

Goldman ends two-year program for new hires at entry level

NEW YORK, Fri Sep 14, 2012 – Goldman Sachs Group Inc. has ended a two-year training program for recent college graduates after running it for a quarter century as the U.S. investment bank found it was not meeting its aim of retaining new talent.

Goldman’s decision came after the New York bank fired a handful of analysts over the past year for signing on to work at other financial companies in violation of their contracts.

“We think the historic two-year program is no longer the best approach for hiring and developing the careers of analysts in our banking and investment management divisions,” Goldman Sachs spokesman David Wells told Reuters.

Wells said that making this change will allow Goldman “to emphasize the longer-term career opportunities available at the firm.”

He added that Goldman will continue to provide the skills and time needed to understand the company’s businesses.

By doing away with the two-year program, Goldman will not have to commit to keeping analysts and paying them for a set period of time. That gives the firm flexibility to cut analysts sooner if their work is not up to par, or if it has to cut costs.

Likewise, analysts can leave to take another role at a competitor whenever they choose if they decide Goldman is not the right place for them.

Analysts who start work in 2013, will no longer be eligible for the two-year program, Wells said.

Private sector adds 206,000 jobs in November, beating expectations

NEW YORK ― The pace of job growth in the economy’s private sector accelerated in November, with U.S. employers adding 206,000 jobs, a report by a payrolls processor showed on Wednesday.

The ADP National Employment Report surpassed economists’ expectations for a gain of 130,000 jobs, according to a Reuters survey. October’s private payrolls were revised up to an increase of 130,000 from the previously reported 110,000.

The report is jointly developed with Macroeconomic Advisers LLC.

“The ADP news is very good news. The private sector is adding jobs,” said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.

U.S. stocks index futures added to gains immediately after the data, though investors were also focused on an announcement of coordinated actions from major central banks to provide liquidity to the global financial system.

Treasuries prices extended losses after the data.

The ADP figures come ahead of the government’s much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a rise in overall nonfarm payrolls of 122,000 this month and a rise in private payrolls of 140,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.